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Periodical article |
| 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. |