Prior to the 1970s, agricultural exports were Nigeria's main sources of foreign exchange. During this period, Nigeria was a major exporter of cocoa, palm oil, palm kernel, groundnuts and rubber, and in the 1950s and 1960s, 3%-4% annual output growth rates for agricultural and food crops were...

Previous studies on the Nigerian parallel market found "return predictability". Based on this finding, we quantify, using Hansen's GMM estimation technique, the risk-return charateristics implicit in the simplest trading strategy of "buy and hold" an optimal portfolio of currencies. The...

Until the early 1980s, foreign exchange rate controls were the dominant policy in Ghana, Nigeria and Uganda. However, because of the huge fiscal deficits and expansionary monetary policies, coupled with chronic terms of trade shocks and policy error/inadequacies, the foreign exchange rates is...

En utilisant des micro et macro-economiques et a partir des techniques parametriques et non-parametriques, le document presente des applications empiriques des diverses mesures du developpement du marche boursier.

Given the negative impact of persistent unsustainable fiscal deficits on the Nigerian economy, there is now a consensus among interested parties on the need to address the problem effectively. The literature suggests three approaches for this purpose: increase in revenue, reduction in...

This paper examines the effect of budget deficit on the current account balance in Nigeria, covering the period from 1973 to 1993. This is motivated by the fact that the magnitude of government has increased with amazing rapidity since the early 1980s. Simultaneously, the current account balance...

This study is designed to assess the impact of taxation on the development of the Nigerian capital market from the standpoint of the investors.