Determinants Of The Exchange Rate In Nigeria
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Determinants Of Inflation Exchange Rate And Output In Nigeria
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Author : Louis Kuijs
language : en
Publisher: International Monetary Fund
Release Date : 1998-11-01
Determinants Of Inflation Exchange Rate And Output In Nigeria written by Louis Kuijs and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-11-01 with Business & Economics categories.
This paper presents a macroeconomic model of the Nigerian economy. The long-run relationships pertaining to the markets for money, foreign exchange, and (non-oil) output are estimated. Subsequently, dynamic equations are estimated for the price level, the real exchange rate, and output. The results are instrumental in explaining the dramatic developments on the foreign exchange market during 1983-86 and 1992-94, the secular depreciation of the real exchange rate since 1985, and the rise and fall of inflation during 1991-97. The methodology could usefully be applied to other economies whose exports are insensitive to exchange rate movements (e.g., other oil-based economies).
Determinants Of The Exchange Rate In Nigeria
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Author : Charles Ogboi
language : en
Publisher:
Release Date : 2023
Determinants Of The Exchange Rate In Nigeria written by Charles Ogboi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.
This study investigated the determinants of the exchange rate in Nigeria via evidence from the Error Correction Model (ECM) over the period 1981 to 2020. The study focuses on two main objectives. The theoretical review highlights three main exchange rate determination approaches: The Purchasing Power Parity (PPP), the Monetary Methodology, and the Traditional Flow Model. The research methodology employs cointegration and error-correction methods to estimate the model using yearly data for the specified time frame. The econometric analysis comprises three stages, including unit root tests to ascertain stationarity, cointegration tests to identify long-term equilibrium relationships, and the ECM to represent short-term and long-term dynamics. The empirical results reveal the presence of significant determinants influencing the exchange rate in Nigeria. These determinants include economic openness, real output capacity, net capital flows, money supply growth, government expenditure, real interest rate, and inflation rate. The ECM model analysis indicates both short-term and long-term relationships between these determinants and the exchange rate. The study contributes to a deeper understanding of Nigeria's exchange rate dynamics and provides valuable guidance for policymakers in formulating effective monetary and fiscal policies to manage exchange rate fluctuations and foster economic development.
Determinants Of Foreign Exchange Rate In Nigeria
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Author : Emmanuel Oke
language : en
Publisher: LAP Lambert Academic Publishing
Release Date : 2010-10
Determinants Of Foreign Exchange Rate In Nigeria written by Emmanuel Oke and has been published by LAP Lambert Academic Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-10 with categories.
The long run impact of oil prices on Nigeria s exchange rates are the subject of this study. Nigeria abandoned a fixed exchange rate regime in favour of floating exchange in 1986. This step was taking in order to address Nigeria economic mal-functioning. Nigeria is an open monoculture economy that is over- dependent on crude oil.In this research paper, our objective is the long run relationship between oil prices and exchange rates since the introduction of the floating exchange regime in Nigeria. Our major aim is to find out whether oil prices and exchange rates co-integrate or not. The period of this research covers post fixed exchange regime in Nigeria, 1986 until 2008 (quarterly). We are using Engel-Granger co-integrating regression test, our data showed the presence of unit root; we found that, exchange rates and oil prices do not have long run relationships but short term relationships. This makes us to conclude that, there may be other economic and non-economic factors influencing exchange rates in Nigeria.
Determinants Of Inflation Exchange Rates And Output In Nigeria
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Author : Louis Kuijs
language : en
Publisher:
Release Date : 1998
Determinants Of Inflation Exchange Rates And Output In Nigeria written by Louis Kuijs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998 with categories.
Determinants Of Imports In Nigeria
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Author : Festus O. Egwaikhide
language : en
Publisher:
Release Date : 1999
Determinants Of Imports In Nigeria written by Festus O. Egwaikhide and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999 with Business & Economics categories.
