Study on Financial Crises in an African Open Economy

From 1960 to 2014, this research looked into the causes of financial crises in Nigeria. The study’s scope included two distinct periods of the country’s financial crisis. The scale of the crises faced over various periods could have been influenced by both the country’s policy and economic settings. An analytical method rooted in associated investigations defined the empirical model. To rule out the possibility of erroneous statistical results, preliminary analyses were performed on the data. A regression model was used to estimate both endogenous and exogenous components. The signals and importance of the bulk of endogenous components were remarkably consistent. In the country’s business cycles, the impact of most exogenous sources and closely connected domestic activities found parallels. Greater care in policy formulation and a decreased proclivity to borrow externally could help minimise the system’s growth drivers’ negative impacts.

Author (s) Details

Oluremi Ogun
University of Ibadan, Nigeria.

Olutomilola Makinde
University of Ibadan, Nigeria.

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