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Medvedev Download Free PDF View PDF RELATED TOPICS Stock Markets See Full PDF
Download PDF About Press Blog People Papers Topics Job Board We're Hiring. The study also
recommended diversification the country's revenue sources to developed non-oil Export as an
alternative source of foreign income which reduces the exchange rate pressure. QR Codes Generate
QR Codes for your digital content. Determinants of stock price movements in nigeria evidence from
monetary varia. Our model adjust its prior periods dis-equilibrium at a speed of 56.98% annually
with the (?1) coefficient value-0.5698; also to achieve long term equilibrium stable state, the VECM
shows a significant speed of correction of about 56.98% for adjusting dis-equilibrium annually. It
was found that a positively significant relationship exists between real exchange rate and reserves
with nominal exchange rate sharing a positive but non-significant relationship with foreign reserves.
The results revealed that, the variables follow linear estimates, showed that, the response of Non-Oil
Export to Exchange Rate volatility is positive and significant. Impact of exports on economic growth
of ecowas countries a comparative analys. Implications of Exchange Rate Fluctuation and Economic
Performance: The Niger. Examining the Relationship between Term Structure of Interest Rates and
Econo. A Dynamic Analysis of the Impact of Capital Flight on Real Exchange Rate in N. Lastly,
since the economic openness hurts economic growth, it is therefore suggested that the government
should sustain its current efforts in diversifying the economy in the country and d. Rose (1996) were
able to reject the random walk null in a large sample of 150 countries. Thus, if the menace of high
rate of exchange is not checked, it will weakened Nigeria naira in relation to other international
currencies such as Euros, USA dollar and Pound starlings. Download Free PDF View PDF IMPACT
OF EXCHANGE RATE FLUCTUATION ON THE ECONOMIC GROWTH IN NIGERIA Bello A
Sulaimon This research work is centered on the impact of exchange rate fluctuation on the Nigeria’s
economic growth from 1986 to 2015. Macroeconomic Variables and Stock Price Changes in
Emerging Stock Market Evid. These factors have tended to sustain a pattern of real exchange rate,
which has been unfavourable for growth. A number of studies from the mid 1980s and onwards
have. The normalized co-integration technique was used to test for long-run relationship between
exchange rate and manufacturing output while the granger causality test was used to ascertain the
direction of causality between them. Based on these findings, the study recommended amongst
others that Nigeria government should diversify her product and export opportunities so as to
become price giver and not a price taker in the international market. But the result further revealed
that economic openness was found to have impacted negatively on economic growth. However, there
is no causality between RIR and RGDP as evidenced by Pairwise Granger Causality Tests results.
There also arises the need to ensure effective foreign exchange management measures particularly in
terms of meeting the high demands for foreign currency which characterized the balance.
International Journal of Economics and Financial Research Exchange Rate Channel and Economic
Growth: Empirical Investigation in a Devel. Tone at the top: the effects of gender board diversity on
gender wage inequal. Engel, C. and J.H. Rogers,(1996). “How Wide Is the Border?” American
Economic Review 86. Download Free PDF View PDF i THE EFFECT OF EXCHANGE RATE
FUNCTIONS ON THE NIGERIA MANUFACTURING SECTOR: A CASE STUDY OF
BUTTERFIELD BAKERY Ojo A D U R A G B E M I Sunday The title of this research study is the
effect of exchange rate functions on the Nigeria manufacturing sector in which Butterfields bakery
was used as case study. Theoretically, volatility-trade link is ambiguous, although a strand of studies
reported inverse link between export flow and volatility. GDP per capita was adopted as proxy for
economic development. This study seeks to evaluate the impact of exchange rate volatility on
international trade in Nigeria on the basis of annual data from 1980 to 2013, which was obtained
from World Bank Development Indicators (WDI).
Findings revealed that Exchange Rate was interrelated in the long run and has a positive impact on
Economic Rate (GDP) between the years stu. Index (Inflation rate), deposit rate and lending rate.
