In West Africa, crop-livestock mixed ~farming is emerging from the currently predominant nomadic pastoralism and agropastoralism. If is h?~pothesized that competitiveness bet,+peen crop and livestock enterprises may be un important determinant of' the pace of this evolution. A jield stud] in the derived savanna oj'south\tlest Nigeria showys that at the current stage of evolution, as a crop farmer add-y livestock to his business, there is a small gain in the beginning, then an increasing rate of substitution betkiqeen crop and Iil't'.~tockjollolz~. As a livestock rearer engages in crop production, there is a decreasing rtite @'substitution between livestock and crop. This situation derives ,fi;om the ,fhct that crop production is more intensive than livestock production, which depends principally on grazing natural pastures. Results indicate that (f increased population pressure and cropping intensity severely limit access to grazing land, .firrm and herd sizes )4+/l become smaller, then the degree qf' integration betltseen crop and livestock itill increase .rign@cant!l~.
This paper simulated the inter-relationships among interest rates, savings and investment in Nigeria between 1993 and 2010, using historical data on Nigeria spanning a period of 18 years (i.e. 1975-1992
INTRODUCTIONAlthough questions of interest rates, savings and capital information (investment) have been at the core of economic analysis for two to three centuries, the connections among them and the directions of causality are still far from clear. The traditional view in the literature is that, in developing countries, low income preclude the generation of savings, and hence the mobilization of investment. This view is however challenged by the conventional view that low rates of return to investment (savings) cause low savings, which in turn affect the level of investment. The conventional view, thus implicitly assume that savings (and hence investment) respond positively to increases in rates of return to investments (savings). This ‗new' view has implication for development strategies since it tend to suggest that the implementation of a ‗realistic' interest rate policy will encourage increased savings and capital formation, and lead to higher growth.Since the attainment of independence, Nigeria has implemented two interest rates regimes, viz., the low and fixed interest rates regime between 1960 and 1986, and the dynamic interest rates regime since economic deregulation in 1987. Under both interest rates regimes, efforts were geared essentially towards inducing savings for the purpose of channelling it into investment so as to attain higher output and growth. The operation of diverse interest rates (policy) regimes notwithstanding, it is still pertinent to inquire about the inter-relationships among interest rates, savings and investment in Nigeria, and what the connections and the directions of causality imply for interest rates policy, and savings mobilization and investments in Nigeria. Consequently, assuming diverse economic doctrines
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