Exchange Rate Volatility and Sectoral Analysis of Non-Oil Export in Nigeria
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Date
2021
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Zagreb International Review of Economics & Business,
Abstract
The paper seeks to assess the industry-based effect of exchange rate volatility on the export of non-oil sector in Nigeria. Theoretically and empirically, volatility-trade link is ambiguous. The paper employed bound test for co-integration between exchange rate volatility and exports of non-oil products. 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. 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
Description
Keywords
Volatility, Non-oil, Export, Nigeria
Citation
LO Oyelami, OM Ajeigbe (2021) Exchange Rate Volatility and Sectoral Analysis of Non-Oil Export in Nigeria, Zagreb International Review of Economics & Business, 2021