The impact off the International Monetary Fund (IMF) stabilization programme has been a subject of great controversies. This study therefore investigated policy recommendations contained in IMF Programme on development Nigeria’s external sector. In specific terms, examined fiscal deficit, exchange rate, foreign direct investment (FDI), degree trade openness, interest rate and bank credit to dom...

Gregory Johnson is a Senior Program Manger at Alion Science & Technology, JJMA Maritime Sector. He heads up the New London, CT office which provides research and engineering support to the Coast Guard Academy and R&D Center. He has a BSEE from the USCG Academy (1987) a MSEE from Northeastern University (1993) and a PhD in Electrical Engineering from the University of Rhode Island (2005). Dr. Jo...

We study consumer liquidity in a general equilibrium model where the friction is the nonpledgeability of future income. Liquidity helps to overcome the absence of a double coincidence of wants. Consumers over-hoard liquidity and the resulting competitive equilibrium is constrained inefficient. Fiscal policy following a large negative shock can increase ex ante welfare. If the government cannot ...

International Codes for the public reporting of Mineral Resources and Reserves are becoming clearer about defining the expectations of shareholders who invest in mining companies. There are trends to more clearly define requirements for annual reporting and for reconciliation of estimations. For example, recent updates to the JORC Code have addressed the concept of quantification of risk associ...

We define energy security as “a state in which consumers and their governments believe, and have reason to believe, that there are adequate reserves and production and distribution facilities available to meet their requirements in the foreseeable futures, from sources at home and abroad, at costs which do not put them at a competitive disadvantage or otherwise threaten their well-being. Insecu...

Body reserves of numerous taxa follow seasonal rhythms that are a function of temporal patterns in food availability and life-history events; however, tests of the theory underlying the allocation of somatic reserves for long-lived organisms are rare, especially for free-ranging mammals. We evaluated the hypothesis that allocation of somatic reserves to survival (i.e., metabolic processes) and ...

Many pension schemes mandated by governments have accumulated large reserves. The management of these funds has a direct effect on financial sustainability and potential benefit levels. It also has important indirect effects on the overall economy when the funds are large. Part I of this study surveys some of the available cross-country evidence on publicly-managed pension reserves. We find tha...

This month’s First International Marine Protected Areas Congress (IMPAC1), to be held 23-28 October in Geelong, Australia, is one of the first global conferences devoted solely to the subject of MPAs. Hopefully many more will follow. Unanswered questions still abound on aspects of MPA science (e.g. the effects of reserves on neighboring fisheries) and on best practices in planning and managemen...

This report looks at Bolivia's main economic indicators over the past year (mid-2006 to mid-2007), noting improvements in growth, fiscal balances, balance of payments, and international reserves. These improvements were largely due to government policies and choices, such as increased hydrocarbons royalties and control over the hydrocarbons sector, and have allowed the government to embark on a...

Gregory Johnson is a Senior Program Manager at Alion Science & Technology, JJMA Maritime Sector. He heads up the New London, CT office which provides research and engineering support to the Coast Guard Academy and Coast Guard R&D Center. He has a BSEE from the USCG Academy (1987) a MSEE from Northeastern University (1993) and a PhD in Electrical Engineering from the University of Rhode Island (...