This paper examines feedback causality between capital inflow components and currency black market premiums (BMP) in a panel of eight Middle Eastern and North African countries (MENA) over the period 1984-2004. MFR and average Wald statistics approaches were employed to test for causality. Both...

This paper examined theoretically and empirically privatization episodes in a sample of Sub-Sahara African countries that were under military regimes as of 1970. The theoretical analysis employed a principal-agent model to investigate the mutually beneficial profit-sharing collaborations between...

This paper envisages the existence of contagion in the Arabian Gulf economies. It examines whether there has been contagion in the region following the 1987 U.S. stock market crash and the 1997 Thai exchange rate devaluation. Results from annual data and tests based on correlation coefficients,...

This paper attempts to determine appropriate trade control systems for small, capital-poor economies facing external terms of trade disturbances, in terms of minimizing variations in the real sphere of the economy. An attempt has been made to explore the appropriate trade regime for Sudan over...