Publications

July 26, 2016

Extra-ECOWAS Trade And Investment Flows: Any Evidence Of Business Cycles Transmission

This
study investigates the effects of merchandise trade and investment flows on the
transmission of business cycles between members of ECOWAS and the major trading
partnersbetween 1985 and 2014. Total trade and FDI significantly influence the
transmission of business cycles with elasticities of 1.1% and 0.7%,
respectively in the long run. There are little variations across the major
trading partners and other measures of trade flows. Intra-industry trade flows
with all partners, EU and USA influences the cross-country business cycles with
elasticities of 1.0%, 0.5% and 1.8%, respectively. 

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Testing The Impact Of Foreign Aid And Aid Uncertainty On Private Investment In West Africa

The paper examines the impact of foreign aid on private investment in West Africa and whether multilateral and bilateral aid affects private investment differently.

Nigeria Economic Update (Issue 27)

The Naira strengthened against the dollar in the review week. Specifically, the Naira appreciated by 2.7 percent to N355/$ (parallel market rate) on June 17, 2016, following the release of the flexible FOREX policy guidelines by the CBN on June 15, 2016. The new policy effectively adopts a single market structure hosted at the autonomous/inter-bank market. The inter-bank trading scheduled to commence on June 20, 2016 will be market-determined, officially eliminating the N197/$ peg. To ensure foreign exchange liquidity, primary market dealers have been introduced while the CBN will participate in the market through periodic interventions.

Nigeria Economic Update (Issue 4)

Recently released labour force report by the NBS shows a quarter-over-quarter increase in Nigerias working age and labour force population. Working population rose from 110.29 million in 2017Q2, to 111.13 million persons in 2017Q32. The working age population in 2017Q3 constituted 85.08 million persons in the labour force (an increase from 83.94 million), of which 40 percent were either unemployed or underemployed.  Thus, total employed persons in the quarter reached 69.1 million.