Artikel
Oil price and exchange rate nexus in Nigeria: Are there asymmetries
This paper examines the dynamics in the relationship between oil price and exchange rate in Nigeria by utilizing monthly data spanning January 1986 to June 2018. It specifically determines asymmetries in the relationship between oil price and exchange rate and the effect of oil price shocks on exchange rate. Threshold Autoregressive (TAR), Momentum Threshold Autoregressive (MTAR) and Structural Vector Autoregressive (SVAR) models were employed for the analysis. Findings of TAR and MTAR models confirm the absence of asymmetric cointegration, hence leading to the conclusion that in the case of Nigeria, there are no asymmetries in the relationship between oil price and exchange rate. Findings from the SVAR model show gradual appreciation (though with some time lag) of naira following positive shocks to oil price. The study recommends among others the need for diversification of foreign exchange earnings base of the economy, so as to minimise the effect of negative shocks to oil price.
- Sprache
-
Englisch
- Erschienen in
-
Journal: CBN Journal of Applied Statistics ; ISSN: 2476-8472 ; Volume: 10 ; Year: 2019 ; Issue: 1 ; Pages: 1-28 ; Abuja: The Central Bank of Nigeria
- Klassifikation
-
Wirtschaft
Foreign Exchange
Energy: Demand and Supply; Prices
- Thema
-
Asymmetric
Exchange Rate
MTAR
Nigeria
Oil Price
SVAR
TAR
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Abubakar, Attahir B.
- Ereignis
-
Veröffentlichung
- (wer)
-
The Central Bank of Nigeria
- (wo)
-
Abuja
- (wann)
-
2019
- DOI
-
doi:10.33429/Cjas.10119.1/6
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Artikel
Beteiligte
- Abubakar, Attahir B.
- The Central Bank of Nigeria
Entstanden
- 2019
Ähnliche Objekte (12)
Exploring oil price exchange rate nexus for Nigeria
Is there any relationship between monetary policy tools and external credit-growth nexus in Nigeria?
Toward achieving sustainable development agenda: Nexus between agriculture, trade openness, and oil rents in Nigeria
ARDL analysis of remittance and per capita growth nexus in oil dependent economy: The Nigeria's experience
The effects of oil shocks on government expenditures and government revenues nexus in Nigeria (with exogeneity restrictions)
Monetary policy and bank lending in France: are there asymmetries?
Monetary policy and bank lending in France: are there asymmetries?
Foreign trade-economic growth nexus: Evidence from Nigeria
ICT- social entrepreneurship nexus and job creation in Nigeria
Oil, environment and resource conflicts in Nigeria
Analysing oil price- macroeconomic volatility in Nigeria
Are there oil currencies? The real exchange rate of oil exporting countries
Exploring oil price exchange rate nexus for Nigeria
Is there any relationship between monetary policy tools and external credit-growth nexus in Nigeria?
Toward achieving sustainable development agenda: Nexus between agriculture, trade openness, and oil rents in Nigeria
ARDL analysis of remittance and per capita growth nexus in oil dependent economy: The Nigeria's experience
The effects of oil shocks on government expenditures and government revenues nexus in Nigeria (with exogeneity restrictions)
Monetary policy and bank lending in France: are there asymmetries?
Monetary policy and bank lending in France: are there asymmetries?
Foreign trade-economic growth nexus: Evidence from Nigeria
ICT- social entrepreneurship nexus and job creation in Nigeria
Oil, environment and resource conflicts in Nigeria
Analysing oil price- macroeconomic volatility in Nigeria
Are there oil currencies? The real exchange rate of oil exporting countries
Exploring oil price exchange rate nexus for Nigeria
Is there any relationship between monetary policy tools and external credit-growth nexus in Nigeria?
Toward achieving sustainable development agenda: Nexus between agriculture, trade openness, and oil rents in Nigeria
ARDL analysis of remittance and per capita growth nexus in oil dependent economy: The Nigeria's experience
The effects of oil shocks on government expenditures and government revenues nexus in Nigeria (with exogeneity restrictions)
Monetary policy and bank lending in France: are there asymmetries?
Monetary policy and bank lending in France: are there asymmetries?
Foreign trade-economic growth nexus: Evidence from Nigeria
ICT- social entrepreneurship nexus and job creation in Nigeria
Oil, environment and resource conflicts in Nigeria
Analysing oil price- macroeconomic volatility in Nigeria