Dr. ISMAIL FASANYA

Dr. Ismail Fasanya is a Senior Lecturer in Economics at the School of Economics and Finance, University of the Witwatersrand, Johannesburg, South Africa. He is an alumnus of the African Economic Research Consortium (AERC), Nairobi, Kenya and a principal consultant at the African Review of Economics and Finance (AREF) Consult, Wits Business School, University of the Witwatersrand.

Ismail has won several research awards/scholarships/grants, including the Wits Business School postdoctoral fellowship award, African Economic Research Consortium (AERC) Doctoral Scholarship, AERC Thematic Area Research Grants, Department for International Development (DFID) Research Grant, Nigerian Economic Society (NES) Ph.D. Thesis Prize award, Federal Government of Nigeria Postgraduate Scholarship, Olabisi Onabanjo University (OOU) Governing Council Scholarship award, etc.

Dr Fasanya’s research interests lie at the intersection of macroeconomics and finance, with special interest in energy economics, financial spillovers and macroeconomic modelling and forecasting. Ismail has published extensively in energy economics and finance journals, including but not limited to Energy Policy, Energy, Resources Policy, Economic Systems, Economic Research, Energy Research Letters, OPEC Energy Review, Journal of Finance and Data Science, International Journal of Energy Economics and Policy, Journal of Information and Optimization Sciences, International Journal of Energy Sector Management, and International Journal of Economics and Financial Issues. He has also presented his research at leading energy and finance conferences around the globe, and currently has a number of high-quality research outputs on a range of topics under review in reputable economics and finance journals.

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B.Sc , M.Sc , PhD

• Adekoya O.B., Oliyide J.A., and Fasanya I.O. (2022). Renewable and non-renewable energy consumption–Ecological footprint nexus in net-oil exporting and net-oil importing countries: Policy implications for a sustainable environment, Renewable Energy, doi: https://doi.org/10.1016/ j.renene.2022.03.036  
• Fasanya, I.O., and Akinwale, O.A. (2022). Exchange Rate Shocks and Sectoral Stock Returns in Nigeria: Do Asymmetry and Structural Breaks Matter?, Cogent Economics & Finance, 10:1, 2045719, DOI: 10.1080/23322039.2022.2045719  
• Raheem, I.D., Fasanya, I.O., and Agboola, H. Y. (2022). Economic Policy Uncertainty and the Co-Movement between REITs and Exchange Rate. Review of Economic Analysis, Vol. 14, No.(1) DOI: https://doi.org/10.15353/rea.v13i3.3564 
• Fasanya, I.O., Oyewole, O.J., Adekoya, O. B. and Badaru, F.O. (2021). Oil price and stock market behaviour in GCC countries: Do asymmetries and structural breaks matter? Energy     Strategy          Reviews,          Elsevier,         Volume          36,       100682,  https://doi.org/10.1016/j.esr.2021.100682  
• Fasanya, I.O., Oliyide, O.J., Adekoya, O. B. and Agbatogun, T. (2021). How does economic policy uncertainty connect with the dynamic spillovers between precious metals and bitcoin markets? Resources Policy, Elsevier, Volume 72, 102077, https://doi.org/10.1016/j.resourpol.2021.102077
• Fasanya, I.O., Oyewole, O.J. and Raheem, I.D. (2021). Oil Prices and Exchange Rate Dynamics: How Important is the Role of Asymmetry and Structural Breaks. Journal of African Business, WILEY, https://doi.org/10.1080/15228916.2021.1909401

• Fasanya, I.O., Adekoya, O. B. and Adetokunbo, A.M. (2021). On the connection between oil and Global foreign exchange markets: The role of economic policy uncertainty. Resources Policy, Elsevier, Volume 72, 102110, https://doi.org/10.1016/j.resourpol.2021.102110
• Fasanya, I. O., Oyewole, O. J., & Oliyide, J. A. (2021). Can Uncertainty Due to Pandemic Predict Asia-Pacific Energy Stock Markets? Asian Economics Letters, 2(1).10.46557/001c.21223 
• Fasanya, I.O., Fajobi, O., & Adetokunbo, M.A. (2021). Are Fiscal Deficits Inflationary In Nigeria? New Evidence From Bounds Testing To Cointegration With StructuralBreaks. Economic           Annals,           Vol.     66(228),          pages 123-148. https://doi.org/10.2298/EKA2128123F  
• Fasanya, I.O., Oyewole, O., & Odei-Mensah, J. (2021). Infectious Diseases-Energy Futures Nexus: A Quantile-on-Quantile Approach. Energy RESEARCH LETTERS, 1(4). https://doi.org/10.46557/001c.18267
• Fasanya, I.O., Oyewole, O., Adekoya, O.B., & Odei-Mensah, J. (2020). Dynamic spillovers and connectedness between COVID-19 pandemic and global foreign exchange markets, Economic        Research-Ekonomska        Istraživanja,        Taylor        and        Francis        DOI: 10.1080/1331677X.2020.1860796  

