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International Journal of Scientific and Research Publications

IJSRP, Volume 11, Issue 3, March 2021 Edition [ISSN 2250-3153]


9KDeterminants of Foreign Exchange Rate Volatility and Non-Oil Export in Nigeria
      Ojomolade Dele Jacob, PhD, FCIB, Adejuwon, Adewale Joshua PhD, Akinjide Akinlabi Msc
Abstract: This paper examined determinants of foreign exchange rate volatility and Non-oil Export in Nigeria. The study used time series data covering 36years (1982-2017) collected from CBN. The method of analyses used was descriptive statistics as well as co-integration analysis (ARDL)The study also employed ARCH and GARCH model to determine the presence of volatility in the exchange rate.ADF and PPT were used to test the unit roots and determine non stationarity among the variables. Autoregressive Distributed Lag and bound test used to determine long run cointegration among the dependent and independent variables. The volatility of exchange rate was determined through Autoregressive Conditional Heteroscadasticity (ARCH) and GARCH 1(1) model on the non-oil export in Nigeria. The results show that foreign exchange rate, bank rate, inflation and foreign exchange volume has a positive relationship with non-oil export, however, GDP,M2 and Government expenditure has negative coefficient and statistically insignificant. The ARCH(1)1 and ARDL model indicated exchange rate and inflation has most volatility effect on non-oil export respectively .The government should pursue a rebound policy on exchange rate stability that encourages non-oil exports.

Reference this Research Paper (copy & paste below code):

Ojomolade Dele Jacob, PhD, FCIB, Adejuwon, Adewale Joshua PhD, Akinjide Akinlabi Msc (2021); 9KDeterminants of Foreign Exchange Rate Volatility and Non-Oil Export in Nigeria; International Journal of Scientific and Research Publications (IJSRP) 11(3) (ISSN: 2250-3153), DOI: http://dx.doi.org/10.29322/IJSRP.11.03.2021.p11180
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