Impact of nigerian agricultural policies on crop production and the environment
SummaryNigerian efforts in agricultural development over the past three decades have failed to improve the country's economy. A review of the sector depicts a gloomy picture. Performance is reflected in environmental degradation, mounting food deficits, and decline in both gross domestic product and export earnings, while retail food prices and import bills have been increasing. These effects have further impoverished the smallholder farmers, locking them into a poverty web. The Government must seek to establish agricultural strategies which promote political stability, self reliance, public participation, sustained production and environmental security.
Financial Sector Reforms and Agricultural Development in Nigeria: A Review
The financial sector is undoubtedly an important component of any economy and is essential in the development of the Agricultural sector. The movement towards a more friendly market oriented economy has attracted considerable debate among economist and policy makers. The reason being that as perceived by policymakers, the adoption of the neo classical economic dogma is capable of moving the economy in the path of sustainability, development and growth. The financial sector has witnessed several reforms pre and post Nigeria independence. The paper examined reforms in the financial sector in relation to agricultural development in Nigeria. It highlighted some reforms in the sector under different eras to include regulatory, liberalized and regimented regulations among others. These reforms did not only provide the intermediation that pooled funds from savers and channeled to investors but also provided the payment system that facilitated agricultural trade and exchange and significantly impacted agricultural production. The financial sector should be motivated to supply the funds needed for agricultural development while government should provide the enabling environment conducive for farming as a business through concessionary interest rates, tax free and import duty concessions.
Complexity, Network-Decisions And Alternative Risk Premia: Some New Theories Of Structural Change And Portfolio Decisions.
Structural Change is the basis for many decisions such as government fiscal and monetary policies, government interventions, corporate-expenditure decisions, corporate strategic decisions, portfolio management decisions in finance; household allocation decisions, etc.. Structural change in industries and national economies is increasingly more difficult to detect partly because of the growth and dominance of Complex Systems and “Networks” in modern industries and economies – such Networks and Complex Systems include GVCs (global value chains), retail store networks; franchising networks; internet networks; services networks; credit-chains in industries; online social networks; etc.. The relationship between Complexity and Structural Change is well established in the physics, applied math and economic dynamics literatures. Traditional definitions and modeling of structural change have erroneously focused on changes in labor, technological progress, market share, and or capital – which are grossly inadequate in the new economy and post- global financial crisis (as confirmed by changes in the global retailing and housing industries and other industries). Also the modeling of structural change seems to be constrained by the availability of data, and often omits the relationship between structural change on one hand, and globalization, financial stability and international financial contagion. This article: i) introduces the Operations Strategy Model of structural change, explains how it differs from the Lewis Model of Structural Change; and explains the often omitted relationship between operations strategy (of companies and government agencies) and structural change; ii) introduces other new Complexity-based models/theories of Structural Change in industries; iii) reviews the relationships among Operations Research, Complexity and Structural Change; iv) explains the symbiotic relationship between structural change on one hand, and economic growth, financial stability, financial contagion and globalization; v) discusses the significant gap between academic research and practice and explains some issues and factors that should be considered in the development and testing of structural change models; vi) explains how alternative risk premia can be generated from new models of Structural Change.