Recent empirical and theoretical literature on the impact of real exchange rate devaluations on economic performance questions the traditional expansionary effect generated within standard Mundell-Fleming models. Contractionary devaluations may arise when firms face maturity or currency...

On the 7th of April 2014, Nigerians awoke to news about the country's economy: They learnt that the Nigerian economy had become the largest economy in Africa with a gross domestic product (GDP) of around 80 trillion naira. What joy that would spawn in Nigerians and how reassuring that would be...