Two distinct phases of exchange rate regimes namely, fixed and floating were adopted in the study.
This figure represents the autonomous foreign exchange. Thus, the Error Correction Methodology
(ECM) was used to investigate short-term and long-term relationships. A Generalised Method of
Moments (GMM) technique was explored. Under this approach, the trace test statistic was used in.
Will the dollar lost its dominant role in international transactions as a reserve currency. Tone at the
top: the effects of gender board diversity on gender wage inequal. Empirical analysis of the
relationship between stock market returns and macro. Nigeria Economic and Financial Review,
35(3):274-297. The results suggested that at level, the differences in the definitions of real exchange
rate were inconsequential as the relevant indices generally returned similar performance. Pipenger,
M.k.(2004): “ Co-integration Test of Purchasing Power parity: The case of Swiss. You can download
the paper by clicking the button above. Issuu turns PDFs and other files into interactive flipbooks
and engaging content for every channel. However, the study showed that the volatility of variance of
the residual among the four models differs from each other. In contrast with previous findings, ours
study strongly suggest that exchange rate regimes indeed matter in terms of real economic
performance in Nigeria as the results reveal that deregulated exchange rate regime spur economic
growth in Nigeria as against the whole period and fixed exchange rate regime. The paper makes use
of the monthly data on Naira-Dollar exchange rates from 1991 to 2016 which was sourced from the
Central Bank of Nigeria statistical bulletin. At the end from the result obtained, the paper
recommends that the extension should always be taken into considerations in the computations of
effective exchange rate especially for the developing nations like Nigeria; also, Central banks of
these countries should endeavour to include as many trading partners as possible into their
computations. Purchasing Power Parity measured in this way will hold. Hence, we studied the
perspectives of blood donors on their donation and the challenges faced by the National Blood
Centre, Yangon (NBC), during the COVID-19 pandemic. A Dynamic Analysis of the Impact of
Capital Flight on Real Exchange Rate in N. Bank of Nigeria to dump the floating exchange rate
system and opt for the purchasing. It is therefore observed and recommended that the Nigeria
government should employ greater policy sensitivity towards the openness of the economy so that the
capital flows that come through foreign direct investment (FDI) will be beneficial to the economy as
a whole. Alexander Decker Impact of Visual Merchandising on Impulsive Buying Behavior of Sri
Lankan Mod. These include Nwafor(2006) who investigated the determination of.
AkashSharma618775 The performance of manufacturing sector and utilization capacity in nigeria
The performance of manufacturing sector and utilization capacity in nigeria orlhawahlay Public
policy and trade liberalisation in nigerian economic development Public policy and trade
liberalisation in nigerian economic development Alexander Decker A Dynamic Analysis of the
Impact of Capital Flight on Real Exchange Rate in N. In his own contribution, Isard, (1995) argued
that, as long as anything likes free movement. Broad Money Supply (M2) Official Exchange Rate
Foreign Reserve. Lastly, since the economic openness hurts economic growth, it is therefore
suggested that the government should sustain its current efforts in diversifying the economy in the
country and d.
Nonetheless, there is no evidence of fluctuation in the foreign exchange rate market, caused by
changes in oil prices in Nigeria as at the time of the study since the shock effect between oil price and
exchange rate dynamics is relatively not significant in the long run and hence, in explaining the
reasons for volatility in exchange rate as represented in EGARCH result. All these results 1 were
invariant to the form of the data series, whether at level or order of integration. Issuu turns PDFs and
other files into interactive flipbooks and engaging content for every channel. In Nigeria, the story is
not significantly different as the rising trend of reserves accumulation became quite dramatic in the
2000s. This was replaced by the re-introduction of the Dutch auction. Following this, the test for co-
integration was performed using the Johansen Maximum. Others also investigated the role of
exchange rate on. Social Posts Create on-brand social posts and Articles in minutes. The debate rather
focuses on the degree of fluctuations in the exchange rate in the face of internal and external shocks.
