ECONOMY OF NIGERIA Nigeria is a middle income‚ mixed economy and emerging market‚ with expanding financial‚ service‚ communications‚ and entertainment sectors. It is ranked 30th in the world in terms of GDP (PPP) as of 2011‚ and its emergent‚ though currently underperforming manufacturing sector is the third-largest on the continent‚ producing a large proportion of goods and services for the West African region. Previously hindered by years of mismanagement‚ economic reforms of the past decade
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Countless people muddle advertising with marketing and the other way around. Actually‚ both the strategies are uniformly important but have differences too. To put a firm on the fast track of success‚ one must be well-familiar with the differences between advertising and marketing. The term advertising is a mode to describe or present a product or a service in front of general public‚ to induce them to buy‚ acquire or support that product. Basically‚ advertising involves three basic elements:
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Inflation – Impact on Indian Economy & Agriculture Savneet Kaur Abstract— Inflation is the rise in the prices of goods and services and affects all the major sectors in an economy. Inflation also reflects erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy. In a country like Indian where a majority of population is working in agriculture sector‚ the effect of inflation increases manifold. This paper aims to
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this paper is to discuss and critically evaluate the theory and empirical evidence relating to the ‘law of one price’ and the theory of purchasing power parity (PPP). Section I explains the concept underpinning the PPP and the law of one price. Section II involves a critical evaluation of the theory and empirical evidence relating to Section I. Purchasing Power Parity and the Law of One Price PPP doctrine has a long history in economics and was propounded in 1918 by the Swedish economist‚ Gustav
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look at the theory behind Purchasing Power Parity PPP‚ and the potential reasons why PPP may not hold. I will then be looking at the value of a can of Coca-Cola in several different countries and demonstrating the variance in price and whether PPP holds‚ therefore giving an indication on whether or not a currency is over or undervalued in relation to a can of coke. I will also be assessing reasons for this variance and relating this back to the theory. Purchasing Power Parity is based on the “law
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MEASURING THE EFFECTS OF MONETARY POLICY INNOVATIONS IN NIGERIA: A STRUCTURAL VECTOR AUTOREGRESSIVE (SVAR) APPROACH Chuku A. Chuku1 University of Uyo‚ Nigeria. chukuachuku@gmail.com ABSTARCT Correctly identifying the effects of monetary policy innovations is necessary for good policy making. In this paper‚ we carry out a controlled experiment using a structural vector autoregression (SVAR) model to trace the effects of monetary policy shocks on output and prices in Nigeria. We make the assumption
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Running Head: Purchasing Power Parity Testing the Evidence of Purchasing Power Parity and Exchange Rates Abstract Investment banks and foreign exchange dealers play important roles in the foreign currency markets. For purchasing power parity to hold in the long run‚ real exchange rates must be stationary. At the heart of the movement of foreign exchange rates is the change in a country’s balance of payments. If purchasing power parity held‚ then the real exchange rate would always equal
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2302-4593 Vol. 2 (5): 102 - 115 The impact of petroleum on economic growth in Nigeria Michael Baghebo Niger Delta University‚ Bayelsa State‚ Nigeria baghebomichael@yahoo.com Timothy Okule Atima Niger Delta University‚ Bayelsa State‚ Nigeria Abstract The study examines the impact of petroleum on economic growth of the Nigerian economy. Data covering the period 1980-2011 was collected from the Central Bank of Nigeria Statistical Bulletin‚ and transparency international Agency annual publications
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Purchasing Power Parity‚ and How it Determines the Value of the Dollar Course: BBUS 452‚ International Trade Finance Professor: Giuseppe Liberatore Group Members: Pamella De Lima Ishy Carlos Guerrero Ricardo Iraheta Reyes Ann-Marie Mlinac Literature Review “Is Purchasing Power Parity a Useful Guide to the dollar?” This article was our starting article which gave us the idea of researching the Purchasing Power Parity. It identifies that the Purchasing Power Parity should work in
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EXECUTIVE SUMMARY: There has been a long standing controversy among the economist about the validity of PPP (Purchasing Power Parity) in the long run. The parity reveals that prices in two different economies should be identical to each other when they expressed in terms of the same currency. It is a central building block in the monetary models of exchange rate determination. One of the most common practices‚ to test the validity of PPP is through unit root test of real exchange rate. In this paper
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