Perekunah Eregha

This study examines the effect of global factors on domestic monetary policy reaction functions of five West African Monetary Zone (WAMZ) countries for the period 1980–2015. The generalized method of moment approach was used for the estimation on the policy reaction function. The study provides strong evidence that global inflation and output gap influenced monetary policy decisions of Central Bankers in the countries of WAMZ. Therefore, it is recommended that global variables should not be ignored and be given appropriate weight while forecasting domestic inflation and making monetary policy rules.

Дата выхода: март 2018

This study focuses on the relationship between energy consumption, oil price and macroeconomic performance of selected energy-dependent African countries. It was observed that energy consumption and crude oil price positively and significantly enhanced output growth but their impact on exchange rate is contradictory. Also, energy consumption and oil price were found to reduce inflation rate in the selected countries. It is therefore recommended that energy-dependent African countries should increase power generation and enhance crude oil local refining at affordable rates to boost energy consumption and reduce negative exogenous oil price shock on the macroeconomy.

Дата выхода: июль 2017