Measures that could stabilize the Nigeria currency should be pursued with vigor. Ironically, the
distortions inherent in an overvalued exchange rate regime are hardly a subject of debate in
developing economies that are dependent on imports for production and consumption. Implications
of Exchange Rate Fluctuation and Economic Performance: The Niger. South Africa, Kearns and
Munners(2006) on Australia(using event study method), Leitemo et al(2002) on Norway. Based on
these findings it was recommended that the government through its monetary authority such as
(CBN) should redesign the existing monetary policies to maintain a stable exchange rate. Therefore,
the study concludes that the exchange rate volatility can actually produce negative effect on non-oil
export industries in the short-run especially the big industries (Agriculture, food and manufacturing)
but this effect does not linger into the long-run and this suggests that most of these industries have
been able to develop a mechanism to cope with exchange rate volatility problem in the long-run.
Pippenger (2004) argued that commodity arbitrage takes place across time as well as space. While
the channels through which exchange rate depreciation affects prices are known, the extent to which
this phenomenon engenders price inflation in Nigeria is still not well researched. Isard, P. (1978).
“Lesson from Empirical Models of Exchange rates”.IMF Staff Papers, Vol.34, No. A review of the
literature reveals that exchange rate volatility has a negative impact on international trade. The recent
studies that use panel data to test for PPP include. The estimated coefficient of the ECM reveals that
about 132% of the errors in the short run are corrected in the long run. The Theoretical frame work
of the study is Balassa-samulson theory.The estimation technique employed was Ordinary Least
Square (OLS) of multiple linear regression analysis and Unit root test. The ARDL short run results
showed that exchange rate variation (EXV) had a negative and significant impact on economic
growth. The key variables trade openness that captured the total imports and exports by way of
proportion of gross domestic product (GDP), exchange rate, direct inves. From 1986 being the year
the monetary authority shifted from fixed exchange rate regime to flexible exchange rate regime to
2013. While the impulse response result showed that, real gross domestic product (RGDP), one
period lag of exchange rate devaluation, money supply, external reserve, interest rate, balance of
payment all responded positively to shocks generated by exchange rate devaluation in the economy;
while inflation, trade openness and non-oil export responded negatively. Download Free PDF View
PDF CAUSALITY ANALYSIS OF VOLATILITY IN EXCHANGE RATE AND STOCK
MARKET PRICES: A CASE STUDY OF PAKISTAN Rana Ejaz Ali Khan, Rafaqat Ali This study
attempted to investigate the direction of causation between the volatilities of exchange rate and stock
market prices in Pakistan. This will help to stabilize oil price and promote growth. Also, inflation rate
in the preceding period did have significant impact in the succeeding period. 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.
Yichen Liu Download Free PDF View PDF 0822.2083.0527 (TSEL) Benih Pokok Petai Hybrid
Pollarise GROUPS Benih Pokok Petai Hybrid, Bibit Petai Pekanbaru, Bibit Pohon Petai, Bibit Petai
Sambung Pucuk, Benih Pokok Petai Hybrid, Benih Pokok Petai Rendah, Jual Bibit Pohon Petai, Cari
Bibit Pohon Petai Pollarise Group adalah tempat jual-beli bibit buah. The main type of data used in
this study is secondary; sourced from Central Bank of Nigeria Statistical Bulletin of various issues.
The causal relationship between interest rates and foreign exchange rates in. Included observations:
21 after adjusting endpoints. Econometric evidence obtained from Bayesian VAR estimation reveals
that reserves holdings increase with increasing exchange rate flexibility. All the journals articles are
available online to the. The findings of the study suggests that monetary policies particularly
exchange rate have been volatile. RELATED PAPERS Astrophysics and Space Science The period
variation of the double mode high amplitude. The debate rather focuses on the degree of fluctuations
in the exchange rate in the face of internal and external shocks. Teams Enable groups of users to
work together to streamline your digital publishing. The foreign exchange monetary model on which
this study was anchored assumes that changes in money supply results to changes in exchange rate
either directly or indirectly. Cointegration results revealed that a stable long-run equilibrium
relationship exists between nonoil exports and the fundamental variables. The study used ordinary
least square multiple regression method. Exchange rate of a country plays a key role in international
economic transactions because no nation can remain in autarky due to varying factor endowment.
