scholarly journals Evaluating Nigeria Cashless Policy Implementation

2016 ◽  
Vol 6 (5) ◽  
pp. 17
Author(s):  
Kket Eko Ewa ◽  
Egu Usang Ina
Keyword(s):  
Economic Policy ◽  
Policy Implementation ◽  
Central Bank ◽  
Cyber Security ◽  
Internet Protocol ◽  
Likert Scale ◽  
Financial Inclusion ◽  
Policy Initiative ◽  
Policy Objectives

<p>The Central Bank of Nigeria introduced cashless policy initiative to accomplish two main macro-socio-economic policy objectives of increased convenience and greater financial inclusion in Nigeria. This study evaluates Nigeria cashless policy implementation using a four point Likert scale questionnaire administered to six hundred respondents. The results of the study show that the twin policy objectives investigated were partially achieved. Also the study reveals that social infrastructures in power and telecommunications need improvement and expansion and the need to create more awareness to encourage the unbanked to embrace banking culture. This study recommends vigorous investments on cyber security, strengthening of internet protocol and controls in the banks and enactment of relevant legislative laws to curb cybercrimes.   </p>

scholarly journals Rethinking Monetary Sovereignty: The Global Credit Money System and the State

2020 ◽  
Author(s):  
Jens van 't Klooster ◽  
Steffen Murau
Keyword(s):  
Economic Policy ◽  
Central Bank ◽  
Crucial Role ◽  
The State ◽  
Financial Globalization ◽  
Shadow Banks ◽  
Monetary System ◽  
Central Bank Money ◽  
Policy Objectives ◽  
Bank Money

This article proposes a conception of monetary sovereignty that recognizes the reality of today’s global credit money system. Monetary sovereignty is typically used in a Westphalian sense to denote the ability of states to issue and regulate their own currency. This article rejects the Westphalian conception. Instead, it proposes a conception of effective monetary sovereignty that focuses attention on what states are actually able to do in the era of financial globalization. The conception fits the hybridity of the modern credit money system by acknowledging the crucial role not only of central bank money but also of money issued by regulated banks and unregulated shadow banks. These institutions often operate ‘offshore’, outside of a state’s legal jurisdiction, which makes monetary governance more difficult. Monetary sovereignty consists in the ability of states to effectively govern these different segments of the monetary system and thereby achieve their economic policy objectives.

scholarly journals GOALS OF THE NATIONAL BANK OF SERBIA

2019 ◽  
pp. 091
Author(s):  
Srđan Golubović ◽  
Nataša Golubović
Keyword(s):  
Economic Policy ◽  
Central Bank ◽  
Financial Stability ◽  
Global Financial Crisis ◽  
Central Banks ◽  
Domestic Legislation ◽  
National Bank ◽  
Policy Objectives ◽  
Legal Position ◽  
The Global Financial Crisis

Starting from the legal position of the National Bank of Serbia, the paper analyzes the objectives entrusted to this institution by domestic legislation. In line with the dominant monetary paradigm, the main goal of the central bank of Serbia is price stability. After the global financial crisis, financial stability is increasingly mentioned as the objective that central banks implement. This also applies to the central bank in Serbia (National Bank of Serbia), which has a clear mandate to take account of financial stability, in addition to monetary stability. Finally, as an important subject of economic policy, the National Bank of Serbia, by exercising the entrusted functions also affects the achievement of other economic policy objectives. It should be kept in mind that domestic legislation precisely determines the hierarchy of the objectives of the central bank, considering that it explicitly stipulates that the National Bank of Serbia primarily takes care of monetary and financial stability, and only then it provide support for general economic policy, provided that it does not jeopardize the exercise of the basic objectives.

The end of Alchemy of Finance and Sovereign Money (on the books by M. King “The end of Alchemy: Money, Banking and the Future of the Global Economy” and by J. Huber “Sovereign Money. Beyond Reserve Banking”)

2017 ◽  
pp. 131-141 ◽  
Author(s):  
V. Yefimov
Keyword(s):  
Economic Policy ◽  
Central Bank ◽  
Institutional Theory ◽  
Money Supply ◽  
Government Spending ◽  
Global Economy ◽  
Private Banks ◽  
Money Creation ◽  
Ministry Of Finance ◽  
Reserve Banking

The review discusses the institutional theory of money considered in the books by King and Huber, and the conclusions that follow from it for economic policy. In accordance with this theory, at present the most of the money supply is created not by the Central Bank but by private banks. When a bank issues a loan, new money is created, and when the loan is repaid this money is destructed. The concept of sovereign money involves the monopoly of money creation of the central bank. In this case the most of newly created money is handed over to the ministry of finance to implement government spending.

scholarly journals A Text Mining Analysis of Central Bank Monetary Policy Communication in Nigeria

