Economic and Financial Review

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Browsing Economic and Financial Review by Subject "Africa"

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    Debt, adjustment and economic liberalization in Africa by E. Wayne Nafziger: review
    (Central Bank of Nigeria, Research Department., 1995-09) Abdulkadir, M.
    A review of the article "Debt, Adjustmentent, and Economic Liberalization in Africa" article on adjustment lending (AL), structural adjustment programmes (SAPs) and the role of the Bretton Woods institutions would be useful to policy makers in sub-Saharan Africa, Nigeria inclusive, in formulating and executing economic reform programmes.
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    A framework for resolving Africa's debt crisis
    (Central Bank of Nigeria, Research Department., 1995-09) Obaseki, P.J.; Bello, B.G.
    This paper examines the various measures which have been put in place in the past to resolve Africa's debt crisis. Relevant economic indicators show that Africa's outstanding debt is very large considering the continent's weak production stuctures, negative external balances and high external debt service burden. Various, strategies adopted in the past to resolve Africa's debt crisis seem to have failed to address the debt service capacity of African countries. The paper suggests that an alternative framework for resolving Africa's debt crisis would be predicated on the existence of conducive domestic economic conditions and understanding by the international community.
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    A panel analysis of oil price dynamics, fiscal stance and macroeconomic effects: the case of some selected African countries
    (Central Bank of Nigeria, Research Department., 2013-03) Omojolaibi, Joseph A.; Egwaikhide, Festus
    The study makes use of quarterly data that spans the period from 1990:q1 to 2010:q4. A panel vector autoregressive (PVAR) technique was employed to examine the impact of oil price dynamics on the economic performance of five (5) oil exporting countries in Africa. The countries are: Algeria, Angola, Egypt, Libya and Nigeria. In order to achieve this, the study used the following variables: Oil price volatility, real gross domestic product (real GDP), fiscal deficit, gross investment and money supply shocks. The impulse response functions show that of all the macroeconomic variables considered, gross investment responds more to oil price volatility than fiscal deficit, real GDP and money supply. On the whole, the findings suggest that gross investment is the main channel through which oil price dynamics influenced the macroeconomic performance of these economies.
Central Bank of Nigeria