ISSN: 2168-9458
+44 1223 790975
Department of Economics, Augustine University, Lagos State, Nigeria
Research Article
The Effect of Exchange Rate Fluctuation on the Performance of the Manufacturing Sector in Nigeria (1990-2020)
Author(s): Oyedepo Elizabeth Omolola*, Rasaki G.M and Addo G.O
This study examined the effects of exchange rate fluctuation on Nigeria's manufacturing sector for the period between 1990 to 2020. Annual time series data were obtained from world development indicators and central bank of Nigeria statistical bulletin. Autoregressive Distributed Lag model (ARDL) was employed for the data analysis and the long and short run forms provided optimal estimates of the co-integrating regression. Explanatory variables specified for the model were Manufacturing Capacity Utilization (MACU), Exports (EXP), Raw Material Imports (IMP), Exchange Rate Fluctuations (EXRF), Exchange Rate (EXCR), Interest rate (INT) and Inflation Rate (INFR). The results of the analysis revealed that the model was of good fit with an adjusted R2 value of 96%. The ARDL model revealed a long run relationship among the variables and further reveals that (EXRF) and (IMP) ha.. View More»
DOI:
10.35248/2168-9458.23.10.235