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Explaining financial crises in an African open Economy

Abstract: 

This study investigated the probable sources of crisis in the financial sector of Nigeria, over the period, 1960-2014. Two distinct phases of financial crises in the country were enclosed by the scope of the study. Both the policy and economic environments of the country might have contributed greatly to the scale of the crises experienced in the different periods. An analytical approach embedded in allied studies defined the empirical model. The data employed were subjected to preliminary investigations in order to eliminate the possibility of spurious statistical results. Estimates from a regression model were obtained for both endogenous and exogenous factors. Most of the endogenous factors were found to be remarkably consistent in signs and significance. The influence of most of the exogenous factors and closely linked domestic activities found parallels in business cycles of the country. Greater care in policy design and reduced propensity to borrow externally could significantly moderate the negative influence to the determinants of growth in the system.

Corporate Author: 
Ethiopian Economics Association (EEA)
Publisher: 
Ethiopian Economics Association (EEA)
ISBN/ISSN: 
1993-3681
Primary Descriptors: 

Business Fluctuations; Open Economy Macroeconomics

Secondary Descriptor: 

Policy design and consistency; Policy Coordination

Geographic Descriptors: 
Africa
Cataloge Date: 
01/01/2019
Broad Subject heading: 
financial markets and the macro Economy
Call Number: 
330.5 ETH JOU 2018
Serial Key Title: 
Ethiopian Journal Of Economics
Publication catagory: 
Content type: 
Volume: 
XXVII
Year: 
April 2018
Publication date: 
2018-11-01 00:00:00
Number: 
1
Place of publication: 
Addis Ababa
Type of material: 
Book
Current frequency: 
Semiannual