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Conclusion

In: Banking Reform in Nigeria

Author

Listed:
  • Yomi Makanjuola

    (Freelance Business Consultant)

Abstract

The former British Prime Minister, Winston Churchill, once said that ‘Democracy is the worst form of government except all the others that have been tried.’1 Similarly, the failure of the centrally-planned economic model in the 20th century was proof-positive that perhaps ‘Capitalism is the worst form of economic governance except all the others that have been tried’. Today, the drive for strong institutions, a market-based economic model (characterised by individual initiative, property rights and the profit motive), and adherence to the rule of law are key aspirations of less-developed economies migrating towards a better future. In this pursuit, few institutions are as pivotal to long-term economic success as the central bank.

Suggested Citation

  • Yomi Makanjuola, 2015. "Conclusion," Palgrave Macmillan Studies in Banking and Financial Institutions, in: Banking Reform in Nigeria, chapter 13, pages 217-219, Palgrave Macmillan.
    • Handle: RePEc:pal:pmschp:978-1-137-49353-8_14
    DOI: 10.1007/978-1-137-49353-8_14
    as

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