With the aid of the St. Louis equation, this study applies panel data technique to real variables of some selected African countries with extended data from 1970 – 2012. The outcomes support both Keynesian and monetarist positive policy assertions. The monetary base and government expenditure...

Abstract This paper empirically examines the impact of exchange rate volatility on inflation in Nigeria using annual time series data from 1986 – 2012. The methodology employed includes: ADF, PP and KPSS test of unit root, Johansen Julius cointegration test, VECM, granger causality test,...

Currency substitution is a widely spread phenomenon in developing countries with high level vagueness of its concept and causes. Therefore, this paper goes all out to examine the relationship that exists between currency substitution and some macroeconomic variables such as exchange rate,...

This study investigates the upshot of external debt on economic growth in West African countries using panel data techniques of analysis for a period of 1971 -2012. The aftermath of the analysis shows a negative and significant relationship between external debt and economic growth in the...