Importance of financial education in making informed decision on spending
The discourse of spending is important if finance is of concern. Those who save money realize the fact that wise spending leads to saving and hence investing. A household that spends unwisely can end up complaining on insufficient funds attained. Governments and organizations which spend unwisely will always cry for budget deficit. Therefore this paper provides a discussion on the importance of financial...
Neglected and underutilized species (NUS): A panacea for community focused development to poverty alleviation/poverty reduction in Nigeria
The boom in the financial system and economy, and challenges of “leaving no one behind”. Poverty becoming dynastic that is, the “poor cannot sleep because they are hungry, and the rich cannot sleep because the poor are awake” in everybody’s interest to have an INCLUSIVE society. Using the World Bank’s estimates (based on 1993 Purchasing Power Parity) about 2.6 billion or...
Customer complaints in banks-nature, extent and strategies to mitigate
The present paper analyze the extent of complaints in three types of bank groups, namely, public sector banks, Indian private sector banks and foreign banks. The numbers of complaints are the maximum in public sector banks and the maximum complaints are related to deposit, credit cards and housing loans. The present study is related to 2006 - 2007 to 2007 - 2008.The paper intends to solve these complaints...
Dynamic modeling of stability of money demand and minimum wages
Dynamic modeling is a vital policy instrument in measuring macroeconomic stability of the economy and monetary planning. This study was conducted to explore long term dynamic behavior of the narrow money supply to investigate the nexus between money demand and minimum wages and their impact on macroeconomic stability in Sri Lanka. The empirical approach was directed to estimate a Vector Auto regression (VAR)...
Economic growth convergence among Middle East Countries
The main result of early neoclassical growth models supports the convergence of economic growth among countries. Given that countries converge to their steady state growth path, countries with lower economic growth will move faster than rich ones based on the neoclassical growth models. A tremendous amount of research studies have investigated the growth convergence among different regions and countries....
Estimation of the equilibrium interest rate in CFA countries in Africa
This paper treats determination of neutral or natural interest rate in CFA zone and under zone UEMOA and CEMAC. Methodology used is based on a generalized Taylor rule derived from the goals of monetary policies and budgetary attaches with a quadratic function of reaction which takes into account a target of inflation, public expenditure and interest rate. The estimates highlight a neutral interest rate...