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PERSPECTIVES OF TECHNOLOGY ACQUISITION AND INDUSTRIAL CHANGE: A
Discussion
By Olabode O. Alokan Department of Geography University of lbadan, lbadan
ABSTRACT
This paper discusses the introduction of technology in small- and medium-scale industrial
enterprises particularly in relation to their location and organizational forms. Contemporary industrialorganizations
which separate information management services from various
forms of manufacturing and mass production techniques make collaboration with outside spedalistfinm easier through
networking. For SMEs to develop it would be helpful if they are linked to bigger enterprises thus making it easier for
them to take advantage of the spillover of technology from the larger firms. Firms have the options of
either adapting or adopting technology. Their choice may be dictated by the availability of capital. Labour-intensive
methods are indicated where there is a Inrge populntion. though the availability of capital may be the
determiningfactor. The development of the technical capacity to produce spare parts and the development of in-house
technology must be
addressed.
MARKET ACCESS FOR NIGERIA'S EXPORTS IN THE EUROPEAN UNION:
An Assessment of the Impact of the Lome Convention. and the Uruguay Round
By E. Olawale -Ogunkola and T. Ademola Oyejide Department of Economics University of Ibadan. Ibadan
ABSTRACT
The Uruguay Round is bound to affect the Lome Convention, especially its trade
component, at least in two ways. First is the npn-compatibility of the Lome Convention with World Trade Organization
rules. Second, is the preference erosion as a result of multilateral trade liberalization. This paper examines the effect
of changes in the EU's import policies on Nigeria's exports to EU countries. In the context of a market share model,
ttade preference accounted for the bulk of changes in the EU's imports from Nigeria. Preference erosion is also evident
from the model.
Notwithstanding the presence. of non-tariff measures again
exports to EU countries. .
COSTING ROAD TRAFFIC ACCIDENTS IN NIGERIA:
A Note on Methodology
By G.T. Arosanyin Department of Economics University of Ilorin, Ilorin
ABSTRACT
Road traffic accidents constitute a major cause of death and disability in the world today, Attempts to curb the
severity and rate of road accidents demand a sound costing method that provides the society with the opportunity costs of human
and material resources destroyed in road crashes. This paper therefore reviews the various conventional road
accident costing methods and justifies the adoption of the human capital or gross output method as preferred road accident costing method for Nigeria, until the road
accident database for Nigeria improves. It also shows how data for the use of the method could be sourced.The paper concludes with a
call for an improved road accident database in Nigeria to enable the use of this and other methods.
THE EXISTENCE OF POST -EARNINGS ANNOUNCEMENT DRIFT OF
RETURNS IN THE NIGERIAN STOCK MARKET:
Fact or Fiction?
By Samuel Bayode Oludoyi Department of Accounting and Finance University of llorin, llorin
ABSTRACT
This study examines the release of information on earnings by Nigerian firms. Three earnings expectation models were used to forecast
earnings
for one-year in advance. These models are the martingale,
subMartingale and Box-Jenkins ARlMA models. Thereafter, portfolios based on the 'three earnings expectation models were constituted.
Clear evidence of post-earnings announcement drift wasfou;w in the Nigerian stock market, because the drift persisted for at least ten
weeks after finns' earnings became public knowledge. It is suggested that share
prices be deregulated in the secondary market, with a view to removing avoidable distortions in the Nigerian stock market, such as the
imposition of caps on daily share price movements.. In addition, we recommend that the Securities and Exchange Commission and the
Nigerian Stock Exchange should allow and encourage more securities analysts to operate in the market than those in existence at the
moment.
MEASUREMENT OF THE" TECHNICAL EFFICIENCY OF CROP FARMS IN THE
SOUTHEASTERN REGION OF NIGERIA
By Edet Joshua Udoh Department of Agricultural Economics/Extension University of Uyo, Uyo
and
Jacob Olatunji Akintola Department of Agricultural Economics University of Ibadan, lbadan
ABSTRACT
This study used a restricted translOg production junction to estimate the technical efficiency of 300 farms
in the south-eastern part of Nigeria. We specified the stochastic parametric frontier with a comppsiteerror term. By means vf maximum
likelihood estimation, asymptotically consistent and efficient ML estimates were obtained together with inefficiency determiru:mts. The
empirical results show that the mean Level of technical
.efficienCy is.77per cent, while the bestfarm is 98 per cent efficient. This shows that with the present technology, the're is still room for
a 23 per cent increase in crop prodl{ction. As technical efficiency is concerned, socio-economic factors which positively affect the farm
potentialfrontier strategies for increasing input-use productivity and efficiency are urgently needed.
THE FINANCIAL AND OPERATIONAL PERFORMANCE OF PRIV A TIZED FIRMS IN
NIGERIA:
Evidence from Two Fully Privatized Agro-allied Firms
By Elias Anachioke Udeaja Department of Economics University of Ibadan, Ibadan
ABSTRACT
The last two decades witnessed significant economic reforms in both the developed and
developing countries. One of the most important aspects of these reforms has been the privatization of public enterprises.
This paper examines the financial and operational peiformance of fully privatized agro-allied firms in Nigeria. Accounting
peiformance indicators were used to measu,re the financial and operational efficiency of these firm..-added in terms of
salary and divided also increased in the post-privatization periods. Revenue to the government in the form of taxation improved, and
there was no record of subsidy in the period after privatization. However, the results of levelling and employment were mixed. The
profitability result is robust when compared with the industrial average of the sub-sector.
THE DEMAND FOR MONEY UNDER RATIONAL EXPECTATIONS OF INFLATION:
The Nigerian Experience
By Michael O. Nyong Department of Economics University of Calabar
ABSTRACT
This study challenges the conventional estimation of the money demand function and questions the appropriateness of the
money demand
functions that have been estimated particularly in the Nigerian context. Previous writers have accepted the role of
inflationary expectations in the money demand function, and have adopted the adaptive expectation
framework, which suggests that inflationary expectations are essentially backward looking or static. The limitations of these
previous studies are overcome by establishing the non-stationarity in the underlying data series in the regression model.
A methodology for estimating the money demand function under rational expectations of inflation is presented.
THE TECHNOLOGICAL RESPONSE OF THE MANUFACTURING SECTOR TO TRADE
LIBERALIZATION IN NIGERIA
By Folasade Ayorinde and Olayinka Ola National Centre for Economic Management
and Administration (NCEMA), lbadan
ABSTRACT
This paper analyzes the impact of trade liberalization on the technological capability of manufacturing firms. The study
used data
from 94 firms to assess the effect of trade liberalization policy on technology acquisition. Size and age were two of the most
important determinants of technology acquisition. Although the index of trade liberalization had a positive sign, it was not
statistically significant.
Weak aggregate demand and a poor physical infrastructure has made it difficultfor local manufacturers to compete with
cheapforeign imports. Technology acquisition is strongly linked to market success in the industrialized nations. Nigeria's
manufacturing sector is dominated by consumer goods, if government wants to change this mix, it needs to raise incentives
for the production of intermediate and capital goods.
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