December 2011
Mixed exchange rate regime in the West African Economic and Monetary Union (WAEMU)
The debate on the issue of choosing the best exchange rate regime is still valid. Indeed, each exchange rate regime has both costs and benefits. For WAEMU countries, the current choice is less and less justified mainly because of globalization. Therefore, the objective of this study is to propose a mixed exchange rate regime pegged to the euro and U.S. dollar. The study shows that this type of plan allows...
December 2011
An econometric analysis of money demand function in Sudan, 1960 to 2010
This study is an attempt to test the existence of a stable money demand function in Sudan during the period, 1960 to 2010. The money demand function includes real money balances, real GDP (as scale variable), the rate of inflation and exchange rate (as opportunity cost of holding money balances variables). The study applies cointegration and error correction models to examine the behavior of money demand...
December 2011
Effectiveness of foreign aid in sub-Saharan Africa: Does disaggregating aid into bilateral and multilateral components make a difference?
Inspired by the contradicting findings of studies on aid effectiveness and the recently emerging dissatisfaction of scholars with the methodologies of earlier works, this study took up the examination of the effectiveness of bilateral and multilateral aids on economic growth. To this end, the study applied the estimation technique of system-GMM (system - generalized method of moments) to panel data of 42...
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