Journal of International Economics and Finance

This research delves into the patterns of capital flight in emerging nations by examining how instability and political uncertainties as well as financial crises influence short-term capital outflows in these regions. Challenges such as income levels and restricted investments coupled with increasing foreign debts exacerbate the difficulties experienced by these countries. The study employs statistical approaches to shed light on occurrences such as the 2008 global economic downturn and the recent COVID-9 pandemic, which instigated instances of capital flight. The data shows that there is a distribution to the right with a standard deviation and significant variations in capital flows due to extreme values present in the data set. The research highlights the role of monetary policies in controlling capital outflows and maintaining financial stability. The results stress the necessity for developing countries to address weaknesses in order to reduce capital flight and bolster their infrastructure.

Keywords: Capital Flight, Residual Model, Developing Countries

This study investigates the influence of Environmental, Social, and Governance (ESG) performance on Return on Equity (ROE) among companies listed on the Nigerian Stock Exchange (NSE), focusing specifically on the oil and gas sector. Utilizing panel regression analysis, the research evaluates how variations in ESG metrics impact financial performance. Data were collected from the annual financial reports of 8 major companies in the oil and gas sector over the period 2018 to 2023. The study finds that improved environmental performance, strong social responsibility, and effective governance practices are positively associated with higher ROE, highlighting the significant role of ESG factors in enhancing corporate profitability. However, firm size and leverage do not exhibit a statistically significant effect on ROE. The model explains approximately 46.2% of the variation in ROE, demonstrating a strong overall fit. Limitations include potential data incompleteness and sector-specific biases. The findings suggest that companies should prioritize ESG performance to achieve better financial results and that investors should incorporate ESG metrics into their investment decisions. Recommendations for policy enhancement and further research are also provided to support the ongoing integration of ESG considerations into financial analysis.

The study examined effect of domestic investment on economic growth in Nigeria. The study covered the period of 41 years spanning from 1981 to 2021. Data were extracted from the Central Bank statistical bulletin and World Bank Data Indicator. The estimation techniques used were Autoregressive distributed lag (ARDL) and VAR. It was found that government domestic investment has negative but significant effect on economic growth in Nigeria in the long run. However, the government domestic investment has mixed effect on economic growth in Nigeria in the short run. Furthermore, the study found that there is no causal relationship between the private domestic investment and economic growth. However, it was found that a shock in the private domestic investment will lead to negative response of economic growth. Thus, the study concluded that effective planning, policies and monitoring machinery should be put in place to monitor government investment in order to steer the economy towards prosperity. In addition, the study concluded that monetary authority should control the supply of money to reduce the higher interest rate and inflationary pressure which affect private domestic investment and hinder economic growth. Thus, it was recommended that government investment should be concentrated on highly productive and potential project which may have lasting positive impact on the economy. More so, the regulatory authority should promote favourable business environment that will reduce inflation pressure and interest rate in order facilitate access to credit by private sector.

Keywords: Domestic investment, Private domestic investment, Government domestic investment, economic growth

The objective of this study is to evaluate the effects of Central Bank of Nigeria monetary policies on economic development of Nigeria. Data were collected using adapted instrument (questionnaire) on past research related to CBN monetary policies on economic development. Furthermore, sample size for this study was 53 employee of CBN with the population of 148 covering both junior and senior staff. Hypotheses formulated for this study were in null form and tested using ordinary least square method of analysis. The tested hypothesis for relationship between interest rate and economic development in Nigeria showed significant effect on the economic development. While tested hypothesis for relationship between exchange rate and economic development in Nigeria indicated significant effect on the economic development. It was concluded that the CBN as a Federal Government financial institution could use these monetary instruments among other instruments to achieve economic development for the country. This would encourage inflow of Foreign Direct Investments (FDI) and employment generation in Nigeria. The study recommended that for the Federal Government of Nigeria to attain its desire objectives of economic development, it has to rely on the CBN to pursue its economic policies through the instrumentality of the CBN to achieve its objectives. This will transform her economy, make her strong and competitive among other economies of the World.

Keywords: Effects, CBN, Monetary policies, Economic development, Nigeria sector and West Africa.

From 2011 to 2021, the study examines the effects of macroeconomic and bank-specific factors on the profitability of Ghana’s listed banks. The study looked at how banks’ profitability factors affected their performance metrics, return on equity (ROE) and return on assets (ROA), using a panel data regression model. The results show that bank performance is significantly impacted by both internal and external economic factors. This gives regulators, investors and bank managers important information to use when making decisions to improve financial stability in Ghana’s banking industry. The study also demonstrates the crucial relationship between macroeconomic variables and bank profitability metrics, providing empirical support for strategies aimed at creating a stable and lucrative banking environment in Ghana.

Keywords: Banks profitability, macroeconomic indicators, banks specific indicators, commercial banks, Ghana.