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).
Download or read book Determinants of inflation exchange rates and output in Nigeria written by Louis Kuijs and published by . This book was released on 1998 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Modelling the Inflation Process in Nigeria written by Olusanya E. Olubusoye and published by . This book was released on 2008 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Main Determinants of Inflation in Nigeria written by Mr.Gary G. Moser and published by International Monetary Fund. This book was released on 1994-06-01 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides a selective review of the literature on the determinants of inflation in Nigeria, analyzes the dominant factors influencing inflation, presents the empirical results of a reduced-form elasticities model, and discusses the policy implications of the empirical results. The results of this analysis confirm the basic findings of earlier studies, namely that monetary expansion, driven mainly by expansionary fiscal policies, explains to a large degree the inflationary process in Nigeria. Other important factors are the devaluation of the naira and agroclimatic conditions. With respect to the depreciation of the naira, it was found that concurrent fiscal and monetary policies had a major influence on its impact on inflation. Given the considerable role of food commodities in the CPI, agroclimatic conditions (rainfall) were found to play a significant role in overall movements in prices and should be fully taken into consideration in any analysis of the inflationary process in Nigeria.
Download or read book Exchange Rate Depreciation Budget Deficit and Inflation written by Festus O. Egwaikhide and published by . This book was released on 1994 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book Determinants of the Exchange Rate in Nigeria written by Charles Ogboi and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
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.
Download or read book Dynamics of Trade and Exchange Rate Policies Macroeconomic Adjustment and Economic Performance written by A. O. Adewuyi and published by . This book was released on 2003 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Determinants of Interest Rates in Nigeria written by Louis N. Chete and published by . This book was released on 2006 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monetary Policy and its Effects on Inflation in Nigeria 2009 2014 written by Tonprebofa Okotori and published by GRIN Verlag. This book was released on 2018-07-19 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: Master's Thesis from the year 2017 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 4.24, Wilberforce Island (School of Post Graduate Studies), course: Banking and Finance, language: English, abstract: The aim of this study was to investigate the effect of monetary policy variables that were consistently adopted by the Central Bank of Nigeria (CBN), on the inflation rate in Nigeria for the period 2009-2014. Two key issues where addressed; one, whether there was a significant relationship between the policy variables adopted and inflation. Two, whether the combined impact of all these variables adopted, was significant on the inflation rate. Data was sourced from the CBN’s statistical bulletin 2014, from the website of the CBN and the National Bureau of Statistics (NBS). The Ordinary Least Squares (OLS) method was adopted because of its best linear unbiased estimation (BLUE) property. The Augmented Dickey-Fuller test for stationarity, showed that the variables were all stationary at order one (1). Cointegration test also revealed that a long run relationship exists among the variables. The results show that apart from the MPR, all other policy variables were significant at the 5% level of significance (the monetary policy horizon) and this addressed the first key issue highlighted. For the second key issue, the estimation model displayed that all the explanatory variables adopted by the CBN (as used in this research) accounted for 61% of the variation in the inflation rate as regards its rise or drop. Hence, the combined effect of all the variables adopted by the CBN did reduce the inflation rate, as the monetary policy shocks did get traction on the economy in arriving at the policy trajectory of an inflation band of 6-9%. The CBN should constantly examine its policy environment to determine the instrument mix optimization that best serves its prime purpose of macroeconomic stability, especially when its inflation target is achieved.
Download or read book Determinants of Credit Flow from the Nigerian Banking System an Empirical Analysis written by 'Tunde Adeoye and published by . This book was released on 2003 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Inflation in Emerging and Developing Economies written by Jongrim Ha and published by World Bank Publications. This book was released on 2019-02-24 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications. In addition, the report analyzes inflation and monetary policy related challenges in LICs. The report documents three major findings: In First, EMDE disinflation over the past four decades was to a significant degree a result of favorable external developments, pointing to the risk of rising EMDE inflation if global inflation were to increase. In particular, the decline in EMDE inflation has been supported by broad-based global disinflation amid rapid international trade and financial integration and the disruption caused by the global financial crisis. While domestic factors continue to be the main drivers of short-term movements in EMDE inflation, the role of global factors has risen by one-half between the 1970s and the 2000s. On average, global shocks, especially oil price swings and global demand shocks have accounted for more than one-quarter of domestic inflation variatio--and more in countries with stronger global linkages and greater reliance on commodity imports. In LICs, global food and energy price shocks accounted for another 12 percent of core inflation variatio--half more than in advanced economies and one-fifth more than in non-LIC EMDEs. Second, inflation expectations continue to be less well-anchored in EMDEs than in advanced economies, although a move to inflation targeting and better fiscal frameworks has helped strengthen monetary policy credibility. Lower monetary policy credibility and exchange rate flexibility have also been associated with higher pass-through of exchange rate shocks into domestic inflation in the event of global shocks, which have accounted for half of EMDE exchange rate variation. Third, in part because of poorly anchored inflation expectations, the transmission of global commodity price shocks to domestic LIC inflation (combined with unintended consequences of other government policies) can have material implications for poverty: the global food price spikes in 2010-11 tipped roughly 8 million people into poverty.
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.
Download or read book Flexible Exchange Rates for a Stable World Economy written by Joseph E. Gagnon and published by Peterson Institute. This book was released on 2011 with total page 265 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1995-01-01 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper develops an endogenous growth model of the influence of public investment, public transfers, and distortionary taxation on the rate of economic growth. The growth–enhancing effects of investment in public capital and transfer payments are modeled, as is the growth–inhibiting influence of the levying of distortionary taxes that are used to fund such expenditure. The theoretical implications of the model are then tested with data from 23 developed countries between 1971 and 1988, and time series cross sectional results are obtained that support the proposed influence of the public finance variables on economic growth.
Download or read book The Great Inflation written by Michael D. Bordo and published by University of Chicago Press. This book was released on 2013-06-28 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