The policy implication of these was that since all the estimated variables are monetary phenomena,
adequate monetary policy should be employed to balance the role that money supply plays in budget
deficit, interest rate and consequently moderate inflation in stabilizing the economy JEL
Classifications: E40, E51, E52. The results of the analysis showed that all the independent variables
have significant and positive relationship with dependent variable with R2 at 80%. Conference on
Accelerating Africa’s Development 5 years into the 21st century, Tunis, Tunisia, November 22-24,
2006. The study also reveals, 2) none significant causality link going from stock market development
to GDP in Ivory Coast and Nigeria; it also found that, 3) main macroeconomic variables influencing
(or influenced by) stock market are Inflation and Money supply. Exchange Rate Deregulation and
Nigeria’s Industrial Output (1970-2015) Exchange Rate Deregulation and Nigeria’s Industrial
Output (1970-2015) Do Exchange Rate and Inflation Matters to Nigerian Economy. International
Journal of Economics and Financial Research Macroeconomic Variables and Stock Price Changes in
Emerging Stock Market Evid. The main type of data used in this study is secondary; sourced from
Central Bank of Nigeria Statistical Bulletin of various issues. A Dynamic Analysis of the Impact of
Capital Flight on Real Exchange Rate in N. However, this policy tool requires political discipline and
enforcement capacity to ensure that it is effective and that it is not distorted for corrupt or illicit
purposes. Purchasing Power Parity measured in this way will hold. Even with t-statistic all the
independent variable coefficients. An Empirical Investigation for the Nexus between Agricultural
Sector Export B. This view was supported by Baldwin and krugman (1989); Dixit (1989) and
krugman. Infant Nigerian produced goods should be given high priority. The result also shows that
10% increase in oil price leads to 19% increase in REXR in the long run. A sample of 52 years(1960-
2011) macroeconomic data was taken to ascertain the relationship between Naira exchange rate.
A major policy implication of the results of the study is that concerted effort should be made by the
Nigeria's government to strengthen the production capacity of domestic firms and industries in order
to reduce the level of the imported consumer and capital goods. The Effect of Inflation, Interest
Rates and Exchange Rates on Stock Prices C. Regardless of the form of the data series, level or
order of integration, non-oil export was the variable consistently explained by real exchange rates
under the full sample. The difference was attributed to the increased in the number of trading
partners that was involved in the latter. The objective of this study was to examine the effect of
foreign exchange rate movements on Nigeria's economic development. This paper notes that it will
happen, albeit slowly. You can download the paper by clicking the button above. A Dynamic
Analysis of the Impact of Capital Flight on Real Exchange Rate in N. The study reveals that: 1)
DSX results are not significant causing economic growth, neither the converse, showing how
desperately Cameroon market needs to be boosted if the country wishes to reach an acceptable
economic situation in 2035. The Exchange Rate Determination in Nigeria: The Purchasing. 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. It is customary to define exchange rate as the price of one unit of the foreign
currency in terms of the domestic currency. Also, more recently researches have been examining the
asymmetry and non-linear properties in variance of financial assets, rather than the conditional mean.
