This study investigates the effect of the external debt burden on economic growth and development of Nigeria .It adopted regression analysis of OLS on secondary data sourced from CBN, Economical and Financial review, Business times, Financial Standard and relevant publication from Nigeria on variable like National Income, Debt Service Payment, External Reserves, Interest rate among others. The ...

This paper analyses a variety of aspects of the ‘miraculous’ performance of the Australian economy in the 1990s from an international perspective. We start by considering the conduct of macroeconomic policies, arguing that a mixture of good institutional design and wise decision-making has ensured an appropriate macroeconomic stance, particularly through the turbulent period of the Asian Crisis...

We study an open economy where a pro labor and a pro business candidate compete in an election. The winner chooses taxes, which affect investment returns. Electoral outcomes depend on the size of the foreign debt, but the debt itself reflects expectations about the election. The resulting interaction is novel and has several implications. Elections are associated with increased volatility. Poli...

This paper studies the impact of migration and workers’ remittances on human capital economic growth when young individuals face debt constraints to finance education. We consider an overlapping generations model à la de Croix Michel (2007). In this no-commitment setting, education is engine growth. Individuals may choose default their be excluded from asset market. show that tend tighten borro...

The external balance sheets of many emerging market countries are distinguished by their holdings of assets primarily in the form of foreign debt and foreign exchange reserves, while their liabilities are predominantly equity, either FDI or portfolio. In this paper we investigate the claim that this composition served as a buffer for the emerging markets during the global financial crisis of 20...

a r t i c l e i n f o JEL classification: G32 G12 G01 F31 D53 D82 Keywords: Financial risk Foreign exchange rate Nonlinear exposure Asymmetric exposure Nonparametric methods Using weekly data from 2003 to 2011, this paper examines the presence of exchange rate exposure in thirteen Canadian industry sectors. This study contributes to the literature in a number of ways: (i) it considers the prese...

Using the Panel Study of Entrepreneurial Dynamics, we study if the problems of asymmetry and opacity of information, asset specificity, agency problem and signaling theory predict the financial structure at inception. Thus, we conduct a study in two steps. First, by analyzing the descriptive statistics, we find that novice entrepreneurs turn first to internal sources of finance. Then, they appl...

Migrant remittances are one of the largest sources of external finance for many developing countries in the world, yet the distributional impact of these flows in origin communities is poorly understood due to theoretical and methodological problems in prior work. To study remittances, researchers focus on migrants, effectively treating migrating and remitting as independent processes, and repo...

Formal remittance flows to Pakistan have shown noticeable growth over the past decade. Using bilateral remittance data for 23 major source countries, this study examines the external and internal factors driving these remittance flows during the period 2001-2011. We estimate a gravity model for bilateral remittance flows using a variety of panel data techniques suitable to control for unobserve...