Long Run Impact Of Exchange Rate On Nigerias Industrial Output

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Long Run Impact of Exchange Rate on Nigeria's Industrial Output

Author : Ebele Nwokoye
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Long Run Impact of Exchange Rate on Nigeria's Industrial Output by : Ebele Nwokoye

Download or read book Long Run Impact of Exchange Rate on Nigeria's Industrial Output written by Ebele Nwokoye and published by . This book was released on 2019 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Exchange Rate Fluctuations, Interest Rate Instability and Manufacturing Sector Output in Nigeria (1986 – 2017)

Author : Daniel Chibueze Onyejiuwa
Publisher : GRIN Verlag
ISBN 13 : 3346253260
Total Pages : 274 pages
Book Rating : 4.3/5 (462 download)

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Book Synopsis Exchange Rate Fluctuations, Interest Rate Instability and Manufacturing Sector Output in Nigeria (1986 – 2017) by : Daniel Chibueze Onyejiuwa

Download or read book Exchange Rate Fluctuations, Interest Rate Instability and Manufacturing Sector Output in Nigeria (1986 – 2017) written by Daniel Chibueze Onyejiuwa and published by GRIN Verlag. This book was released on 2020-09-23 with total page 274 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doktorarbeit / Dissertation aus dem Jahr 2019 im Fachbereich VWL - Außenhandelstheorie, Außenhandelspolitik, Obafemi Awolowo University, Sprache: Deutsch, Abstract: The study appraises different interest rate policies, exchange rate regimes and manufacturing sector in Nigeria from 1986 to 2017 and determines the effect of interest rate and exchange rate interaction on manufacturing sector output. It investigates the dynamic effects of exchange rate fluctuations and interest rate instability on manufacturing sector output, examines the response of manufacturing sector output to shocks from exchange rate fluctuations and interest rate instability. It also determines the threshold levels of exchange rate and interest rate that will spur manufacturing sector output in Nigeria. These are with a view to examining the relationship among exchange rate fluctuations, interest rate instability and manufacturing sector output in Nigeria. The study uses secondary data. Annual data from 1986 to 2017 on manufacturing sector output, exchange rate, interest rates, gross fixed capital formation, credit to manufacturing sector, real GDP per capita, agricultural sector output, construction sector output, trade sector output, service sector output, tax revenue, inflation rate and trade openness are obtained from the Central Bank of Nigeria Statistical Bulletin of various years and World Development Indicators of various years, published by World Bank. The data collected is analysed using tables, graphs, Fully Modified Ordinary Least Square estimator, Autoregressive Distributed Lag model, Vector Autoregressive model and Sarel Threshold model to achieve the stated objectives. The study concludes that exchange rate fluctuations and interest rate instabilty dampened manufacturing sector output in Nigeria.

Determinants of Inflation, Exchange Rate, and Output in Nigeria

Author : Louis Kuijs
Publisher : International Monetary Fund
ISBN 13 : 1451981732
Total Pages : 34 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Determinants of Inflation, Exchange Rate, and Output in Nigeria by : Louis Kuijs

Download or read book Determinants of Inflation, Exchange Rate, and Output in Nigeria written by Louis Kuijs and published by International Monetary Fund. This book was released on 1998-11-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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).

Exchange Rate Policy and Nigeria's Economic Growth

Author : Felicia Anyanwu
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Exchange Rate Policy and Nigeria's Economic Growth by : Felicia Anyanwu

Download or read book Exchange Rate Policy and Nigeria's Economic Growth written by Felicia Anyanwu and published by . This book was released on 2017 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: The exchange rate policy seems to be the life-wire of the Nigeria economy following the introduction of structural adjustment programme in 1986 which the mark the starting point of the depreciation of the local currency against the US dollar. With this in our minds, this study ascertains the impact of real exchange rate on gross domestic product and manufacturing capacity utilization of Nigeria from 1986 to 2015. The time series data we collected from the Central Bank of Nigeria statistical bulletin of 2015 passed the stationarity test and subjected to sensitivity analysis visa viz: Ramsey Reset specification, serial correlation, heteroskedasticity and multi-collinearity test. The ordinary least square estimation technique was applied in estimating the models developed. A long run relationship between exchange rate policy and economic growth was reveal by Johansen co-integration analysis. Focusing on impact assessment, the pairwise granger causality reveals that real exchange rate has significant impact on real gross domestic product and there is a positive but insignificant relationship between real exchange rate and real gross domestic product. Regardless of the positive and insignificant relationship between real exchange rate and manufacturing capacity utilization, real exchange rate significantly impacts manufacturing capacity utilization within the period studied. The Central Bank of Nigeria should put in place a strict foreign exchange policy control to ensure that the value of Naira against other currency is properly determined. Unethical practices by banks leading depreciation of the Naira should be investigated and erring operators sanctioned accordingly. Incentives, e.g. tax holiday and subsidies should be given to local manufacturers to improve output. An industrial blueprint should be put in place to allow a connection between agriculture and manufacturing to increase foreign exchange from exports.

