Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Inflation (2)
- Monetary policy (2)
- Nigeria (2)
- Central banks (1)
- Exchange rate (1)
-
- Exchange rate movement (1)
- Exchange rate pass-through (1)
- External sector (1)
- Financial sector (1)
- Fiscal policy (1)
- Foreign exchange markets (1)
- Global economy (1)
- Government finance (1)
- Inflation theory (1)
- Interest rate pass-through (1)
- Interest rates (1)
- International institutions Regional institutions (1)
- Monetary operations (1)
- Money market rates (1)
- Oil price shock (1)
- Policy rate (1)
- Price stability (1)
- Structural inflation dynamics (1)
- Vector Error Correction (1)
- Publication Type
Articles 1 - 5 of 5
Full-Text Articles in Economics
Exchange Rate And Inflation: Is There A Relationship In Nigeria, C.N.O. Mordi
Exchange Rate And Inflation: Is There A Relationship In Nigeria, C.N.O. Mordi
Economic and Financial Review
This paper attempts to examine the link between exchange rate and domestic price level in Nigeria. Employing the VAR technique, the study used monthly series of inter-bank rate, world export prices, real gross domestic product, oil prices and consumer price index from 2000MI to 2015MI. The results from the study show that exchange rate pass-through to price level is high. a shock to exchange rate (depreciation) would increase domestic price by 0.72 per cent in the first month. The effect rose to 0.82, 0.85 and 0.86 per cent in month 2,4 and 6, respectively, before it began to fall. By …
Responsiveness Of Nigeria's Short-Term Interest Rates To Changes In The Policy Rate, M. K. Tule
Responsiveness Of Nigeria's Short-Term Interest Rates To Changes In The Policy Rate, M. K. Tule
Economic and Financial Review
This paper appraises the efficacy of the Monetary Policy Rate (MPR) as an anchor for other short-term interest rates in the economy. Adopting the vector autoregression approach, the responses of Nigeria's short-term interest rates to changes in the interbank rate (proxy for MPR) was modelled. The paper found that the pass-through from MPR to money market interest rates in the long-run is higher for the prime and lending rates than for changes in the Treasury bill rate and 3-month deposit rate. Overall, there seemed to be an asymmetric impact with an increase or fall in the interbank rate.
Oil Price Shocks And Real Exchange Rate Movement In Nigeria, M. K. Tule, D. Osude
Oil Price Shocks And Real Exchange Rate Movement In Nigeria, M. K. Tule, D. Osude
Economic and Financial Review
This 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 results of GARCH (1,1) and EGARCH (1,1) suggest the persistence of volatility between real oil prices and the real exchange rate. …
An Examination Of The Structural Inflation Dynamics In Nigeria, O. J. Odonye, S. O. Odeniran, A. O. Oduyemi, O. J. Olaoye, K. J. Ajayi
An Examination Of The Structural Inflation Dynamics In Nigeria, O. J. Odonye, S. O. Odeniran, A. O. Oduyemi, O. J. Olaoye, K. J. Ajayi
Economic and Financial Review
This study examines the dynamics of inflation in Nigeria, including the structural evolution as well as the direction of its movement with a view to designing appropriate policy measures to rein in the inflationary pressures. The study utilized quarterly data from 1970(1) to 2013 (4) except for Bureau de Change (BDC) premium where the duration was 1991(1) to 2013 (4) based on Auto Regressive Distributed Lag (ARDL) model. The results show that structural factors like budget deficit, rainfall, variation in export, exchange rate premium have profound influence on movement in CPI in Nigeria during the period.
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria
Central Bank Of Nigeria Annual Report And Statement Of Accounts For The Year Ended 31st December 2014, Central Bank Of Nigeria
CBN Annual Report
Annual Report and Financial Statements of the Central Bank of Nigeria (CBN) for the year ended 31st December, 2014. In general, 2014 has been a very eventful and challenging year for the Bank, the country, and the world at large. In the course of the year, the Bank underwent significant changes in its governance composition. In 2014, the global economy witnessed considerable vulnerabilities characterized by fragile growth and weak economic outlook. Global growth recovery was modest and continued to be threatened by strong downside risks, as a result of sharp drop in commodity prices, escalating geo-political tensions, and heightening threats …