Nigeria S Exchange Rate Policy And Management
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Author : Michael I. Obadan
language : en
Publisher:
Release Date : 1993
Nigeria S Exchange Rate Policy And Management written by Michael I. Obadan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Foreign exchange administration categories.
Determinants Of Interest Rates In Nigeria
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Author : Louis N. Chete
language : en
Publisher:
Release Date : 2006
Determinants Of Interest Rates In Nigeria written by Louis N. Chete and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with Interest rates categories.
Dynamics Of Trade And Exchange Rate Policies Macroeconomic Adjustment And Economic Performance
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Author : A. O. Adewuyi
language : en
Publisher:
Release Date : 2003
Dynamics Of Trade And Exchange Rate Policies Macroeconomic Adjustment And Economic Performance written by A. O. Adewuyi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Economic stabilization categories.
Capital Inflows And Exchange Rates In Nigeria
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Author : Friday Anetor
language : en
Publisher:
Release Date : 2016
Capital Inflows And Exchange Rates In Nigeria written by Friday Anetor and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.
The study examines the relationship between capital inflows and exchange rate for the Nigerian economy between the periods of 1986-2014. A monetary policy indicator such as M2GDP is also introduced in the model. Estimated results show that capital inflows granger cause exchange rate suggesting that capital flows into Nigeria play a significant role in determining real exchange rate. Also, the Granger-causality outcomes have also shown that capital inflows play significant role in determining the extent of financial deepening in the country. Using the vector autoregressive (VAR) approach, findings from the impulse response functions (IRFs) show that capital inflows respond negatively to a shock in real exchange rate. The IRF also reveals that real exchange rate responds positively to an innovation in capital inflows suggesting that when exchange rate rises, the rate of capital inflows to Nigeria also increases. In addition, the outcome from the IRF reveals that capital inflows respond positively to an innovation in M2GDP and also M2GDP responds positively to capital inflows suggesting that the more the financial deepening, the higher the rate of capital inflows. The variance decomposition shows that the determinants of capital inflows in descending order of importance include real exchange rate followed by M2GDP. Also, the variance decomposition reveals that the determinant of real exchange rate in descending order of importance is capital inflows, followed by M2GDP. The study suggests that for Nigeria to experience an improvement in the value of its currency as well as the extent of its financial deepening, conscious efforts should be made to woo capital inflows and one of the ways of attracting foreign capital is to create a favourable economic and social environment.
Long Run Impact Of Exchange Rate On Nigeria S Industrial Output
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Author : Ebele Nwokoye
language : en
Publisher:
Release Date : 2019
Long Run Impact Of Exchange Rate On Nigeria S Industrial Output written by Ebele Nwokoye and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.
While many scholars have carried out a lot of research on the impact of exchange rate volatility and price shocks on economic growth, this study departs from previous studies and seeks to provide suggestions for Nigerian policy makers on the attainment of an ideal exchange rate necessary to boost industrialization and industrial output. The economies of all the countries of the world are linked directly or indirectly through asset and goods markets. This linkage is made possible through trade and foreign exchange. The price of foreign currencies in terms of a local currency (i.e. foreign exchange) is therefore important to the understanding of the growth trajectory of all countries of the world. The consequences of substantial misalignments of exchange rates can lead to output contraction and extensive economic hardship. These therefore, bring up the issue of an ideal exchange rate necessary for the achievement of a set of diverse objectives - economic growth, containment of inflation and maintenance of external competiveness. This study employed the use of the ordinary least square technique to examine the impact of exchange rate stability on industry output in Nigeria using annual time series data from 1980 to 2013. The result of the study showed that domestic capital, foreign direct investment, population growth rate, and real exchange rate were significant determinants of industrial output. The changes in external balance and inflation were of little or no consequences to industrial output. Based on the findings, the researcher recommended that conscious efforts should be made by government to fine-tune the various macroeconomic variables in order to provide an enabling environment that stimulates industrial output and eventual economic growth.