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Articles ( Showing 1-20 of 132 items)
Searched for: [ Keywords: "Central Bank Policy" ] clear all
Journal Article
Digital Currency and Financial Markets in Nigeria: Impact and Policy Implications
by Chioma Nwosu Peace , Bosha Ernest Oryiman  and  Abubakar Ibrahim Sani
Abstract
The rise of privately issued digital currencies, which primarily serve as alternative investment assets poses a challenge to the traditional financial instruments traded in the financial market. This study examines the dynamic relationship between the major privately issued digital currency (Bitcoin) and two financial market securities in Nigeria. The paper employed Vector Auto [...] Read more
Hit Affiliation:
Research Department, Central Bank of Nigeria, Abuja, Nigeria

Journal Article
Central bank policy formulation under COVID-19 in Ghana: A fit-for-purpose?
by Johnson Worlanyo Ahiadorme  and  Deodat E. Adenutsi
Abstract
This paper evaluates the fit-for-purpose of the monetary policy measures implemented by the Bank of Ghana in response to the COVID-19 pandemic. We examine the effectiveness of the BoG’s policy interventions in the context of vector autoregressions augmented with macroeconomic and financial indicators. We demonstrate that the BoG’s monetary policy measures have had n [...] Read more

Journal Article
The effectiveness of the european central bank in pursuing its prime mandate
by Mark Scholliers  and  Herman Matthijs
Abstract
The objectives and tasks of the European Central Bank (ECB) are defined in Articles 2 and 3 of Protocol (No 4) on the Statute of the European System of Central Banks (ESCB) and of the European Central Bank (ECB). While in Article 3,1° of this Protocol other tasks are mentioned, the prime objective of the ESCB and therefore of the ECB, is price stability. This concept was or [...] Read more

Journal Article
Electronic Payments System and Banking Industry’s Return in Nigeria: A Time-Varying Granger Causality Approach
by Abubakar Sani Ibrahim , John Olu-Coris Aiyedogbon  and  Obumneke Ezie
Abstract
The paper is motivated by the growth of the electronic payments system and its relevance in enhancing the banking industry's earnings. Consequently, the paper examines the causal relationship between the electronic payments system and the banking industry's returns in Nigeria. The paper offers some important contributions to the literature involving the use of an approach that [...] Read more
Hit Affiliation:
Central Bank of Nigeria, Abuja, Nigeria

Journal Article
Are Banks Too Many? A Theoretical Possibility and a Policy Issue
by Gerasimos T. Soldatos  and  Erotokritos Varelas
Abstract
Motivated by the Blackorby-Schworm (1993) observation that market outcomes may differ from those originating in market-actor optimization, this paper claims that the number of banks in the market is larger than the number justified by bank profit maximization alone or in combination with bank depositor welfare maximization. This claim is made within the context of bilateral mon [...] Read more

Letter
Analysis of the Mediating Effect of Economic Policy Uncertainty Affecting Commercial Bank Credit
by Juan Meng  and  Zhe Zhou
Abstract
We analyze the annual microdata of China's 100 commercial banks from 2007 to 2018 using the mediating effect analysis method, analyze the negative impact of economic policy uncertainty on the credit scale of commercial banks, and then verify the intermediary effects of the operational risks and short-term capital liquidity of commercial banks in the impact of economic policy un [...] Read more

Journal Article
Assessment of exchange rate determination in a mono-resource economy: A case of Nigeria
by Nakorji Musa , Oji-okoro Izuchukwu  and  Seyi Saint Akadiri
Abstract
This study examined the determinants of the exchange rate in a mono-resource economy, during the period of currency and oil price fall in Nigeria. The aim of the study is to ascertain the potentiality of economic diversification (non-oil export) in saving the falling value of the domestic currency, as well as, its stability. The study employed the use of monthly data from the C [...] Read more
Hit Affiliation:
Research Department, Central Bank of Nigeria, Abuja, Nigeria

Journal Article
Access to Electricity and Primary Education Nexus in Central Africa
by Arsene Mouongue Kelly , Beatrice Laure Toukap Yimele , Nidel Lolita Wassou Tchieu  and  Pascal Ndyanabo Rutazihana
Abstract
Access to electricity, a fundamental element of contemporary life, is essential for economic success. Its impact extends to the fundamental foundations of industrial development and has the power to improve a wide range of industries, including healthcare, transportation, utilities, and education. This article aims to analyse the effect of electricity access on primary educatio [...] Read more
Hit Affiliation:
Department of Economic Policy Analysis, University of Dschang,Dschang,Cameroon

Journal Article
Bank Runs and Design Flaws of Deposit Insurance
by Sangkyun Park
Abstract
Deposit insurance systems are designed to balance the benefits of preventing bank runs and protecting ordinary savers against the costs of reduced market discipline and potential burdens on taxpayers. Design flaws of deposit insurance make the benefits too low and the costs too high. This paper presents an example in which solvent banks can effectively manage runs, depositors d [...] Read more
Hit Affiliation:
Federal Reserve Banks (New York and Saint Louis), USA

