Currency portfolio optimization with an innovative covariance matrix estimator (QMLE)
Article in Press
With the advent of high frequency data, the sum of squared returns between trades which is the most common estimator, is biased by microstructure effects like bid-ask bounce thus the need to drop most of the data. Nonetheless, a number of alternative estimators that make efficient use of the available data have been developed. However, choosing an estimator is not trivial since the study of their relative merits focuses on...
THE SHORT AND LONGRUN PHILIPS CURVES: WHAT IS KENYA’S NON-ACCELARATION RATE OF UNEMPLOYMENT?
Article in Press
This study estimated the short and longrun Phillips curves for Kenya. The non- accelerating inflation rate of unemployment (NAIRU) was also estimated and the Lucas critique tested to prove whether it is evident in Kenyan data. This study was necessary since the Kenyan rates of inflation and unemployment were both simultaneously high contrary to what Phillips curve theory explains. Using secondary data covering 1977 to...
Article in Press
The paper investigates on the lingering issue of monetary policy transmission from the perspective of Nigeria from 1980 to 2016. Applying a two way techniques of Vector Autoregression and Autoregressive Distributed Lag, we found that jointly considered, monetary policy does not have any long run relationship with economic activity, credit transmission channel is ineffectual in monetary policy transmission in Nigeria, and...
Financial development and economic growth: A Vector Autoregression Approach
Article in Press
The paper models banking sector liberalisation variables between financial liberalisation and economic growth in Nigeria for the period of 1981 to 2012, based on time series econometrics using granger causality through Vector AutoRegression method. It examines the extent of banking sector liberalisation on growth of the economy using growth in credit to private sector to GDP, growth in demand deposit to narrow money,...
THE RELATIONSHIP BETWEEN EXTERNAL DEBT AND ECONOMIC GROWTH IN NIGERIA
Article in Press
Every cake has its deforming tendencies and the handling of such matters in maximizing utility. This paper examined the relationship between external debt and economic growth in Nigeria from the period of 1981-2013. The study used both descriptive and econometric tools. The analysis of unit root was performed on each of the variables incorporated in the model specified and the result showed that, all the variables were...
CONTIBUTION OF SMALL AND MEDIUM ENTERPRISES ON WELLBEING CONDITIONS OF HOUSEHOLDS IN RWANDA
Article in Press
Urwibutso enterprise has been taken as a pilot of a study on analysis of the contribution of small and medium enterprise on wellbeing conditions of households in Rwanda. The study covered a period of 2012 to 2015. This paper aims at answering the question on how small and medium enterprise contribute on wellbeing conditions of households. Methods of data collection included questionnaires and interview on 91 personal of...
Article in Press
The main purpose of this paper is to investigate the bank specific factors which can affect the financial performance of private commercial banks in Ethiopia. A total of 6 private commercial banks (those having full organized financial data till 2017) were purposefully taken & their audited annual financial reports were analyzed for the period of 2011 to 2017. For this purpose, descriptive statistic, Pearson Correlation...
Article in Press
The validity of the Ricardian equivalence proposition remains disputed in spite of the numerous empirical work done on it. This study utilised panel ARDL estimation approach to investigate the evidence of Ricardian Equivalence Hypothesis in five Sub-Sahara African countries, namely Botswana, Ghana, Gambia, Nigeria, and Kenya over the period 1981-2014. From the long-run results obtained from the Pooled Mean Group...
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