Persistent energy consumption issues are ascribed to the failure of energy planners to understand the various macroeconomic factors that influence energy consumption. Therefore, we investigated the factors influencing energy consumption in six net African oil-exporting countries (AOECs) between...

In this study, we estimated the short-run and long-run effect of terms of trade, trade openness and government spending in Nigeria from 1981 to 2019. Data for this study was sourced from the World Bank’s World Development Indicators (WDI), Central Bank of Nigeria’s (CBN) Statistical...

In the latter half of the fourth millennium BC, our ancestors witnessed a remarkable transformation, progressing from simple agrarian villages to complex urban civilizations. In regions as far apart as the Nile Valley, Mesopotamia, Central Asia, and the Indus Valley, the first states appeared...

As the 2008 financial crisis spread globally, it became widely apparent that an essential ingredient to preventing future systemic crises was reform of the regulation of financial markets. Two ambitious initiatives for regulatory reform are the European Union's European System of Financial...

This paper assesses the effect of openness on corruption, using foreign direct investment (FDI) inflows as a measure of openness, after trade intensity is accounted for. We use a broad cross section of countries over the period 1970 to 1994 and address th

The economics literature provides ample evidence that higher corruption discourages FDI inflows. In this paper we address, for the first time in the literature in a systematic way, the exact reverse link, i.e., the empirical effect of FDI inflows on corruption. We present a simple model that...

In the presence of lumpy adjustment costs of investment, globalization may have non-conventional effects on the level of investment and its cyclical behaviour. Free trade may lead to a discrete ‘jump’ in the level of investment, as it triggers discrete terms-of-trade changes which either...

With the completion of EMU, tax competition and, more in general, locational competition is high on the EU policy agenda. In contrast to the standard neo-classical reasoning, recent advances in the theory of trade and location have shown that tax competition does not necessarily lead to a race...

Economic integrations have a positive effect on growth and development of national economies and in a greater welfare of the society. But the growth of national economies has a negative impact on the growth of the size of government. It seems, based on the cases of Poland, Lithuania, Latvia and...

Taking a normative approach this paper identifies and develops basic principles for the good governance of central banks, namely independence, democratic accountability and transparency. In doing so the paper focuses on the arrangements surrounding the primary task of a central bank, i.e. the...