Artikel
Currency substitution: Evidence from Nigeria
This paper examines the existence, causes and effects of currency substitution in Nigeria by estimating conventional money demand equations based on a partial adjustment and an autoregressive distributed lag models using three definitions of monetary aggregates. The behavior of the foreign currency/Naira deposit ratios have been influenced by devaluation expectations, exchange rate risks and political uncertainties during the Yar'adua-Jonathan presidency. Also, the money demand estimations reveal that short-term foreign interest rates significantly affect the demand for the Naira, suggesting strong evidence of currency substitution and the possibility of importing considerable instability in the economy.
- Sprache
-
Englisch
- Erschienen in
-
Journal: CBN Journal of Applied Statistics ; ISSN: 2476-8472 ; Volume: 05 ; Year: 2014 ; Issue: 2 ; Pages: 1-23 ; Abuja: The Central Bank of Nigeria
- Klassifikation
-
Wirtschaft
Money Supply; Credit; Money Multipliers
Demand for Money
Single Equation Models; Single Variables: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
- Thema
-
Currency Substitution
Demand for Money Function
Autoregressive Distributed Lag Approach
Monetary Policy
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Doguwa, Sani I.
- Ereignis
-
Veröffentlichung
- (wer)
-
The Central Bank of Nigeria
- (wo)
-
Abuja
- (wann)
-
2014
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Doguwa, Sani I.
- The Central Bank of Nigeria
Entstanden
- 2014
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