The Impact of Exchange Rate on Nigeria Non-Oil Exports
Journal Title: International Journal of Academic Research in Accounting, Finance and Management Sciences - Year 2015, Vol 5, Issue 1
Abstract
The study examines the impact of exchange rate on non-oil export. We used time series data obtained from CBN for a period of 27 years that is 1986 to 2013. Augmented Dickey-Fuller (ADF) test was used for the unit root test and Johansen’s co-integration test was also conducted to establish short and long run relationships between non-oil exports and independent variables. The result shows three co-integrating equations which establish the existence of long run relationship among the variables. Ordinary Least Square statistical technique was used to assess the determinants of non-oil export in Nigeria. The results show that effective exchange rate, money supply, credit to the private sector and economic performance have a significant impact on the growth of non-oil export in the Nigerian economy and appreciation of exchange rate has negative effect on non-oil export which is consistent with the economic theory. Following this, the study recommended among others that monetary authority should ensure exchange rate stability in order to stem inflationary tendencies in Nigeria which have adverse effect on the growth of non-oil export.
Authors and Affiliations
Lawrence Ehikioya Imoughele, Mohammed Ismaila
Role of Public Procurement Oversight Authority on Procurement Regulations in Kenyan State Corporations. A Case of Kenya Electricity Generating Company (KenGen)
Public procurement has become a major driver of the economy; since the government spends a huge sum of money in this sector. Due to this, the government has established oversight bodies to ensure that public procedures a...
The Impact of Intellectual Capital on the Financial Performance of Listed Companies in Tehran Stock Exchange
In the age of knowledge-based economy, an organization uses two distinguished resources for value creation and profit making: material or tangible resources and intellectual or invisible resources. In fact, it is claimed...
Evaluations on the Earning Quality of Listed Firms in Jordan
Earnings Quality is a crucial indicator of companies which may have negative earnings surprises and underperform due to high amounts of accruals. Earnings quality is a relative measure and as thus is interpreted relative...
Comparative Study of Capital Structure Determinants in Selected Stock Exchanges of Developing Countries and Tehran Stock Exchange
This paper studies determinants of capital structure in listed firms of selected stock exchanges of developing countries and Tehran stock exchange, and comprises effects of these determinants on selected stock exchanges...
Monetary Policy Inclusive Growth: Empirical Evidence from Malaysia
The static growth of foreign direct investment since 2006 and current growth per capita of 3.11% in 2015 about 4.89% in 1980 spark a growing interest in the role of monetary policy. The unexplored causal relationship bet...