FOREIGN RESERVE ACCUMULATION AND MACRO ECONOMIC VARIABLES OF SUB-SAHARAN AFRICAN COUNTRIES
Journal Title: Gusau Journal of Accounting and Finance - Year 2021, Vol 2, Issue 3
Abstract
This study investigates the effect of foreign exchange reserves accumulation on economic stability proxied by inflation, unemployment, exports and GDP for a sample of 49 Sub-Saharan African countries for the periods 2009- 2018 using panel (longitudinal) fixed model. Findings from this study reveal that foreign exchange reserves have a significant negative effect on unemployment and inflation; however, it shows a significant positive effect on export and gross domestic product (GDP. To improve the overall economy of the listed sub-Saharan countries, the paper therefore recommends sub-Saharan African countries to adopt a mixture of investment friendly and direct unemployment reduction polices by reinvesting investible surplus into inflationary controllable and productivity boosting policies that will stimulate economic prowess rather than keeping this huge amount of resources redundant.
Authors and Affiliations
Aminu Abdullahi, Aduma Oko Aduma, Mutairu Shaka Eromise
Keywords
Related Articles
- EP ID EP709149
- DOI -
- Views 30
- Downloads 0
INCREMENTAL VALUE RELEVANCE OF IAS 41 IMPLEMENTATION AMONG OF LISTED AGRICULTURAL FIRMS IN NIGERIA
There has been a concern over absence of empirical works on value relevance of adoption of international accounting standard on agriculture. This paper examines the incremental value relevance of IAS 41 adoption on the...
WORKING CAPITAL MANAGEMENT AND PROFITABILITY OF LISTED HEALTHCARE FIRMS IN NIGERIA
This work examined the consequence of operational capital management on corporate performance in Nigerian listed manufacturing firms. Selected companies’ data were extracted for a period of seven years (2013-2019). Corr...
DO FINANCIAL AUDITORS’ INDEPENDENCE INFLUENCE THE PORTFOLIO PERFORMANCE OF DEPOSIT MONEY BANKS IN NIGERIA?
The study examines the impact of financial auditors’ independence on the portfolio performance of Deposit Money Banks (DMBs) in Nigeria. The study uses financial audit fees, financial auditor’s rotation and financial au...
INTERNAL CONTROL SYSTEM EFFECTIVENESS AND FRAUD PREVENTION INNIGERIAN DEPOSIT MONEY BANKS
Over the years, there has been an emphasis not only on the presence of internal control system in the banking sector but also the efficiency of internal control. There is possibility for internal control unit to be prese...
OWNERSHIP STRUCTURE AND FINANCIAL PERFORMANCE ON LISTED MANUFACTURING FIRMS IN NIGERIA
This study looked at the ownership structure and financial performance of listed manufacturing companies in Nigeria. The Return on Asset was used as a proxy for the effect of the variables of the ownership structure on...