Focusing on capital flight of the worst kind for developing countries-stolen public assets-we develop a model which shows that both the threat of losing elective office and its complement, the threat of delayed detection, do not affect the choice of whether to plunder or not. Rather they...

Within the framework of Markowitz-Tobin portfolio theory, we empirically investigate potential benefits to a US investor from diversifying into equity markets in Sub-Saharan Africa. We infer, based on the state of these economies for the period studied, that potential gains accrue to a US...

Formal ICT governance structures exist although the efficacy of both the regulator and parliamentary oversight committee remain contentious. On the other hand, the Minister of Communications exercises a strong policy oversight that is viewed as not leading to the envisaged growth in competition...

Previous studies on the Nigerian parallel market found "return predictability". Based on this finding, we quantify, using Hansen's GMM estimation technique, the risk-return characteristics implicit in the simplest trading strategy of "buy and hold" an optimal portfolio of currencies. The...

A model of interbank rivalry is developed and tested in the context of a one period duopolistic game with stochastic variability in deposit and loan demand. A procedure involving two specification tests is used to examine model implications. Results confirm that banks change their lending rates...

Are frequents in freely floating exchange rates attributable to stabilising speculation reflecting changes in the fundamental determinants of currencies or to destabilising behaviour of various kinds, driving prices away from fundamentals, and creating 'excess' volatility? This paper, motivated...