2020 ◽  
pp. 73-107
Author(s):  
Mohammed M. Tumala ◽  
Babatunde S. Omotosho
Keyword(s):  
Monetary Policy ◽  
Text Mining ◽  
Central Bank ◽  
Communication Strategy ◽  
Central Bank Communication ◽  
Monetary Policy Committee ◽  
Textual Data ◽  
Policy Communication ◽  
Policy Objectives ◽  
Monetary Policy Transparency

This paper employs text-mining techniques to analyse the communication strategy of the Central Bank of Nigeria (CBN) during the period 2004-2019. Since the policy communique released after each meeting of the CBN’s monetary policy committee (MPC) represents an important tool of central bank communication, we construct a corpus based on 87 policy communiques with a total of 123, 353 words. Having processed the textual data into a form suitable for analysis, we examined the readability, sentiments, and topics of the policy documents. While the CBN’s communication has increased substantially over the years, implying increased monetary policy transparency; the computed Coleman and Liau readability index shows that the word and sentence structures of the policy communiques have become more complex, thus reducing its readability. In terms of monetary policy sentiments, we find an average net score of -10.5 per cent, reflecting the level of policy uncertainties faced by the MPC over the sample period. In addition, our results indicate that the topics driving the linguistic contents of the communiques were influenced by the Bank’s policy objectives as well as the nature of shocks hitting the economy per period.

scholarly journals Monetary policy change of the Central bank of Poland

2015 ◽  
Vol 15 (3) ◽  
pp. 246-259
Author(s):  
Ireneusz Kraś
Keyword(s):  
Monetary Policy ◽  
Economic Policy ◽  
Central Bank ◽  
Policy Change ◽  
Financial System ◽  
Financial Statements ◽  
Democratic Character ◽  
National Bank ◽  
The Republic ◽  
The Government

Abstract The National Bank of Poland is an institution which, in conjunction with the government is responsible for the implementation of country’s economic policy reinforces its democratic character. Provisions of its operation are governed by the Constitution of The Republic of Poland and by the Act on the National Bank of Poland. To this end, the objective of the present research is to analyse the proposed amendments in the Act on the NBP. The latter concerns the amendment procedures, term of office and the rotations and numbers of Monetary Policy Council. The remaining part of the analyses is dedicated to the issue of dismissal of a MPC’s member in conjunction with the prohibition of occupying other positions, the adoption of the NBP’s financial statements and the separation of instruments of monetary policy’s instruments for stability of domestic financial system. Introduced changes in the proposed draft reduce the independence of the NBP while making it more subject to the Cabinet. Following the result of further consultations on the draft of Act on the NBP, provisions which reduce the independence of the NBP shall be partially removed.

scholarly journals Demand for Central Bank Reserves and Monetary Policy Implementation Frameworks: The Case of the Eurosystem

2021 ◽  
Author(s):  
Pontus &Aring;berg ◽  
Marco Corsi ◽  
Vincent Grossmann-Wirth ◽  
Tom Hudepohl ◽  
Yvo Mudde ◽  
...  
Keyword(s):  
Monetary Policy ◽  
Policy Implementation ◽  
Central Bank ◽  
Bank Reserves

Administrative Leadership in Policy Review and Evaluation

1988 ◽  
Vol 10 (2) ◽  
pp. 141-150 ◽  
Author(s):  
Robert J. Starratt
Keyword(s):  
Policy Implementation ◽  
Policy Process ◽  
Administrative Leadership ◽  
Policy Initiative ◽  
Federal Level ◽  
Implementation Evaluation ◽  
Policy Review ◽  
Building Level ◽  
Conventional Paradigm ◽  
Policy Setting

The conventional paradigm of the policy process is that state or federal level legislators and agency heads set policy; agency bureaucrats write the guidelines and specifications; administrators at various levels down to the building level administrators implement the policy initiative; research specialists in program and policy implementation evaluation assess the effects of the policy and report back to those who set the policy. This paper argues that administrators at the state, district, or building level should review and evaluate policy, thereby joining their perspectives to and enriching the conversion between the policy setting and policy evaluating communities.

Preconditions for a general-purpose central bank digital currency

FEDS Notes ◽  
2021 ◽  
Vol 2021 (2839) ◽  
Author(s):  
Jess Cheng ◽  
◽  
Angela N Lawson ◽  
Paul Wong ◽  
◽  
...  
Keyword(s):  
United States ◽  
Central Bank ◽  
The United States ◽  
Legal Framework ◽  
General Purpose ◽  
The Public ◽  
Digital Currency ◽  
Stakeholder Support ◽  
Policy Objectives ◽  
New Form

Over the last few years, interest in the potential issuance of a general-purpose central bank digital currency (CBDC) has increased. Introducing and operating a CBDC would require actions by many stakeholders and not just the central bank. In view of the far-reaching implications of introducing a new form of money to the public, the decision cannot be taken lightly. This paper outlines foundational preconditions and proposes areas of work that may help achieve them prior to the possible implementation of a potential future general-purpose CBDC in the United States. These foundational preconditions include clear policy objectives, broad stakeholder support, a strong legal framework, robust technology, and readiness for market acceptance and adoption.

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