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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Operating sfem in the Nigerian setting
Author:Osagie, Eghosa
Year:1986
Periodical:The Nigerian Journal of Economic and Social Studies
Volume:28
Issue:1
Pages:71-87
Language:English
Geographic term:Nigeria
Subjects:money
foreign exchange
Abstract:By linking the second-tier foreign exchange market (SFEM) to developments in the international monetary system and the requirements of the negotiations with Nigeria's major creditors, the Clubs of Paris and London, to reschedule her foreign debts, the author puts SFEM in its proper historical context and indicates the inevitability of its eventual introduction. He analyses the implications of the introduction of SFEM on a number of key macroeconomic aggregates such as the price level, aggregate demand, the external balance and on domestic production. He concludes that SFEM can be considered successful only if it leads to increased domestic production, a possibility which would be enhanced if other policies contained in Nigeria's Structural Adjustment Programme (1986-1988) also actively work to the same end. Bibliogr.