There is no scarcity of empirical studies into the causes of capital flight or the associated attempt to relate the phenomenon to economic growth and other macroeconomic stability indicators. Studies that undertook that include Onwuoduokit, (2002), Ajayi (1992, 2002) Pastor (1990), among others. The emerging list of causal variables is equally diverse ranging from balance of payments disequilib...

This paper investigates the relationship between short-term and long-term in‡ation expectations using daily data on in‡ation compensation. We use a ‡exible econometric model which allows us to uncover this relationship in a data-based manner. We relate our …ndings to the issue of whether in‡ation expectations are anchored, unmoored or contained. Our empirical results indicate no support for eit...

The historic terrain of macro-economic theory is the explanation of the levels and fluctuations of overall economic activity. Macro-economists have been especially interested in the effects of alternative fiscal, financial, and monetary policies. With the publication of J. M. Keynes’s General Theory in 1936 and the mathematical formalizations of his theory by J. R. Hicks (1937) and others, the ...

Purpose – This paper aims to investigate the effect of two external factors – the “generalized” competition an organization faces, and the strategy it follows in response to its external environment – on the business value generated by its ICT investment. Design/methodology/approach – For achieving these research objectives econometric models of output are constructed, using firm-level data fro...

Macroeconomic forecasts are often based on the interaction between econometric models and experts. A forecast that is based only on an econometric model is replicable and may be unbiased, whereas a forecast that is not based only on an econometric model, but also incorporates an expert's touch, is non-replicable and is typically biased. In this paper we propose a methodology to analyze the qual...

A bank′s capital charge computation is a widely discussed topic with new approaches emerging continuously. Each bank is computing this figure using internal methodologies in order to reflect its capital adequacy; however, a more homogeneous model is recommended by the Basel committee to enable judging the situation of these financial institutions and comparing different banks among each other. ...