No abstract

It has been enunciated that it is possible to reduce the size of the sacrifice ratio in an economy without a corresponding increase in the rate of inflation. Besides, for the Nigerian economy, there are issues relating to the inflationoutput relationship, among which is how inflation inertia impacts on output and unemployment. It is therefore apt to ascertain what Nigeria's sacrifice ratio could be after many successful inflation reductions over the years. Adopting the Instrumental Variables Generalized Method of Moments (IV-GMM) technique and using data from1970-2015, the findings suggest that inflation inertia has a significant negative impact on the actual rate of inflation in Nigeria. It was also revealed that the percentage of a year's real GDP that must be forgone to reduce inflation by 1 percent in Nigeria is 5.1 while 53.6 percent of output was sacrificed in 1982. Equivalently, a sacrifice of 26.6 percent of cyclical unemployment was made in the same year; while the highest percentage of GDP was sacrificed in 1990 and the lowest in 2007.

No abstract

The main aim of this study is to examine the Bolivarian regimes and governance deficit in Venezuela, 2015-2019. The study specifically focuses on the consequences and implications of governance paucity to the Venezuelans, more importantly in their economic emancipation, international relations, achieving social cohesion and development in the country. The work argued that the major problem with the Venezuela crisis rests significantly on the incoherent government policy framework and its inability to encourage diversification in the economy. The study further adopted content analysis techniques as the methodology and structural functionalism model. The findings of the study show that inconsistence in policy framework has resulted in a governance deficit in Venezuela and the state is drawn to a capitalist outburst that vehemently determines the price of oil in Venezuela. The paper thus recommends improvement in governance which will encourage transparency, accountability, and promote a diversified economy.