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Articles 1 - 30 of 32
Full-Text Articles in Macroeconomics
Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria
Central Bank Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December, 2009, Central Bank Of Nigeria
CBN Annual Report
The Central Bank of Nigeria (CBN) Annual Report and Statement of Accounts for the Year Ended 31st December, 2009 revealed that the country's Gross Domestic Product (GDP) grew by 6.7% YoY, compared to 6.0% in the previous year. This growth was driven by the non-oil sector, with the non-oil GDP growth rate of 8.3%. Within the non-oil sector, the agricultural sub-sector grew by 6.2%, while the whole-sector and retail sectors recorded growth rates of 11.5 and 10.5 per cent, respectively. The robust output recorded during the previous three years was driven by the government's optimism, which reflected in the oil …
A Nation In Dilemma, Professor Issam A.W. Mohamed
A Nation In Dilemma, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
following the Global financial Crisis there were economic collapses in all the world. Sudan officials claimed that the country was immune from that epidemic. Such declaration were truly weird as it has been deeply affected from the first instant. That article presented many questions about the economic and social conditions and the eminent southern Sudan, Darfur crises.
Alternative Estimators Of Cointegrating Parameters In Models With Non-Stationary Data: An Application To Us Export Demand (Working Paper), James J. Forest, Paul Turner
Alternative Estimators Of Cointegrating Parameters In Models With Non-Stationary Data: An Application To Us Export Demand (Working Paper), James J. Forest, Paul Turner
James J Forest
This paper presents Monte Carlo simulations which compare the empirical performance of two alternative single equation estimators of the equilibrium parameters in a dynamic relationship. The estimators considered are Stock and Watson’s dynamic ordinary least squares (DOLS) estimator and Bewley’s transformation of the general autoregressive distributed lag model. The results indicate that the Bewley transformation produces a lower mean-square error as well as superior serial correlation properties even with lower truncation lags for the lagged variables included in the estimation equation. An application is then provided which examines the nature of the equilibrium relationship between aggregate US exports, world trade …
Asian Currency Baskets: An Answer In Search Of A Question?, Charles Adams, Hwee Kwan Chow
Asian Currency Baskets: An Answer In Search Of A Question?, Charles Adams, Hwee Kwan Chow
Research Collection School Of Economics
This paper considers how a regional currency basket and the associated divergence indicators could be used in official surveillance. Recently, proponents of Asian currency baskets have referred to the role the ECU played in constructing exchange rate divergence indicators in Europe as evidence of the intrinsic usefulness of currency baskets for exchange rate monitoring. We show in this paper a number of problems with the use of regional currency-basket based divergence indicators. First, at a technical level, such indicators involve tracking regional exchange rates against a moving currency basket and can obscure underlying movements in bilateral exchange rates. Second, currency …
The Janjaweed And The Armed Movements Of Sudan, Professor Issam A.W. Mohamed
The Janjaweed And The Armed Movements Of Sudan, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
The emergence of the Janjaweed as an armed force working with the government to suppress rebellions in Darfur region outraged the international community. They were marked by brutality, destruction, burning, killings and mass rapes. They were also described as Arabs. However, that was not the whole picture, no one observed the living conditions of the Arabs or how were they victims also as the other inhabitants of Darfur. No one also observed that they were used by the Ingaz government to execute the dirty work and bear the consequences. The Arab tribes however, also had other thoughts as they realized …
Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos
Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos
Department of Political Science and Law Faculty Scholarship and Creative Works
This paper addresses a specific question: why has China grown so rapidly and Brazil not? To answer this question, it (i) establishes the basis for comparison between China and Brazil by contextualizing these countries within the BRICs concept, and (ii) presents a comparative analysis of Brazilian and Chinese reforms focusing only on the issue of macroeconomic policy, especially the monetary and exchange rate regimes, and its effect on growth.
Do Fiscal Responsibility Laws Matter? Evidence From Emerging Markets Suggests Not, John Thornton
Do Fiscal Responsibility Laws Matter? Evidence From Emerging Markets Suggests Not, John Thornton
John Thornton
This paper asks whether the adoption of fiscal responsibility laws (FRLs) has improved fiscal performance in nine emerging market economies, as measured by developments in their key fiscal balances. Examining these economies alone, their fiscal performance improved on average between the period before FLRs were adopted and the period after they were adopted. However, emerging market economies that did not adopt FLRs also experienced improvements in their fiscal performance around the same time. The finding suggests that the better fiscal performance in the nine emerging market economies resulted from something other than the adoption of FLRs.
