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    Article

    Article ID: 1133

    Globalization and capital formation in Nigeria

    by Benedict Ikemefuna Uzoechina, Precious Chidinma Okafor, Ngozi Florence Ezenwobi, Geraldine Amaka Ekwoh, Chika Maureen Okaforocha, Ndubisi John Edeh

    Forum for Economic and Financial Studies, Vol.2, No.2, 2024; 140 Views, 67 PDF Downloads

    No country can achieve sustained economic growth without substantial investments in capital formation. Nigeria is rich in natural resources but due to inadequate capital and technology, these resources have not been fully tapped and maximized. This study seeks to provide another gate way to unlocking the dearth of capital formation for development by specifically investigating the impact of financial and trade globalization on capital formation in Nigeria within the period 1990–2022. Autoregressive distributed lag (ARDL) technique was adopted for data analysis. The findings of this study indicate that while trade globalization has negative effect on capital formation in both the long run and short run respectively, financial globalization exerts negative effect on capital formation in the long run but a positive effect in the short run. Nevertheless, Financial and trade globalization exert detrimental effect on capital formation in the long run. A major policy recommendation is that Nigeria should play a key role in the African Continental Free Trade Area in order to boost her trade and financial competitiveness within Africa and so be able to lunch herself into the global space, and thus tap the potential benefits of trade and financial globalization.

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  • Open Access

    Article

    Article ID: 399

    The banking system of Ukraine as a factor of social stability in the war

    by Anatolii Oleksandrovych Drobiazko

    Forum for Economic and Financial Studies, Vol.2, No.2, 2024; 78 Views, 31 PDF Downloads

    Before the collapse of the USSR, Ukraine was one of the 15 socialist republics. Along with Belarus, the Russian Federation, and the USSR, Ukraine is one of the founders of the United Nations. Ukraine has gone through transformations from a command-administrative to a market system in 30 years. The driving force behind this development was the national democratic forces, the leaders of which were former dissidents of the USSR. One of the main factors of market transformations in Ukraine is the national private banking business. In the conditions of Russia’s direct military aggression against Ukraine in 2022, the banking business of Ukraine has shown its institutional capacity and is one of the stabilizing factors of society. Thanks to the integration of Ukraine’s banking business into the global financial system, millions of Ukrainian refugees have the opportunity to use their accumulated funds in the national currency abroad. The purpose of this article is to analyze the impact of the banking sector of Ukraine on the country’s democratic development, and the contribution of the banking system to countering Russian aggression. The article considers further ways of development of the banking system of Ukraine in the post-war period.

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