• Fasanya, I.O., Awodimila, C. (2020). Are commodity prices good predictors of inflation? The African perspective. Resources Policy, Elsevier, Vol. 69, 1010802. https://doi.org/10.1016/j.resourpol.2020.101802

• Fasanya, I.O., Oyewole, O. and Odudu, T. (2020). Returns and volatility spillovers among cryptocurrency portfolios. International Journal of Managerial Finance, Emerald https://doi.org/10.1108/IJMF-02-2019-0074
• Fasanya, I.O. and Odudu, T.F. (2020). Modelling Returns and Volatility Spillovers among major Food Prices in Nigeria. Journal of Agriculture & Food Research, Elsevier https://doi.org/10.1016/j.jafr.2020.100029
• Fasanya, I.O. and Olayemi, I.A. (2020). Modelling Financial Openness– Growth Nexus in Nigeria: Evidence from Bounds Testing to Cointegration Approach. Future Business Journal, Springer, Vol. 6 (4), pp. 1-11 https://doi.org/10.1186/s43093-019-0008-2
• Fasanya, I.O. and Akinbowale, S.J. (2019). Modelling Returns and Volatility Spillovers of Crude Oil and Food Prices in Nigeria. Energy, Elsevier, Vol. 169, pp. 186-205 https://doi.org/10.1016/j.energy.2018.12.011
• Fasanya, I.O., Oyewole, O.J. and Agbatogun, T.O. (2019) Modelling Return and Volatility Spillovers among Sectoral Stocks in Nigeria. Zagreb International Review of Economics & Business, Croatia, Faculty of Economics and Business, University of Zagreb, Croatia. 22, No. 2, pp. 71-93 DOI: 10.2478/zireb-2019-0021

• Fasanya, I.O. and Akinde, M.A. (2019). Volatility Transmission in the Nigerian Financial Market. Journal of Finance and Data Science, Elsevier. Vol. 5 No. 2, pp. 99-115 https://doi.org/10.1016/ j.jfds.2019.01.003
• Fasanya, I.O., Odudu, T.F. and Adekoya, O. B. (2019). Oil and Agricultural commodity prices in Nigeria: New evidence from Asymmetry and Structural Breaks. International Journal of Energy Sector Management, Emerald. Vol. 13 No. 2, pp. 377- 401 https://doi.org/10.1108/IJESM-07-2018-0004
• Fasanya, I.O. and Olawepo, F. (2018). Determinants of Food Price Volatility in Nigeria. Agricultura Tropica et Subtropica, The Journal of Mendel University in Brno, Czech Republic. 51, Issue 4, pp.121–124 DOI: 10.1515/ats-2018-0013

• Fasanya, I.O., Adetokunbo, A. and Ajayi, F.O. (2018). Oil Revenue Shocks and the Current Account Balance Dynamics in Nigeria: New evidence from Asymmetry and Structural Breaks. SPOUDAI – Journal of Economics and Business, University of Piraeus, Greece, Vol. 68, Issue 4, pp. 72-87

• Fasanya, I.O. and Ogundare, A.E. (2018). Trivariate Analysis of Oil Revenue, Government Spending and Economic Growth in Nigeria. OPEC Energy Review, Wiley, Vol. 42 Issue 2, pp. 107-122 DOI: 10.1111/opec.12124

• Salisu, A.A., Oyewole, O.J., and Fasanya, I.O. (2018). Modelling Return and Volatility Spillovers in Global Foreign Exchange Markets. Journal of Information and Optimization Sciences,     Taylor     and     Francis,     Vol.     39     Issue     7,     pp.      1417-1448      DOI: 10.1080/02522667.2017.1367507

• Fasanya, I.O. and Olayemi, I.A. (2018). Balance of Payment Constrained Economic Growth in Nigeria: How useful is the Thirlwall’s Hypothesis? Future Business Journal, Elsevier, 4(1), 121-129 https://doi.org/10.1016/j.fbj.2018.03.004

• Akinbode, S.O., Fasanya, I.O. and Fatola, S.T. (2018). Modelling Stock Price Volatility of Agro-Allied Companies in Nigeria. Nigerian Journal of Security Market, Security Exchange Commission (SEC), Vol. 3 No. 1, 48-63

• Fasanya, I.O. and Adekoya, O., (2017). Modelling Inflation volatility with Structural Breaks in Nigeria. Central Bank of Nigeria Journal of Applied Statistics, Central Bank of Nigeria, Vol. 8 No. 1 (June), 175-193

• Aregbeyen, O.O. and Fasanya, I.O. (2017). Oil Price Volatility and Fiscal Behaviour of Government in Nigeria. Asian Journal of Economic Modelling, 5 (2), 118-134 https://doi.org/10.18488/journal.8/2017.5.2/8.2.118.134

• Fasanya, I.O., and Baruwa, S., (2015). Remittances Led Growth in West Africa Monetary Zone (WAMZ). Economics Bulletin, 35(4), 2374-2381

