Please use this identifier to cite or link to this item: http://library.cbn.gov.ng:8092/jspui/handle/123456789/544
Title: Empirical estimation of optimal International reserves for Nigeria: the sudden stop model
Authors: Sanni, G.K.
Olusegun, T.S.
Sani, Z.
Keywords: Optimum reserves
Sudden stop
Capital flow
Foreign currency deposits
Nigeria
Issue Date: Mar-2016
Publisher: Central Bank of Nigeria, Research Department
Citation: Sanni, G.K., Olusegun, T.S., & Sani, Z. (2016) . Empirical estimation of optimal international reserves for Nigeria: the sudden stop model. Economic and Financial Review. 54(1). 1-23.
Series/Report no.: Vol. 54;No.1
Abstract: The study examined the issue of optimum external reserves for Nigeria during 2010 - 2014, using Jeanne and Ranciere (2006) and Goncalves (2007) sudden stop model approach. The study showed that resident foreign currency deposit accounted for over 90 per cent of the total foreign currency deposit, while non-resident foreign currency deposit accounted for the remaining. The result of the model suggested that external reserves were adequate in 2010 but beyond that period, it was far below optimal level. On average, the optimum external reserves were around 15.7 per cent of GDP in the past four years, translating to US$54.52 billion.
URI: http://library.cbn.gov.ng:8092/jspui/handle/123456789/544
ISSN: 1957 - 2968
Appears in Collections:Economic and Financial Review

Files in This Item:
File Description SizeFormat 
Non-oil revenue buoyancy and elasticity.pdf4.16 MBAdobe PDFView/Open


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

Admin Tools