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Funding African Governance Institutions and Processes: Insights and Lessons

"This paper examines the financing of selected governance institutions in Africa, looking at national, continental and international levels and at the institutions and processes that assess, improve or incentivise governance. Specifically, anti-corr…

Harnessing Zambia’s External Debt for Development

"In recent times there has been debate on Zambia’s steadily growing external debt. This comes in the wake of debt relief efforts of the Highly Indebted Poor Country (HIPC) and Multilateral Debt Relief (MDR) initiatives which saw a reduction of the …

Capital Flight and External Debt in Nigeria

"This study concentrates on capital flight and external debt in Nigeria. The study will focus on the definition, magnitude, determinants, mechanisms and consequences of capital flight. The analysis will also explore the possible measureable assets…

Corporate Governance Mechanisms and Firm Financial Performance in Nigeria

"This study aims to provide additional insights into the relationship between governance mechanisms and firm financial performance in Nigeria. The article focuses on the five dimensions of corporate governance,abstracting from other dimensions such …

Dynamic Inter-Links Among the Exchange Rate, Price Level and Terms of Trade in a Managed Floating Exchange Rate System: The Case of Ghana

"This study examined the dynamic inter-relationships among domestic price level, nominal exchange rate, terms of trade of cocoa, bank rate, domestic credit and foreign exchange reserves using the cointegration, vector error correction (VEC) and vect…

Facing the Global Financial Crisis - Policy Lessons from Small Mauritius

"The objective of the paper therefore is to assess the case of a small island developing state like Mauritius where government has attempted to mitigate the negative consequences of the global economic crisis through an appropriate policy mix. So f…

Financial Deepening, Economic Growth and Development: Evidence from Selected Sub-Saharan African Countries

"This study identifies the range of financial assets that can adequately approximate financial deepening,which simply means an increase in the supply of financial assets in the economy. FD is represented by two variables, the degree of financial int…

Financial Sector Liberalization and Productivity Change in Uganda's Commercial Banking Sector

"The study employed quarterly data over a 13-year period from 1993 to 2005 to study the evolution of Total Factor Productivity (TFP) and its determinants among 11 banks in Uganda. Productivity was measured using the Malmquist index while the determi…

Financial Sector Reforms and Interest Rate Liberalization: The Kenya Experience

"The study explored the sequencing and actions so far taken in the liberalization process in Kenya. The study also examined the interest rate levels, spreads and determining factors, as an indicator of financial sector response to the reform process…

Global Economic and Financial Crisis and Trade: Kenya’s Experience

"This paper investigates the effects of the global economic and financial crisis in Africa and whether or not Kenya’s trade sector has been a channel for transmitting the crisis in the country. The analysis of the effects of the crisis in Sub-Sahara…

Global Economic Crisis : The Need for African Government Interventions for Rapid Economic Recovery and Stability

"The objective of this paper is to discuss measures required by African governments in cushioning the effects of the global economic crisis on the region’s economies. To this end, the paper is organized into five sections. Aside from the introductio…

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 dominant …

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 tr…

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 rate …

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 an…

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 gene…

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 modifi…

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 invest…

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 rat…

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 have…

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