Central Bank of Nigeria, Research Department.
Fiscal deficits, Interest rates, Small semi-open economies
In this paper, the model for the determination of interest rates, which is applicable to small semi-open economies, is presented. The model is tested by using the pooled cross-section and time series quarterly data of 1987:3-1995:4 for three Anglophone West African countries-Nigeria, Ghana and The Gambia.
Anyanwu, John C. (1998). Do large fiscal deficits produce high interest rates?: the case of Nigeria, Ghana and the Gambia, 1987:3 - 1995:4. Economic and Financial Review, 36 (1), 51 - 84.