The error correction term in the model has the right negative sign and statistically significant at 5%
conventional level with the speed of adjustment at 64.88%. The R 2 value of 66%, showed that the
model is a good fit. The study used secondary time series data sourced from the central bank of
Nigeria and the World Bank and tested the effect of the independent variables (namely-foreign
exchange rate, inflation rate and monetary policy rate) on the dependent variable, economic
development proxy by Human Development index using the ordinary regression, co-integration and
Granger-causality techniques, and tested at the 5% level of significance. The study employed the
ordinary least square (OLS) multiple regression technique for the analysis. The econometric
techniques used in the analysis were: Unit Root Test, Johansen Cointegration Test, and Error
Correction Model (ECM). In the same vein the co-integration test shows that, there's a long run
relationship between inflation and exchange rate volatility in Nigeria and finally the granger casualty
test shows a unidirectional casualty between the two variables inflation and exchange rate volatility,
it shows that inflation causes exchange rate and not otherwise. The model was regressed using the
least square method. The study used conceptual, theoretical and empirical works in addition to
secondary data trend analysis sourced from the central bank and the World Bank. This indicate that
the floating exchange rate has been a better economic regime for sustainable economic growth in
Nigeria. PP test results show that all variables were stationary at first difference. The study used
secondary time series data sourced from the central bank of Nigeria and the World Bank and tested
the effect of the independent variables (namely-foreign exchange rate, inflation rate and monetary
policy rate) on the dependent variable, economic development proxy by Human Development index
using the ordinary regression, co-integration and Granger-causality techniques, and tested at the 5%
level of significance. The stationarity test via ADF showed that all the variables were stationary prior
further estimations to prevent false regressions results. The study also reveals, 2) none significant
causality link going from stock market development to GDP in Ivory Coast and Nigeria; it also
found that, 3) main macroeconomic variables influencing (or influenced by) stock market are
Inflation and Money supply. Finally, foreign exchange movement should be linked to these tested
macroeconomic variables for ease of its determination. Descriptive statistics and multiple regressions
were employed to find out the effects of exchange rate fluctuations on manufacturing sector in
Nigeria. Download Free PDF View PDF See Full PDF Download PDF Loading Preview Sorry,
preview is currently unavailable. There is also need to revisit some of the policies that conflict with
the monetary policy objectives to correspond with the modern financial system innovation that will
enhance the free flow of investment into the Nigeria economy. In doing this, the study is influenced
by SVAR cointegration and the error correction model.
From 1986 being the year the Nigerian monetary authority changed from fixed exchange rate system
to flexible exchange rate system. The paper concluded that variation in exchange rate influences
economic growth in Nigeria. This calls for investigation into the extent to which exchange rate
impact on inflation in Nigeria. The above scenario gives rise to some questions such as: what are the
factors that propel the exchange rate in Nigerian. It is therefore necessary to evaluate the effects of
exchange rate fluctuations on output growth and price inflation. Exchange rates have become
unfavorable to Nigeria as a result of using the floating foreign. Nigeria, The Developing Economies
XXX1X-2 2001:199-222. Not Know? United Nations Conference on Trade and Development, G24
Discussion Paper Series No.5. A review of the literature reveals that exchange rate volatility has a
negative impact on international trade. This implies that exchange rate depreciation can bring about
an increase in inflation rate in Nigeria. Similarly, exchange rate (ECR) had a negative and significant
impact on economic growth. Theoretically and empirically, volatility-trade link is ambiguous. Effect
of Foreign Exchange Rate Volatility on Industrial Productivity in Nige. The result shows that all
variables are stationary at first difference. Regression was conducted, in the first instance, to
determine the overall effect of exchange rate regime on development using the full data sample
(1970-2016). The causal relationship between interest rates and foreign exchange rates in. The
growth rates were determined by dividing the year on year in the absolute values of. The paper also
found that inflationary rate in Nigeria has a lagged cumulative effect. Social Posts Create on-brand
social posts and Articles in minutes. The study employed the ordinary least square (OLS) multiple
regression technique for the analysis. Furthermore, Exchange rate volatility and Stock Market
performance has a positive significant impact on Aggregate output. International Journal of
Economics and Financial Research Stock market volatility and macroeconomic variables volatility in
nigeria an. Frankel, J.A. and Rose, A (1996). “A panel project on purchasing power parity: mean
reversion. Based on these findings it was recommended that the government through its monetary
authority such as (CBN) should redesign the existing monetary policies to maintain a stable exchange
rate. The study recommended that government should enforce policy to discourage importation of
non-essential, less-productive goods and services and also create the enabling and favourable
environment to encourage production and exportation of goods and services. A broad program of
economic reform is required to complement the exchange rate policy adopted. 1.0 Introduction
Exchange rate policies in developing countries are often sensitive and controversial, mainly because
of the kind of structural transformation required, such as reducing imports or expanding non-oil
exports, which invariably imply a depreciation of the nominal exchange rate. This approach assumes
that equilibrium real exchange rates remain constant over time and. Do Exchange Rate and Inflation
Matters to Nigerian Economy. The research used ordinary least square regression technique to
estimate the parameters and examine the joint effects of. Alexander Decker Exchange Rate
Deregulation and Nigeria’s Industrial Output (1970-2015) Exchange Rate Deregulation and Nigeria’s
Industrial Output (1970-2015) AJHSSR Journal Do Exchange Rate and Inflation Matters to
Nigerian Economy.
