This paper investigates the asymmetric effect of exchange rate changes on cross-border trade in Nigeria. The investigation becomes necessary because several studies have reported insignificant results in attempting to establish a link between these two variables using symmetric specification. Whereas, there are strong evidence of nonlinear mean-reverting association because some exchange rate changes of the same magnitude exhibit different effects on other variables of interest. Having separated the real effective exchange rate into both depreciation and appreciation regimes using the partial sum processes based on logistic smooth-transition and exponential smooth-transition, results from the nonlinear autoregressive distributed lags show that exchange rate appreciation had a statistically significant negative relationship with cross-border trade in Nigeria. The study concludes that the relationship between real effective exchange rate and cross-border trade is asymmetric. (Depreciation and appreciation of equal magnitude do not have the same effect on cross-border trade in Nigeria.) The study recommends that policy makers should consider models that allow a nonlinear adjustment of exchange rates which may produce outcomes supporting an effective devaluation or appreciation policy, at least against some trading partners.

The study uses a parametric measure to discover the trend and possible causes of exchange rate volatility in Nigeria over the period 1986: 1-- 2009: 4. The study revealed that exchange rate has been volatile in Nigeria given the fact that the standard deviation of exchange rate has been unusually high and unusually low during the period under investigation. The parametric measure of exchange rate further confirmed a high degree of volatility which portrays higher risk to a risk-averse economic agent. The study therefore recommends that the government should always take a cognizance look at the frequent movement in the exchange rate with a view to regulating it because higher risks attached to high degree of volatility may scare off both domestic and foreign investors.

PurposeAfrican countries are endowed with both human and natural resources. These resources constitute integral components for any economic development due to the long-lasting relationship with all sectors in an economy, yet there is an obvious disagreement between growing economy and employment generation in Africa. Though there has been a growing pattern of economic size, particularly the gross domestic product (GDP) among African countries, most of these economies are low in human development. The disagreement between economic growth and employment generation in Africa despite abundant natural resources located on the continent calls for public discourse among scholars. Therefore, the purpose of the study is to examine the peculiar drivers of unemployment intensity in a region characterized by endowed resources.Design/methodology/approachThe paper adopts two approaches; the authors employed the pooled mean group (PMG) estimator and utilised stochastic frontier analysis (SFA) to generate a government efficiency index between the period 1991 and 2017 among sub-Saharan Africa (SSA) countries.FindingsThe empirical results through the single output-multiple inputs framework indicate that on average, there is a low level of government efficiency towards increasing the objective of human development in Africa. However, in the long run, natural resource endowment has a positive and significant relationship with employment generation for SSA. Hence, the study established that a low level of government efficiency has a long-lasting effect on low human development experienced in Africa.Social implicationsThe need to improve the level of government efficiency towards economic development by making both human and physical capital more effective will spur the exploration of natural resources.Originality/valueThe paper provides an empirical study of the effectiveness and efficiency of government through PMG and SFA in establishing the relationship between government approaches and employment level in selected SSA countries.

The study looks at the impact of deregulation of the economy on Nigerian commercial banks; A case study of some selected commercial banks in Ilesa, Osun State. The economy policies pursued prior to 1985 made the Nigeria economy price distortions created by a highly over-valued currency and inappropriate pricing of agricultural and other local products. The control measure introduced prior to deregulation of the economy were unable to improve the economy positively. Instead, that period was characterized by short-supply of industrial inputs, plant closure, large retrenchment of workers, and shortage of goods and price inflation coupled with unfavourable balance of payment. Data were gathered from some selected commercial banks in Ilesa, Osun State Nigeria through issuing of questionnaires and from some secondary sources such as CBN statistical bulletin, Publications and other relevant materials. The major deregulation policies were deregulation of interest rates structure, introduction of second tier foreign exchange market. Since the Federal Government is contemplating deregulation as the only paramount solution to distorted economic structure. The study therefore recommends that banking industry [commercial banks] needs to reposition itself to take full advantage of the gains which might arise from such deregulation. Commercial banks should equally anticipate and sensitize themselves with the challenges of a deregulated economy.