Affiliation:
1. University of Ibadan, Nigeria
2. Federal University Oye-Ekiti, Nigeria
Abstract
This chapter examines the post-Cold War Uruguayan finance and economic development. It explores both the theoretical and empirical structure of the country concerning the socio-economic philosophy and economic performance. The study uses the data collected from the World Bank from 1981-2019. The results of the study show that a significant short-run relationship exists between the dependent and the independent variables with deviation in the long-run equilibrium being offset in the present at a 62.84% speed in the short-run. It is recommended that Uruguay continue to make the country competitive to attract FDIs and also provide regulations to the financial system, both the money and capital markets, to enhance its gross fixed capital formation for local investments and savings and strengthen the currency.