The Impact of Exchange Rate Dynamics on Agricultural Output Performance in Nigeria

Author : Wasiu Adekunle
Publisher :
ISBN 13 :
Total Pages : 20 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis The Impact of Exchange Rate Dynamics on Agricultural Output Performance in Nigeria by : Wasiu Adekunle

Download or read book The Impact of Exchange Rate Dynamics on Agricultural Output Performance in Nigeria written by Wasiu Adekunle and published by . This book was released on 2018 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study investigated the possible asymmetric effect of real exchange rate dynamics on agricultural output performance in Nigeria over the period of 1981 to 2016 by collecting data from secondary sources. The study employed a combination of stationary and nonstationary variables as was found out through the ADF unit root test. Based on the Bounds test for cointegration, a long-run relationship was absent between real exchange rate and agricultural output, irrespective of specifications. Generally, the result of model estimation showed that the significant drivers of agricultural output are real exchange rate (log-levels), real appreciation and depreciation (after some lags), industrial capacity utilization rate, and government expenditure on agriculture (after some lags). ACGSF loan exerted positive and insignificant influence on agricultural output. In addition, though the effect of real appreciation was larger than that of real depreciation, the present study could not find any evidence in support of the asymmetric effect of real exchange rate dynamics on agricultural output performance in the Nigerian economy. It is therefore suggested that fiscal and monetary authorities in Nigeria should work in unison at ensuring that the full potentials of the agricultural sector are harnessed for the growth and development of the country.

An Assessment of the Exchange Rate Pass-Through in Angola and Nigeria

Author : Ana Lariau
Publisher : International Monetary Fund
ISBN 13 : 1475538189
Total Pages : 31 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis An Assessment of the Exchange Rate Pass-Through in Angola and Nigeria by : Ana Lariau

Download or read book An Assessment of the Exchange Rate Pass-Through in Angola and Nigeria written by Ana Lariau and published by International Monetary Fund. This book was released on 2016-09-21 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates the exchange rate pass-through to consumer price inflation in Angola and Nigeria, with particular emphasis on the changes of the pass-through over time. Even though the two countries share smilar dependence on oil exports, this paper reveals different results. For Angola, the long-run exchange rate pass-through to prices is high, though it has weakened in recent years reflecting the de-dollarization of the economy. In Nigeria, there is no stable long-run relationship between the exchange rate and prices, and changes in the exchange rate do not have a significant pass-through effect on inflation. However, the passthrough effect on core inflation is significant.

Handbook of Financial Time Series

Author : Torben Gustav Andersen
Publisher : Springer Science & Business Media
ISBN 13 : 3540712976
Total Pages : 1045 pages
Book Rating : 4.5/5 (47 download)

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Book Synopsis Handbook of Financial Time Series by : Torben Gustav Andersen

Download or read book Handbook of Financial Time Series written by Torben Gustav Andersen and published by Springer Science & Business Media. This book was released on 2009-04-21 with total page 1045 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Financial Time Series gives an up-to-date overview of the field and covers all relevant topics both from a statistical and an econometrical point of view. There are many fine contributions, and a preamble by Nobel Prize winner Robert F. Engle.

Forecasting Economic Time Series

Author : C. W. J. Granger
Publisher : Academic Press
ISBN 13 : 1483273245
Total Pages : 353 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis Forecasting Economic Time Series by : C. W. J. Granger

Download or read book Forecasting Economic Time Series written by C. W. J. Granger and published by Academic Press. This book was released on 2014-05-10 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Theory, Econometrics, and Mathematical Economics, Second Edition: Forecasting Economic Time Series presents the developments in time series analysis and forecasting theory and practice. This book discusses the application of time series procedures in mainstream economic theory and econometric model building. Organized into 10 chapters, this edition begins with an overview of the problem of dealing with time series possessing a deterministic seasonal component. This text then provides a description of time series in terms of models known as the time-domain approach. Other chapters consider an alternative approach, known as spectral or frequency-domain analysis, that often provides useful insights into the properties of a series. This book discusses as well a unified approach to the fitting of linear models to a given time series. The final chapter deals with the main advantage of having a Gaussian series wherein the optimal single series, least-squares forecast will be a linear forecast. This book is a valuable resource for economists.

