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International Stock Market Linkages in Southern Africa

"This paper investigates the extent of linkages between three stock markets in Southern Africa. Specifically Botswana, Zimbabwe and South Africa. What is further also considered is the extent to which these markets are related to emerging markets ...

Banking on Africa: Chinese financial institutions and Africa

"The Chinese drive into the resource sector in Africa has already received much attention in the media and, increasingly, in scholar literature. What has not been well understood is the role of Chinese financial institutions in support of the coun...

The Nigerian Foreign Exchange Market: Possibilities for Convergence in Exchange Rates

"This study evaluated the possibility of exchange rate convergence in Nigeria through the institutional differences that segment the Nigeria forex market. The study extended Peterside's equation of Nigerian multiple exchange rates by (a)adding mor...

The Real Exchange Rate and Ghana's Agricultural Exports

"This study examines the effects of the real exchange rate of the cedi on agricultural price incentives and agricultural exports in Ghana. It is divided into six sections. The problem which motivated this study, the study's objectives and relevanc...

Board Independence and Firm Financial Performance: Evidence from Nigeria

"This study examined the relationship between board independence and firm financial performance. The key results were that share ownership was highly concentrated in Nigeria, and this structure tended to engender board structures with close famil...

The Balance of Payments as a Monetary Phenomenon : An Econometric Study of Zimbabwe's Experience

"This paper tests the monetary approaches to Zimbabwe's balance of payments during the period 1980 to 1991 and it tests the validity of the hypothesis that under the fixed exchange rate system, changes in the nation's demand for money relative to ...

International Trade and Emerging Markets Since the Crisis

"This paper attempts to make sense of the post-crisis state of play in international trade, by taking a forward look at emerging markets and global trade policy. After describing the political and economic context for international trade up to 200...

The Logic of the B(R)ICSAM Model for G8 Reform

The BRICs model developed by Goldman Sachs in its publication, Dreaming With BRICs: The Path to 2050, has attracted some considerable attention.1 From an economic perspective, it has enormous attractions in lending attention to four countries (Bra...

Somalia: The Tough Part Is Ahead

Somalia’s Islamic Courts fell even more dramatically than they rose. In little more than a week in December 2006, Ethiopian and Somali Transitional Federal Government (TFG) forces killed hundreds of Islamist fighters and scattered the rest in a li...

Global Economy in Crisis : A Rethinking of Received Economic Doctrine with some Evidence from Nigeria

"This paper examines the impact, policy responses and implication of the global financial crisis on Nigeria. It also reviews the received economic doctrine which has fundamentally contributed to the crisis and calls for a rethinking of the dominan...

Indices of Effective Exchange Rates : a Comparative Study of Ethiopia, Kenya and the Sudan

"This paper looks at the adequacy and consistency of exchange rate indices for African countries. The indices are adequate for comparing exchange rate movements between industrialized countries and with comparable economic performances. When one ...

Growth and Foreign Debt: the Ethiopian Experience : 1964-86

"In this paper a macro model is used to examine the relationship between internal and external debt and economic growth, using Ethiopian data. The idea behind the model is that a country's rate of economic growth must at least match the annual rat...

International Stock Market Linkages

"In this paper, the extent of linkages among three stock markets in Southern Africa, specifically Botswana, Zimbabwe and South Africa are investigated. The extent is considered to which these markets are related to emerging markets more generally ...

International Debt Management in Africa

"This paper discusses various aspects of the problems African governments face in financing their generally large budgetary deficits. Its primary objective is to focus on the main methods of financing which are realistically available given the ge...

Institutional Reforms and the Management of Exchange Rate Policy In Nigeria

"The purpose of this study is to report, from an institutional perspective, Nigeria's experience of using the auction system in the allocation of foreign exchange, as a way of arriving at "a realistic exchange rate". In addition, the various modi...

Institutional, Traditional and Asset Pricing Characteristics of the Nigerian Stock Exchange

"The institutional, traditional and asset pricing characteristics of the Nigerian Stock Market were examined. The analysis of the institutional features of the market has revealed the existence of a substantial regulatory framework to protect inve...

Liberalization of the Foreign Exchange Market in Kenya and the Short-Term Capital Flows Problem

"The paper analyses the relationship between real exchange rate movements and real interest rate differential on the one hand, and the impact of short-term (speculative) private capital flows and domestic and external shocks on the real exchange r...

Money Supply Mechanisms in Nigeria (1970-1989)

"This study investigates and analyses the process of money supply in Nigeria in order to provide an explanation for the inflationary acceleration in money supply that occurred in the period 1970-1989. Initial double-digit inflation was found to ha...

Price Reactions to Dividend Announcements on the Nigerian Stock Market

"The study uses a modified market model to investigate whether the Nigerian stock market reacts efficiently to dividend announcements in terms of price adjustments. The study finds that the cumulative excess returns (CERs) for dividend paying fi...

Price and Exchange Rate Dynamics in Kenya: An Empirical Investigation, (1970-1993)

"This paper investigates the relationship between domestic and foreign price levels and the exchange rate and other macro-variables. In the first part, the real exchange rate is estimated as a cointegrating vector that spans the variables in a pur...

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