This paper considers the structural and institutional determinants of investment activity in selected African countries within a neoclassical framework. Generalized method of moments and a family of panel data estimation techniques are utilized in addition to nonparametric kernel regression...

Given its economic structure, high energy intensity and simultaneity as an oil importing and exporting economy, Nigeria stands out as a special case to study the oil-price-macroeconomy relation. This paper studies the linear and asymmetric impacts of oil price shocks on the Nigerian economy...

This paper investigates the rationality of proceeding with a common currency in West Africa by testing for symmetry and speed of adjustment to four underlying structural shocks among a pair of 66 ECOWAS economies. The findings reveal that there is relatively high degree of symmetry in the...

As African countries await the birth of her monetary union, the link between economic policies and the real economy will continue to dominate policy debate. This paper investigates whether financial development influences the effectiveness of monetary policy on output and inflation in Africa. We...

In this study, we argue that conventional methods of measuring agricultural productivity which only uses information about marketed inputs and outputs does not give a true representation of how sustainable the activities of the sector are. Motivated by the Solow-type growth accounting framework,...