Assessing The Viability Of Investment In Sudan (1979-2008), Professor Issam A.W. Mohamed
Assessing The Viability Of Investment In Sudan (1979-2008), Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
Most developing and underdeveloped countries beside Sudan suffer from low levels of income in addition to the low savings that are result from the lack of public savings channels. Hence, investments depend on the individuals' abilities on savings where they are major motivating vehicle for economic activity due to its direct correlation with capital accumulation process that increases the productive capacity for the national economy and help to create job opportunities and achieving economic development. Subsequently, the importance of the investment comes from the effective role that can be practiced on the national product. Currently, Sudan endures severe economic crisis …
Policies To Mitigate Procyclicality, John Kiff, Jochen Andritzky, Laura Kodres, Jodi Scarlata, Andrea Maechler, Pamela Madrid, Aditya Narain, Noel Sacasa
Policies To Mitigate Procyclicality, John Kiff, Jochen Andritzky, Laura Kodres, Jodi Scarlata, Andrea Maechler, Pamela Madrid, Aditya Narain, Noel Sacasa
John Kiff
The present crisis has focused attention on how procyclicality in the financial system can have outsized effects. This paper examines the reasons for this, specifically focusing on regulations or market practices that can accentuate economic cycles. In this light, the paper thus discusses the role of private sector risk management practices (including liquidity risk management), compensation practices, capital adequacy requirements and provisioning rules, deposit insurance regimes, and monetary policy actions. While recognizing various practical limitations, new policy responses are identified that could help to mitigate procyclicality.
Rogue Counrty And Potential Cooperation: The United States And Sudan And Feasible Economic Partnership, Professor Issam A.W. Mohamed
Rogue Counrty And Potential Cooperation: The United States And Sudan And Feasible Economic Partnership, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
The United States declared Sudan as a rogue country in 1995 due to many political considerations. It has imposed many economic and political sanctions against it since that time which represented hindrance to development and resulted in economic crises. Oil explorations started long time by Total Oil Company and resumed by Chevron that halted her activities in Sudan after the flaring of the civil war between the Northern and Southern parts of the country. That work was resumed in 1996 by Chinese companies and was crowned by success and commercial production in 1999. Although the economic situations of Sudan improved …
Who Cries For Sudan: من الذي يرثي السودان, Professor Issam A.W. Mohamed
Who Cries For Sudan: من الذي يرثي السودان, Professor Issam A.W. Mohamed
Professor Issam A.W. Mohamed
The institutional collapse in Sudan started long time ago. However, it has accelerator in the past years since Nivasha Comprehensive Peace Agreement and Darfur war.
Misaligned Incentives And Mortgage Lending In Asia, Richard Green, Roberto S. Mariano, Andrey Pavlov, Susan Wachter
Misaligned Incentives And Mortgage Lending In Asia, Richard Green, Roberto S. Mariano, Andrey Pavlov, Susan Wachter
Research Collection School Of Economics
This paper provides a conceptual basis for the price discovery potential for tradable market instruments and specifically the development of mortgage securitization in Asia and the potential dangers of such markets. Nonetheless we argue for the potential importance of securitization in Asia because of its possible role in increasing transparency of the financial sector of Asian economies. We put forth a model explaining how misaligned incentives can lead to bank generated real estate crashes and macroeconomic instability, with or without securitization under certain circumstances. We examine the banking sector’s performance in Asia compared to securitized real estate returns, to provide …
The Sustainability Of South African Fiscal Policy: An Historical Perspective, John Thornton, Lusine Lusinyan
The Sustainability Of South African Fiscal Policy: An Historical Perspective, John Thornton, Lusine Lusinyan
John Thornton
This article examines the issue of long-term fiscal sustainability in South Africa by applying a battery of recently developed unit root and cointegration tests to real revenue and spending data the period 1895 to 2005. The results provide evidence that, allowing for structural breaks, South African revenue and spending during this period were I(1) series and cointegrated, with the estimated long-run equilibrium relation supporting the presence of a weak deficit sustainability condition.
Analyzing And Forecasting Business Cycles In A Small Open Economy: A Dynamic Factor Model For Singapore, Hwee Kwan Chow, Keen Meng Choy
Analyzing And Forecasting Business Cycles In A Small Open Economy: A Dynamic Factor Model For Singapore, Hwee Kwan Chow, Keen Meng Choy
Research Collection School Of Economics
A dynamic factor model is applied to a large panel dataset of Singapore’s macroeconomic variables and global economic indicators with the initial objective of analyzing business cycles in a small open economy. The empirical results suggest that four common factors are present in the quarterly time series, which can broadly be interpreted as world, regional, electronics and domestic economic cycles. The estimated factor model explains well the observed fluctuations in real economic activity and price inflation, leading us to use it in forecasting Singapore’s business cycles. We find that the forecasts generated by the factors are generally more accurate than …
Financial Distress And Idiosyncratic Volatility: An Empirical Investigation, Lorán Chollete, Jing Chen, Rina Ray
Financial Distress And Idiosyncratic Volatility: An Empirical Investigation, Lorán Chollete, Jing Chen, Rina Ray
Lorán Chollete
No abstract provided.
Financial Implications Of Extreme And Rare Events, Lorán Chollete, Dwight Jaffee
Financial Implications Of Extreme And Rare Events, Lorán Chollete, Dwight Jaffee
Lorán Chollete
No abstract provided.
Dependence Of Macro Variables In The Us Economy, Lorán Chollete, Cathy Ning
Dependence Of Macro Variables In The Us Economy, Lorán Chollete, Cathy Ning
Lorán Chollete
No abstract provided.
