December 2013
Foreign direct investment - economic nexus: The role of the level of financial sector development in Africa
This study examines the relationship between foreign direct investment (FDI) and economic growth considering the influence of financial sector development (FSD). We empirically determine the threshold level of three FSD indicators that would ensure the positive association between FDI and growth once these threshold levels are exceeded. The policy implication of this study is that policies directed towards attracting...
December 2013
Externalities of global financial crisis and coping strategies among emerging African economies
The recent global economic recess has far-reaching implications on the stock market, employment of labour and survival of the production sector. Investors are poorly compensated, jobs are lost in thousands and hitherto viable industries are folding up. The African economy is not spared either. Policy makers and technocrats are now being challenged in an attempt to arrive at workable solutions to the current economic...
December 2013
Public debt, capital stock and economic growth: An analysis of fiscal sustainability in Brazil
This article analyzes the fiscal sustainability of the Brazilian economy in recent decades. It evaluates the solvency of public debt in Brazil through the cointegration tests that showed a long-term relationship between public revenue and expenditure in the period of 1975 (I) to 2010 (II). The results show a solvency ratio between the Revenue / GDP ratio and expense / GDP ratio. That is, for each $ 1.00 spent per...
December 2013
Exports, domestic demand and economic growth in Ethiopia: Granger causality analysis
Fundamental relationships between different macroeconomic variables may follow certain common theories, but local preferences are also decisive in determining their unique behaviour. Looking into domestic demand-growth nexus and export-growth nexus is, therefore, needed in Ethiopia, so as to understand the long -run economic stance and to capture the short-run dynamics in the national economy. Thus, the aim of...
December 2013
Working capital management and profitability: Evidence from Ghanaian listed manufacturing firms
Working capital management plays a vital role in the success of businesses because of its effect on profitability and liquidity. The purpose of this study is to examine the relationship between working capital management practices and profitability of listed manufacturing firms in Ghana. The study used secondary data collected from all the 13 listed manufacturing firms in Ghana covering the period from 2005-2009. Using...
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