Government policies and the feedmill industry in Nigeria

This paper considers the problems confronting the feedmill industry in Nigeria as among the structural distortions of the macroeconomy. It identifies lapses and inconsistencies in government policies which serve as modifying factors in the operation of the industry. Some policy measures capable of boosting the activities of the feedmill industry are suggested including tariff structures, tax holidays and tax relief, provision of adequate storage facilities, exemption from excise tax and a proper linkage between research and the feedmill industry.     

Effects of sterilising a balance of payments surplus on domestic yields—A formal analysis

This paper examines the effects of sterilising a surplus, using open market operations, on the level and structure of interest rates. The framework adopted is a portfolio balance model of the financial sector. The paper begins by assuming residents hold assets in only three forms—domestic money, domestic bonds, and foreign assets. Initially, the surplus emerges in one of three ways—the foreign interest rate falls, there is an exogenous inflow, or there is an ongoing current account surplus. The analysis is then extended to the case where there is some direct real investment. Finally, the model is refined to allow residents to hold four assets, including new equities.     

A computer test bench for checking and adjusting the automatic regulators of generator excitation systems

A computer test bench for testing and debugging natural samples of the automatic excitation regulation systems of generators, the protection units and the power part of the excitation system is described. The bench includes a personal computer with specialized input-output circuit boards for analog and digital signals, and enables the time and cost involved in developing and checking control systems to be reduced considerably. The program employed operates in real time and enables the automatic excitation regulators of synchronous generators and generators with longitudinal-transverse excitation in a specific power system to be adjusted. __________ Translated from élektricheskie Stantsii, No. 3, March 2008, pp. 47–53.