From a normative perspective, it is striking that the degree of central bank independence (CBI) varies considerably across countries. Taking a political economy perspective, this paper demonstrates how different degrees of CBI may be the result of strategic policy-making. While an independent...

From a normative perspective, it is striking that the degree of central bank independence (CBI) varies considerably across countries. Taking a political economy perspective, this paper demonstrates how different degrees of CBI may be the result of "strategic policy-making". While an independent...

Nigerian businesses, federal and state governments alike have historically tended to look abroad to fund large projects. Facts on the outstanding values of bonds, loans and equity confirm that Nigerian capital markets are thin, compared with the sub-Saharan African average; some segments have...

The rapid digitization of finance, the fast pace of technology advancement and the rise of data-driven innovation has transformed financial sectors and created opportunities for financial authorities that are pursuing financial inclusion to adapt their regulatory and supervisory approaches....

The statement by the central bank of Nigeria that N5000 will be introduced and N5, N10, and N20 notes will be coined in 2013 has generated a lot of debate. Many of the contributions have however strayed off the key point. Namely, the reason currency notes and coins are necessary. Notes and coins...

Naira notes have attracted global attention at the turn of 2023 for the wrong reasons. The currency redesign policy was a needless exercise that turned out to be a chaotic wild goose chase, until the Supreme Court suspended it on legal grounds.The Supreme Court Ruling has however not completely...

This paper demonstrates that the facts, issues, and reasoning that justified the N100, N200, N500, and N1,000 notes in Nigeria twenty five years ago should also justify N2,000, N5,000, N10,000, and N20,000 notes today. It reveals the the Central Bank of Nigeria (CBN) should go beyond its...

From a normative perspective, it is striking that the degree of central bank independence (CBI) varies considerably across countries. Taking a political economy perspective, this paper demonstrates how different degrees of CBI may be the result of strategic policy-making. While an independent...

This paper is for presentation at a program on the dismemberment of the economics program at the University of Virginia in the mid-1960s. It is a literary flying buttress to “Virginia Political Economy, Rationally Reconstructed.” Where the earlier paper mostly looks forward from 1963, this...

The ability of a nation to resist a crisis depends on the institutional or spatio-temporal fixes it possesses, which can buffer the effects of the crisis, switch the crisis to other nations or defer its effects to the future. Corporate governance configurations in a given country can function as...