ALADELUSI, KEHINDE B (2020) EXCHANGE RATE FLUCTUATION AND BALANCE OF PAYMENT IN NIGERIA. Journal of Management and Technology (JORMATECH), 6 (1). pp. 1-8. ISSN 117-1847
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Abstract
This study investigated the impact of exchange rate fluctuation on balance of payment in Nigeria within the period of 1990 to 2016. An econometric model was formed for this study which was used to evaluate the relationship between the independent variables exchange rate, interest rate and inflation rate and the dependent variable balance of payment. The data were sourced from the CBN Statistical Bulletin 2016.The use of Ordinary Least Square was most appropriate for the study in terms of goodness of fit and significance of regression coefficient. The outcome of the analysis revealed Exchange rate has a positive effect on balance of payment but statistically insignificant with balance of payment. Inflation rate has negative effect on balance of payment and statistically insignificant. Interest rate has negative effect on balance of payment but statistically significant at 5%level of significance. The study concludes that exchange rate has a significant effect on balance of payment. Therefore, it was recommended that Nigeria economy should be diversified to reduce dependence oil. The agricultural and solid minerals sectors should be harnessed to complement inflows from oil sector.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Unnamed user with email [email protected] |
| Date Deposited: | 03 Jun 2021 09:20 |
| Last Modified: | 03 Jun 2021 09:20 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/1471 |
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