July 2009

Macro-economic level corporate governance and FDI in emerging markets: Is there a close relationship?

  Many experts believe that foreign direct investment (FDI) can provide substantial benefits to emerging market countries and help to speed up the economic development process. National accounts data also shows FDI to be the single largest component of capital inflows to the vast majority of emerging market countries. Thus, it is crucial to determine the drivers and determinants of inwards FDI flows to such...

Author(s): Adewale Adeoye

July 2009

Does energy consumption contribute to economic performance? Empirical evidence from Nigeria

  This article investigates the relationship between energy consumption and the Nigerian economy from the period of 1970 to 2005. The energy sources used to test for this relationship were crude oil, electricity and coal. By applying the co-integration technique, the results derived infer that there exists a positive relationship between current period energy consumption and economic growth. With the exception...

Author(s): Gbadebo, Olusegun Odularu and Chinedu Okonkwo

July 2009

Sustainability of exchange rate policies and external public debt in the Mena region

  The conduct of exchange rate and fiscal policies in the small open Mena economies has recently become critical in determining those countries future economic and fiscal situation, due to the accumulation since the early 1990s of a sizable level of external debt, and the pursuit by some countries of a fixed exchange rate regime. This study presents thorough empirical analysis of the sustainability of exchange...

Author(s): Simon Neaime