African Institute of Applied Economics, New York University. The results of the analysis showed
that all the independent variables have significant and positive relationship with dependent variable
with R2 at 80%. Using quarterly observations for 20 years, vector cointegration estimate revealed
that the naira exchange rate volatility decreased nonoil exports by 3.65%, while the same estimate
for the US dollar volatility increased export of nonoil in Nigeria by 5.2% in the year 2003. This
article recommends the measures that would promote greater openness of the economy and exchange
rate stability in the economy. Frankel, J.A (1978). “On the mark: A theory of floating exchange rates
based on real interest. There also arises the need to ensure effective foreign exchange management
measures particularly in terms of meeting the high demands for foreign currency which characterized
the balance. Jhingan (2004) described Exchange rate as the rate at which a one currency exchanges
for another. Download Free PDF View PDF International Journal of Energy Economics and Policy
Analysis of Oil Price Oscillations, Exchange Rate Dynamics and Economic Performance Charles
Manasseh, Aja Egele This study examined the influence of oil price oscillation and exchange rate
dynamics on economic performance. To browse Academia.edu and the wider internet faster and more
securely, please take a few seconds to upgrade your browser. In his own contribution, Isard, (1995)
argued that, as long as anything likes free movement. Also, an enabling environment for the
production of exportable goods should be provided by the government. Agene, C.E.(1991), Foreign
Exchange and International Trade in Nigeria, Lagos, Gene publications. The ARDL result reveals
that there is insignificant long run relationship between fiscal deficit and inflation. Thailand) against
the U.S. Using Johansen long run model, it was found that a long run. Empirically, the results show
that we can accept the hypothesis of no co-integration between volatility and export of non-oil
industries in most cases. Based on quarterly series for the period 1986 to 2010, the paper examines
the possible direct and indirect relationship between exchange rates and GDP growth. The
coefficient of determination (R2), F-test, t Durbin-Watson were used in the interpretation results. It
is however instructive to test the validity of the purchasing power. Working capital management and
the performance of selected quoted manufacturi. Theoretically, volatility-trade link is ambiguous,
although a strand of studies reported inverse link between export flow and volatility. He further
stressed that it is the price of one currency in terms of another currency. Adobe InDesign Design
pixel-perfect content like flyers, magazines and more with Adobe InDesign. Download Free PDF
View PDF Annals of Spiru Haret University. While multiple regression models was adopted to
examine the effect of oil price and exchange rate dynamics on economic performance, we employed
exponential generalized autoregressive conditional heteroschedasticity (EGARCH) to investigate the
effect of oil price oscillation on exchange rate dynamic using annual time series data that covers the
period 1970-2013. Based on the above findings, we conclude that irrespective of policy adopted,
exchange rate constitutes a major factor in the planning and implementation of development-orie.
Udoka, Bassey I Ibor study was on managing the exchange rate risk in Nigeria. The dependent
variable is the Economic Growth (GDP) while the independent variables are Exchange Rate, Balance
of payment, Money supply and Inflation. But the result further revealed that economic openness was
found to have impacted negatively on economic growth. Business, Economics, Finance and
Management PAPER SUBMISSION EMAIL. The consequences of substantial misalignments of
exchange rates can lead to output contraction and extensive economic hardship.