This paper examines the impact of the global financial crisis on the Nigerian financial system. The paper documents extensive evidence to show that the immediate past governor of Central Bank of Nigeria was puerile in preventing the global financial crisis from having adverse effect on the Nigerian economy. As a result, the Nigerian capital market was seriously hit by the crisis. The prices of ...

The food regime concept is a key to unlock not only structured moments and transitions in the history of capitalist food relations, but also the history of capitalism itself. It is not about food per se, but about the relations within which food is produced, and through which capitalism is produced and reproduced. It provides, then, a fruitful perspective on the so-called ‘world food crisis’ of...

This paper investigates whether leaving school in a bad economy deteriorates health in the long run. It focuses on low-educated individuals in England and Wales who entered the labour market immediately after the 1973 oil crisis. Our identification strategy relies on the comparison of individuals who left school at the compulsory age, were born in the same year and had a similar quantity of edu...

Prof. Fritz W. Scharpf is Director at the Max Planck Institute for the Study of Societies, Cologne Abstract The paper represents a preliminary and partial analysis of the information collected in a comparative 12-country study of the adjustment of national employment and social-welfare policies to the increasing internationalization of product and capital markets. After the postwar decades, whe...

Using DCC-GARCH and EGARCH model, this paper finds that since 1990, the relationship between crude oil prices and the US dollar index is time-varying, demonstrating a process of “very weak correlation—negative correlation—enhanced negative correlation—weakening negative correlation”, but the existing research does not provide enough reasonable explanation. Therefore, this paper proposed a “key ...

T he effects of the crises of 1997–99, from East Asia to Russia and Brazil, persist in many aspects. In most developing countries growth remains weak and well below precrisis trends. Social dislocations are severe, and have increased not only in Asia but also in other affected countries. Progress in poverty reduction has stalled in the developing world at the end of the 1990s, and the number of...

Utilising a time-varying GAR (1)-TGARCH (1,1) model with different frequency data, we investigate the weak-form efficiency of major global crude oil spot markets in Europe, the US, the UAE and China for the period from December 2001 to August 2013. Our empirical results with weekly data indicate that all four markets have reached efficiency with few brief inefficient periods during the past dec...

It is generally known that without oil and gas, no economic system can function these energy sources are considered the "bloodstream" of any economy, whether it a developed developing or an underdeveloped economy. Oil reserves follow gas reserves, distribution in world not uniform. On one hand, we have countries with surplus sources, so they also exporters on other deficit do them, to import th...