The paper analyzes the current status of the US and UK’s P2P lending regulation and compares China’s regulatory system with the US and UK’s to extract experiences and lessons from relatively mature regulation. For the US, it does not make any new laws but relies on current existing laws and regulations to supervise P2P lending industry. US’s strong functional regulatory pattern makes it become the strictest in regulating P2P lending among three countries, emphasizing compulsory registration system and constant information disclosure management. Strict regulation makes the P2P lending market more orderly but also restricts the industry’s innovation. For the UK, it does not count on existing laws, but reassesses P2P lending industry and proposes new legal instrument to regulate this novel industry. Appropriate laws can regulate related businesses effectively and also leave enough space for industry’s innovation. Another bright spot of UK’s P2P lending regulation is the strong self-discipline from the industry association, making a great contribution to standardize P2P lending industry, promote benign competition, and protect consumers.
This research illustrates the status quo of China’s P2P regulation by corresponding the current laws and rules with the business models and risks analyzed above. In this paper, China’s current P2P lending regulation is presented in terms of the existing laws, department rules, industry associations, and the adjudication situation of problem platforms. Through the research, it can be seen that the existing laws have blank and gray spaces for P2P lending industry. New department rules are expected to make up those legal gaps but have relatively low legal force. Regarding the industry self-regulation, the national industry association has just been established and has low coverage rate, while the local associations seldom have substantial effects. Besides, the adjudication situation of problem platforms is not ideal.
This study examines the impact of monetary policy on price stability in Nigeria from 1970 to 2014. The data obtained for the purpose of the study through Central Bank of Nigeria Statistical Bulletin were analysed using ordinary least square regression (OLS) model, unit root test and Johansen co-integration test. Consumer Price Index (CPI) is used as a proxy for general price level, which is the explained variable. Exchange rate and money supply were used as explanatory variables. The research also addressed various problems associated with monetary policies such as budget deficits, change in policy formulation, lack of enabling environment in the financial market and political instability. The result of the findings reveals that exchange rate and money supply actually influenced price stability in Nigeria both in the short-run and long-run. This is evidenced by 90% coefficient of determination and F-Statistics of 168.30 which is higher than the tabulated F-Statistics
The research analyzes theoretically and empirically the relationship between exports of goods and services and economic growth in Togo. The objective of this study is to determine the impact of exports on economic growth in Togo. To achieve the objective, the methodology of the research will present the theoretical framework of the analysis model and the econometric analysis of the estimate of the contribution of exports to economic growth of the country. We collected data from Central Bank of West African Countries and the General Directorate of Statistics and National Accounts of Togo. Firstly the results of our analysis showed that exports of Togo are mainly composed of primary products which values steadily decreased during the 2000s because of the difficulties experienced by the major chains and degradation of equipment export of phosphates. Secondly exportation of goods and services has a positive and significant impact on the economic growth in Togo in the short and long run. This impact is more important in the long run than short run. Thus, to achieve the objectives of the Accelerated Growth Strategy for the Promotion of Employment, Togo should promote exportation of goods and services for the well-being of the population.
Commercialization smallholder farmer has been taken as one of the frontline strategies to extricate the community out of poverty and distinguish the nation among the middle income economies for the past several decades. Investments have been geared toward the same with only little progresses in the endeavor. Market participation and degrees of commercialization still remains unsolved puzzle. This paper investigates smallholders’ market participation, degree of commercialization and factors determining commercialization level using a survey of 453 HH in central part of Ethiopia. Household Commercialization Index (HCI) approach was used to measure degree of commercialization, while a double hurdle regression model was employed to identify the key determinants for market participation and degree of commercialization. The result indicates that significant proportions of HHs were still out of a product market and the degree of commercialization still remains very low. The policy recommendation is that government should focus on the boasting of production and productivity through fertility enhancements, improve access to market information through improved agricultural logistics, increased livelihood diversification, and build resilience to climate change induced shocks and stresses.