Journal Article
Determinants of FinTech and BigTech lending: the role of financial inclusion and financial development
by Peterson K. Ozili
Abstract
Credit markets around the world are undergoing digital transformation which has led to the rise in FinTech and BigTech lending. FinTech and BigTech lending is the provision of credit by FinTech and BigTech providers who have more capital, cutting-edge IT systems, worldwide recognition, greater online presence and are able to handle more big data on computers and mobile phones t [...] Read more
Hit Affiliation:
Central Bank of Nigeria, Abuja, Nigeria

Journal Article
Do Bank Capital Requirements Make Resource Allocation Suboptimal?
by Sangkyun Park
Abstract
Bank capital requirements would entail large social costs if they made resource allocation suboptimal and banking services costly by unduly limiting the banks’ ability to lend. This paper considers three main factors that may make capital requirements relevant, namely, deposit insurance subsidies, stock valuation errors, and tax shields derived from debt financing. The th [...] Read more
Hit Affiliation:
Federal Reserve Banks (New York and Saint Louis), USA

Journal Article
Inflation: Thruway of ECB’s Monetary Policy
by Christian Seidl
Abstract
Part of the present inflation is caused by the breakdown of globalization, in particular supply chains, part is caused by the Corona Pandemic, in particular lockdowns, part is caused by the Ukrainian War, part is caused by European sanctions, and part – and not the smallest one – is caused by the European Central Bank’s printing money by hook or by crook in th [...] Read more

Journal Article
Credit risk and Tunisian bank stability in the Covid-19 wave
by Emna Trabelsi  and  Malek Ben Mansour
Abstract
Banks are at the core of economic functioning in various countries and are the cause of their development in various fields. In a changing environment, they must deal with certain risks and maintain financial stability as the ultimate objective. The primary objective of this study is to examine the correlation between credit risk and bank stability within the Tunisian banking s [...] Read more
Hit Affiliation:
Social and Economic Policy Analysis Laboratory, Higher Institute of Management of Tunis, University of Tunis, Tunisia

Journal Article
Interactive influence of house prices and the repo rate on household debt in South Africa
by Juniours Marire
Abstract
The recent interest rate policy decisions of the South African Reserve Bank have been criticized significantly by left-leaning political parties and civic society organisations for being anti-poor, anti-labour, and pro-capital because of their implications for household debt. Existing literature has established that interest rates and house prices are insignificant determinants [...] Read more

Journal Article
Do policy coordination dynamics matter? A quantitative analysis perspective on China's scientific and technological policy evolution
by Yu Yang  and  Nur Ajrun Khalid
Abstract
Even though policy coordination is one of the oldest challenges that governments have to confront, as problems evolve and "New Public Management" concepts emerge, it has become even more essential. The current literature on policy coordination among government agencies, however, shows little regarding the way coordination is managed under centralized political systems. This stu [...] Read more

Journal Article
Research on The Intermediary Effect of Innovation Ability on The Internationalization and Competitiveness of Western Central-cities
by Ying Zhang  and  Qianxiao Zhang
Abstract
Based on the panel data of western central-cities from 2002 to 2021, this paper uses the intermediary effect model to analyze the relationship between urban internationalization, innovation ability and urban competitiveness. It is found that: (1) The internationalization of western central-cities has a positive and direct impact on the promotion of urban competitiveness, which [...] Read more

Journal Article
A pipeline between producer and consumer prices in Ghana: A Policy Issue
by Johnson Worlanyo Ahiadorme  and  Linda Akoto
Abstract
As prices have grown at their fastest pace in recent times, inflation has become a key concern for the macro-policy environment. In many jurisdictions, consumer prices have typically formed the basis for price stability policies. Notwithstanding, producer prices remain an important channel and must be closely watched. We utilise data on Ghana and investigate the causal links be [...] Read more

Journal Article
How do R&D factors affect total factor productivity: based on stochastic frontier analysis method
by Shikuan Zhao , Wen Tian  and  Abd Alwahed Dagestani
Abstract
Based on provincial panel data from 1998-2018, this paper estimates research and development (R&D) factors, and a stochastic frontier analysis (SFA) model is constructed to examine the effects of R&D factors on regional total factor productivity (TFP). The results show that both R&D capital stock and R&D personnel can significantly promote regional TFP, but the [...] Read more
Hit Affiliation:
School of Public Policy and Administration, Chongqing University, Chongqing, China
School of Business, Central South University, Changsha, China

Journal Article
A Comparative Machine Learning Survival Models Analysis for Predicting Time to Bank Failure in the US (2001-2023)
by Diego Vallarino
Abstract
This study investigates the likelihood of time to bank failures in the US between 2001 and April 2023, based on data collected from the Federal Deposit Insurance Corporation's report on "Bank Failures in Brief - Summary 2001 through 2023". The dataset includes 564 instances of bank failures and several variables that may be related to the likelihood of such events, such as asse [...] Read more

Journal Article
How do financial regulations and economic freedoms affect bank profitability? Empirical Evidence from the OIC Region
by Ousman Mohammed Yimam
Abstract
Banks operating within a free economic environment and with constructive regulatory frameworks can function with enhanced efficiency, augmenting their profitability. This study aimed to examine the influence of economic freedom and financial restrictions on banks' profitability within the Organization of Islamic Cooperation member nations. The study used a sample of 1453 banks, [...] Read more