1520-5509 Clarion University of Pennsylvania‚ Clarion‚ Pennsylvania THE IMPACT OF EXTERNAL DEBT ON ECONOMIC GROWTH: A COMPARATIVE STUDY OF NIGERIA AND SOUTH AFRICA Folorunso S. Ayadi University of Lagos Felix O. Ayadi Texas Southern University Abstract This paper investigates the impact of the huge external debt‚ with its servicing requirements‚ on economic growth of the Nigerian and South African economies. The external debts of Nigeria and South Africa are analyzed in a new context utilizing traditional
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BASEL III AND ABOLITION OF UNIVERSAL BANKING MODEL – IMPLICATION FOR NIGERIAN BANKS Introduction: In the aftermath of the economic recession which pulled down many global banks and exposed multiple weaknesses in regulation and banking structures‚ the Basel Committee on Banking Supervision agreed to new rules on the minimum level (capital ratio) and composite structure of Banks capital on the 12th of September‚ 2010. Broadly speaking‚ the new rules which are widely referred to as Basel III (and are
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The Impact of Small Scale Business on the Nigerian Economy Small Scale Businesses contribute immensely to the growth and development of the Nigerian economy. Some of these impacts are felt in the following areas: Increase in the nation’s Gross domestic product and Gross national product 1. Increase in Gross Domestic Product and Gross National Product The Gross National Product (GNP) is the total dollar value of all final goods and services produced for consumption in society during a particular
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produced in Nigeria is largely due to the fact that apart from other facets of the economy which affect the manufacturing environment‚ electricity has been a largely contributing factor especially the running cost of private generators‚ rather than diminishing is increasing in leaps and bounds. The main thrust has been on the cost of spare parts for maintenance of generators and the rising cost of AGO (Diesel). Industry uses more than 10percent of the energy consumed in the Nigeria (figure 1)
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The Impact of Industrialization on Russia (1750-1914) In the late 19th century‚ Russia began its process of industrialization following its defeat at the hands of Western nations in the Crimean War. Russia’s Industrial Revolution was further helped along by its growing population and an increasing labor force. As the industrial process continued‚ it sprang forth new jobs in mining‚ factory work‚ and railroad construction. This influx of jobs was taken by an influx of people‚ come from the country
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have a large impact on industrialization in Britain‚ the United States and Europe as a result of realizations and actions taken to better their countries after the Napoleonic wars. Although the Industrial Revolution began in Britain during the 1700’s it was boosted in the early 1800’s after the Napoleonic wars because of reform that was needed. Industrialization then started spreading throughout Europe and into North America in the early 1800’s. By the mid-1800’s industrialization was widespread
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HISTORICAL BACKGROUND OF THE STUDY From a trivial debt stock of $1billion in 1971‚ Nigeria had towards the end of 2005 incurred close to $40 billion debt with over $30 billion of the amount owed the Paris Club alone. Although Nigeria’s debt was more than the total of those of the 18 other poor countries (14 of them African countries) classified as Heavily Indebted Poor Countries (HIPCs)‚ it had been a herculean task convincing the creditors that debt cancellation was the most desirable option. Prior
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technology (ICT) by homes‚ organizations‚ and nations. Nigeria is not left out in this race for rapid development as the nation’s economy has been subjected to years of economic reversal via mismanagement and bad leadership. The Nigerian telecommunications sector was grossly underdeveloped before the sector was deregulated under the military regime of General Ibrahim Babangida in 1992 with the establishment of a regulatory body‚ the Nigerian Communication Commission (NCC). So far the NCC has issued
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categorization of Nigeria economy 3 Chapter 1: The discovery of oil and the Nigerian economy 4 Type chapter title (level 2) 5 Type chapter title (level 3) 6 Abstract: Nigeria has remained a point of reference in Africa and on global level. This is stem from the fact that‚ it is one of the largest exporters of crude oil to developed nations of the world. For more than three decades therefore‚ crude oil has been the major hub of the energy‚ revenue and foreign exchange earner for the Nigerian economy
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Present Performance of Dhaka Stock Exchange Present Performance of Dhaka Stock Exchange Prepared for: Arafat Rahman Course Instructor BUS 501 (Section-01); WMBA Program; IBA-JU Fall 2014 Semester Prepared by: Institute of Business Administration Jahangirnagar University Date of submission: December 19‚ 2014 Letter of Authorization November 23‚ 2014 Course Participant
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