Current Volume 8
Abstract
This study investigated, empirically the effect of exchange rate policy on non-oil export in Nigerian economy 1981-2021. Ordinary least square (OLS) method of data analysis was adopted. The data used were sourced from Central Bank of Nigeria Statistical Bulletin. The variables were on non-oil export as the dependent variable, while trade openness, exchange rate and money supply as the independent variables. The study employed unit root test to determine the stationarity of the variables, co-integration approach to determine the long-run equilibrium relationship of the model and error correction model to correct the error of the model. From the model it was discovered trade openness has significant impact on non oil export in Nigeria. Exchange rate sector has significant impact on non oil export in Nigeria. Money supply has significant impact on non oil export in Nigeria .The study recommends that foreign exchange control should be adopted to determine appropriate exchange rate value. Government should adopt selective credit control to channel funds to the productive sectors of the economy. Restrictive policy is also recommended to reduce pressure on foreign currency.
Keywords
non-oil export, trade openness, exchange rate, money supply, Ordinary least square
Citations
IRE Journals:
Nkiru Patricia CHUDE , Daniel Izuchukwu CHUDE
"Effect of Exchange Rate Policy on Non-Oil Export in Nigerian Economy" Iconic Research And Engineering Journals Volume 6 Issue 9 2023 Page 127-136
IEEE:
Nkiru Patricia CHUDE , Daniel Izuchukwu CHUDE
"Effect of Exchange Rate Policy on Non-Oil Export in Nigerian Economy" Iconic Research And Engineering Journals, 6(9)
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