This study examines the effects of bilateral exchange rate on trade flows in the WAMZ and assesses the role of complementarity trade structures in enhancing intra-WAMZ trade. The modified gravity model is used to assess whether efforts by WAMZ countries to facilitate transactions in national...

Monetary conditions index (MCI) has become an important indicator of monetary policy performance since its introduction by Bank of Canada in the 1990s. This is so, as the index allows central banks to gauge monetary policy stance and effectiveness. This paper builds an MCI for the seven (7)...

This study examines the persistence of currency substitution in Nigeria by applying the Bounds testing approach to cointegration and including a ratchet variable in the estimated Autoregressive Distributed Lag (ARDL) model. Empirical results show that factors such as exchange rate risks,...