Modeling International Financial Returns With A Multivariate Regime-Switching Copula, Lorán Chollete, Andreas Heinen, Alfonso Valdesogo
Modeling International Financial Returns With A Multivariate Regime-Switching Copula, Lorán Chollete, Andreas Heinen, Alfonso Valdesogo
Lorán Chollete
No abstract provided.
John Langshaw Austin: Evolution, Communication And Language Daily (John Langshaw Austin: Evolución, Comunicación Y Lenguaje Cotidiano) Spanish, Fernando Estrada
John Langshaw Austin: Evolution, Communication And Language Daily (John Langshaw Austin: Evolución, Comunicación Y Lenguaje Cotidiano) Spanish, Fernando Estrada
Fernando Estrada
In this paper the main purpose is to expose the relevance of focus of John L. Austin and their opposition a conception type on the communication. Austin elaborates - in its own terms - to “linguistic phenomenology,” with which revises some places thrashed critically. Those “you force illocutionary” and those “speech acts,” they will be central concepts in this analytic company. In the perspective of Austin should not make a mistake communication with information. The work that here develop it proposes some usually notices in defense of the normative functions of the language ordinary.
Labyrinth Of Modernity, Interpretation Of The Old Regime And The Revolution Of Alexis De Tocqueville (Laberinto De La Modernidad. Interpretación Del Antiguo Régimen Y La Revolución De Alexis De Tocqueville) Spanish, Fernando Estrada, José Daniel Parra
Labyrinth Of Modernity, Interpretation Of The Old Regime And The Revolution Of Alexis De Tocqueville (Laberinto De La Modernidad. Interpretación Del Antiguo Régimen Y La Revolución De Alexis De Tocqueville) Spanish, Fernando Estrada, José Daniel Parra
Fernando Estrada
CIPE in this book presents an interpretation of the Old Regime and the Revolution of Alexis de Tocqueville.
Meditations On Machiavelli (Meditaciones En Maquiavelo) Spanish, Fernando Estrada, José Daniel Parra
Meditations On Machiavelli (Meditaciones En Maquiavelo) Spanish, Fernando Estrada, José Daniel Parra
Fernando Estrada
The presentation of Machiavelli in the field of studies of Finance, Government and International Relations is twofold. First, show that we can better understand the problems of our time in the footsteps comprehensive than classical authors have left us. A student can recognize progressive power that were taking concepts such as politics, power, status, conflict, political parties, institutions, representation and social movements, from writing original authors as Florentine thinker.
Can Parallel Exchange Rates Forecast Commodity Prices?, John F. Roberts
Can Parallel Exchange Rates Forecast Commodity Prices?, John F. Roberts
Honors Theses
Commodity price uncertainty imposes large costs on society. On the macro level, it results in sudden and unexpected shifts in current account imbalances and real GDP volatility, while on the micro level, it leads to allocation inefficiencies. Accurate price forecasts have the potential to remove some of this uncertainty and allow for a more efficient distribution of resources, and thus, an increase in social welfare. Despite the obvious gains to be had from accurate commodity price forecasts, few models have been able to deliver these results. Chen, Rogoff and Rossi (2008) were the first to find a promising link between …
Quarterly Gdp Estimates For Selected South Asian Economies, Safdar Khan
Quarterly Gdp Estimates For Selected South Asian Economies, Safdar Khan
Safdar Khan
No abstract provided.
Analysis Of Kiren Sales Corporation’S Survey Data, Safdar Khan
Analysis Of Kiren Sales Corporation’S Survey Data, Safdar Khan
Safdar Khan
No abstract provided.
Financial Sector Reforms And Banking Sector Soundness: A Multivariate Evaluation, Safdar Khan
Financial Sector Reforms And Banking Sector Soundness: A Multivariate Evaluation, Safdar Khan
Safdar Khan
No abstract provided.
Inflation Dynamics: A Structural Estimation, Safdar Khan
Inflation Dynamics: A Structural Estimation, Safdar Khan
Safdar Khan
No abstract provided.
A Small Open Economy Dsge Model For Pakistan, Safdar Khan
A Small Open Economy Dsge Model For Pakistan, Safdar Khan
Safdar Khan
No abstract provided.
Exchange Rate Of Japan, Singapore And Hong Kong: A Time Series Analysis, Safdar Khan
Exchange Rate Of Japan, Singapore And Hong Kong: A Time Series Analysis, Safdar Khan
Safdar Khan
No abstract provided.
Financial Reforms And Efficiency Of Banking Sector Of Pakistan: A Survey Of Empirical Literature, Safdar Khan
Financial Reforms And Efficiency Of Banking Sector Of Pakistan: A Survey Of Empirical Literature, Safdar Khan
Safdar Khan
No abstract provided.
Is Marketing Research The Cure For Norton Healthcare Kosair Children’S Hospital’S Ailments?, Safdar Khan
Is Marketing Research The Cure For Norton Healthcare Kosair Children’S Hospital’S Ailments?, Safdar Khan
Safdar Khan
No abstract provided.