Exchange-Rate Dynamics

Author : Martin D. D. Evans
Publisher : Princeton University Press
ISBN 13 : 1400838843
Total Pages : 561 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Exchange-Rate Dynamics by : Martin D. D. Evans

Download or read book Exchange-Rate Dynamics written by Martin D. D. Evans and published by Princeton University Press. This book was released on 2011-03-14 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive and in-depth look at exchange-rate dynamics Variations in the foreign exchange market influence all aspects of the world economy, and understanding these dynamics is one of the great challenges of international economics. This book provides a new, comprehensive, and in-depth examination of the standard theories and latest research in exchange-rate economics. Covering a vast swath of theoretical and empirical work, the book explores established theories of exchange-rate determination using macroeconomic fundamentals, and presents unique microbased approaches that combine the insights of microstructure models with the macroeconomic forces driving currency trading. Macroeconomic models have long assumed that agents—households, firms, financial institutions, and central banks—all have the same information about the structure of the economy and therefore hold the same expectations and uncertainties regarding foreign currency returns. Microbased models, however, look at how heterogeneous information influences the trading decisions of agents and becomes embedded in exchange rates. Replicating key features of actual currency markets, these microbased models generate a rich array of empirical predictions concerning trading patterns and exchange-rate dynamics that are strongly supported by data. The models also show how changing macroeconomic conditions exert an influence on short-term exchange-rate dynamics via their impact on currency trading. Designed for graduate courses in international macroeconomics, international finance, and finance, and as a go-to reference for researchers in international economics, Exchange-Rate Dynamics guides readers through a range of literature on exchange-rate determination, offering fresh insights for further reading and research. Comprehensive and in-depth examination of the latest research in exchange-rate economics Outlines theoretical and empirical research across the spectrum of modeling approaches Presents new results on the importance of currency trading in exchange-rate determination Provides new perspectives on long-standing puzzles in exchange-rate economics End-of-chapter questions cement key ideas

Journal of Economic Management

Author :
Publisher :
ISBN 13 :
Total Pages : 126 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Journal of Economic Management by :

Download or read book Journal of Economic Management written by and published by . This book was released on 1997 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Impact of Bank Credit on the Real Sector

Author : I. Oluwafemi Oni
Publisher :
ISBN 13 :
Total Pages : 10 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Impact of Bank Credit on the Real Sector by : I. Oluwafemi Oni

Download or read book Impact of Bank Credit on the Real Sector written by I. Oluwafemi Oni and published by . This book was released on 2014 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper examines the impact of bank credit to output growth in the manufacturing and agricultural sub sectors of the economy over the period 1980-2010. Using the error correction modeling techniques, the results show that bank credit has significant impact on manufacturing output growth both in the short run and long run but not in the agricultural sub sector. Inflation and exchange rate depreciation have negative effects on manufacturing output growth in both short run and long run. To boost output growth in the real sector, more bank credit should be made available to the real sector especially the manufacturing sector. Also, inflation should be kept low while the value of the domestic currency should be strengthened.

Nigeria's Exchange Rate Policy and Management

Author : Michael I. Obadan
Publisher :
ISBN 13 :
Total Pages : 76 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Nigeria's Exchange Rate Policy and Management by : Michael I. Obadan

Download or read book Nigeria's Exchange Rate Policy and Management written by Michael I. Obadan and published by . This book was released on 1993 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt:

An Empirical Assessment of the Exchange Rate Pass-through in Mozambique

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1513573691
Total Pages : 34 pages
Book Rating : 4.5/5 (135 download)

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Book Synopsis An Empirical Assessment of the Exchange Rate Pass-through in Mozambique by : International Monetary Fund

Download or read book An Empirical Assessment of the Exchange Rate Pass-through in Mozambique written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-05-06 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determining the magnitude and speed of the exchange rate passthrough (ERPT) to inflation has been of paramount importance for policy-makers in developed and emerging economies. This paper estimates the exchange rate passthrough in Mozambique using econometric techniques on a sample spanning from 2001 to 2019. Results suggest that the ERPT is assymetric, sizable and fast, with 50 percent of the exchange rate variations passing through to prices in less than six months. Policy-makers should continue to pursue low and stable inflation and develop a strong track record of prudent macroeconomic policies for the ERPT to decline.

Oil Windfalls

Author : Alan H. Gelb
Publisher : Oxford University Press
ISBN 13 : 9780195207743
Total Pages : 376 pages
Book Rating : 4.2/5 (77 download)

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Book Synopsis Oil Windfalls by : Alan H. Gelb

Download or read book Oil Windfalls written by Alan H. Gelb and published by Oxford University Press. This book was released on 1988 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.

Fiscal Policy and Long-Term Growth

Author : International Monetary Fund
Publisher : International Monetary Fund
ISBN 13 : 1498344658
Total Pages : 257 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund

Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.

Macroeconomic Policy Issues in an Open Developing Economy

Author : Akin Iwayemi
Publisher :
ISBN 13 :
Total Pages : 574 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Macroeconomic Policy Issues in an Open Developing Economy by : Akin Iwayemi

Download or read book Macroeconomic Policy Issues in an Open Developing Economy written by Akin Iwayemi and published by . This book was released on 1995 with total page 574 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Economics of World War I

Author : Stephen Broadberry
Publisher : Cambridge University Press
ISBN 13 : 1139448358
Total Pages : 363 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis The Economics of World War I by : Stephen Broadberry

Download or read book The Economics of World War I written by Stephen Broadberry and published by Cambridge University Press. This book was released on 2005-09-29 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.