Please use this identifier to cite or link to this item: http://library.cbn.gov.ng:8092/jspui/handle/123456789/471
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dc.contributor.authorTule, Moses K.-
dc.contributor.authorOsude, D.-
dc.date.accessioned2018-10-23T10:48:37Z-
dc.date.available2018-10-23T10:48:37Z-
dc.date.issued2014-03-
dc.identifier.citationTule, M. K. & Osude, D. (2014). Oil price shocks and real exchange rate movement in Nigeria, Economic and Financial Review (EFR), 52(1), 29-45.en_US
dc.identifier.issn1957-2968-
dc.identifier.urihttp://library.cbn.gov.ng:8092/jspui/handle/123456789/471-
dc.description.abstractThis paper investigated the relationship between oil price and real exchange rate movement in Nigeria. Crude oil exports account for over 90 per cent of Nigeria's foreign exchange earnings hence, the economy may be vulnerable to instability in international oil prices, which the country as a small open economy, cannot influence. Using monthly data covering the period 2000 to 2013, this study employs GARCH process to test the relationship between oil price and exchange rate volatility in Nigeria. The result of GARCH (1, 1) and EGARCH (1, 1) suggest the persistence of volatility between real oil prices and the real exchange rate. The Smooth Transition Regression (STR) results also show the expected reaction from the exchange rate following changes in oil prices. Thus, we conclude that oil price fluctuations lead exchange roles movement in Nigeria.en_US
dc.description.sponsorshipCentral Bank of Nigeriaen_US
dc.language.isoenen_US
dc.publisherCentral Bank of Nigeria, Research Department.en_US
dc.relation.ispartofseriesVol. 52;No. 1-
dc.subjectOil price shocksen_US
dc.subjectReal exchange rateen_US
dc.subjectCrude oil exportsen_US
dc.subjectOil pricesen_US
dc.titleOil price shocks and real exchange rate movement in Nigeriaen_US
dc.typeArticleen_US
Appears in Collections:Economic and Financial Review

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