000			01825nam a2200265 a 4500
008			980312s1995 ke a grbs i000 0 eng
020			_a996690039X
040			_aDLC _cDLC
050	0	0	_aHG3987.7 _b.O35 1995
082			_a332.45'9669 _bODU
100	1		_aOdubogun, Kassey.
245	1	0	_aInstitutional reforms and the management of exchange rate policy in Nigeria /
260			_aNairobi : _bAfrican Economic Research Consortium, _cc1995.
300			_a45 p. :ill.,
440		0	_aAERC research paper ; no. 36
500			_a"October 1995."
504			_aIncludes bibliographical references: p. 43-45.
520			_aThis study has therefore analyzed from an institutional perspective, the evidence on Nigeria's FOREX management and exchange rate policy from 1960 to 1990. The outcome of each policy regime was compared in terms of (a) the trend in exchange rate (b) degree of exchange rate premium and (c) structure of FOREX allocation. Evidence suggests that in spite of the reform of 1986, the naira exchange rate is still not competitively determined and the allocation of FOREX remains inconsistent with the requirements for the long-term development of the Nigerian economy. Evidence also indicate that the post-reform exchange rate policy has been adversely affected by government's expansive fiscal and monetary policy. The major conclusion of the study is that given government's macroeconomic policy and the character of the markets within which FOREX was traded and the linkages between them, the naira exchange rate has little chance of convergence and as a result, the possibilities for distortions in the allocation of FOREX remain very high.
590			_arpm 06/09/2016
591			_aLoans
650		0	_aForeign exchange.
651			_aNigeria.
942			_2ddc _cBOOK
949			_a332.45'9669 ODU
999			_c4757 _d4757