• Onakoya, A.B, Fasanya, I.O. and Ofoegbu, I.D. (2014). Corporate Governance as Correlate for Firms’ Performance: A Pooled OLS Investigation of Selected Nigerian Banks. IUP Journal of Corporate Governance, 13(1), 7- 18

• Aregbeyen, O.O. and Fasanya, I.O. (2014). Fiscal Response to Foreign Aid Inflows in Nigeria. IUP Journal of Applied Finance, 20(2), 37-56

• Fasanya, I.O., Onakoya, A.B, and Ofoegbu, I.D. (2013). Capital Market Development: A Spur to Economic Growth in Nigeria. Economica, Acta Danibus, Faculty of Economic Sciences, Danubius University, Romania, 9(5), 222-234

• Salisu, A.A. and Fasanya, I.O. (2013). Modelling Oil Price Volatility with Structural Breaks. Energy Policy, Elsevier, 52(C), 554-562 https://doi.org/10.1016/j.enpol.2012.10.003

• Fasanya, I.O., Onakoya, A.B, and Adabanija, M.A. (2013). Oil Discovery and Sectoral Performance in Nigeria: Application of the Dutch Disease. IUP Journal of Applied Economics, 12(2), 25-40

• Egbetunde, T. and Fasanya, I.O. (2013). Public Expenditure and Economic Growth in Nigeria: Evidence from Auto-Regressive Distributed Lag (ARDL) Specification. Zagreb International Review of Economics & Business, Croatia, Faculty of Economics and Business, University of Zagreb, Croatia,16(1), 79-92.

• Fasanya, I.O. and Onakoya, A.B. (2013). Oil Price Fluctuations and Output performance in Nigeria: A VAR Approach. The Romanian Economic Journal, Bucharest University of Economic Studies, Romania, 26(49), 47-72

• Onakoya, A.B, Fasanya, I.O. and Abdul-Kareem, H.D. (2013). Small and Medium Scale Enterprises Financing and Economic Growth in Nigeria. European Journal of Business and Management, New York, USA, 5(4), 130-136

• Fasanya, I.O., Onakoya, A.B, and Agboluaje, M.T. (2013). Does Monetary Policy Influence Economic Growth in Nigeria? Asian Economic and Financial Review, Asian Economic Society, Pakistan, 3(5), 635-646

• Muritala, T. A and Fasanya, I. O., (2013). Relationship between Sustainable Financial Services and Poverty Reduction in Nigeria. Evidence from Error Correction Model International        Letters             of         Social and      Humanistic     Sciences,          2(3),      39-48  https://doi.org/10.18052/www.scipress.com/ILSHS.2.39
• Fasanya, I.O. and Onakoya, A.B. (2013). Does Corporate Social Responsibility improve Financial Performance of Nigerian Firms? Empirical Evidence from Triangulation Analysis. Economica, Acta Danibus, Faculty of Economic Sciences, Danubius University, Romania, 9(3) 22-36  
• Aregbeyen, O.O. and Fasanya, I.O. (2013). Tax Revenue and Economic Growth: An Empirical Analysis for Nigeria. The Empirical Economics Letters, 12(5), 567-574

• Fasanya, I.O. (2012). Capital Flows-Growth Nexus in Nigeria: Has Foreign Direct Investment Played A Role in Accelerating Economic Growth? Journal of Sustainable Development in Africa, Clarion University of Pennsylvania, Clarion, Pennsylvania, USA, 14(8), 34-52

• Salisu, A.A. and Fasanya, I.O. (2012). Comparative Performance of Volatility Models for Oil Price. International Journal of Energy Economics and Policy, Econ Journal, 2(3), 167-183.

• Fasanya, I.O. and Onakoya, A.B. (2012). Informal Sector and Employment Generation in Nigeria: An Error Correction Model. Research on Humanities and Social Sciences, 2(7), 4855.

• Fasanya, I.O. and Onakoya, A.B. (2012). Does Foreign Aid Accelerate Economic Growth? An Empirical Analysis for Nigeria. International Journal of Economics and Financial Issues, 2(4), 423-431

• Onakoya, A.B, Fasanya, I.O. and Babalola, M.T. (2012). Trade Openness and Manufacturing Sector Growth: An Empirical Analysis for Nigeria. Mediterranean Journal of Social Sciences, UNIVERSITA DI ROMA, Rome, Italy, 3(11), 637-646 Doi:10.5901/mjss.2012.v3n11p637

• Fasanya, I.O. and Onakoya, A.B. (2012). Micro Credit as a Tool for Poverty Alleviation in Ogun State, Nigeria. Journal of Sustainable Development in Africa, Clarion University of Pennsylvania, Clarion, Pennsylvania, USA,14(8), 1-14

• Onakoya, A.B, Ofoegbu, I.D. and Fasanya, I.O. (2012). Corporate Governance and Bank Performance: A Pooled Study of Selected Banks in Nigeria. European Scientific Journal, 8(28), 155-164