Assessment of Long Run Relationship between Exchange Rate and Manufacturing Sector's Output: Evidence from Nigeria
Keywords:
manufacturing output, manufacturing capacity utilization, exchange rate
Abstract
The main aim of this research is to examine the relationship between exchange rates and manufacturing output in Nigeria. The research paper made use of secondary data in reaching the objectives of this research work. Data were sourced mainly from Central Bank of Nigeria (CBN) Statistical Bulletin, CBN Statement of Accounts and Annual Reports, and the Nigerian Bureau of Statistics publications. The variables for which data are sourced include: manufacturing output, manufacturing capacity utilization, exchange rate, government expenditure, inflation rates and interest rate for the period 1980 to 2020. The result of the regression estimate showed that Exchange rate and government expenditure on manufacturing sector variables has a positive and significant impact on manufacturing productivity, while consumer price index and manufacturing capacity utility rate variables has a negative and significant impact on manufacturing productivity but interest rate, has negative and insignificant impact on manufacturing productivity during the study period.
Downloads
How to Cite
References
T Ayodele (2014) Impact of Real Exchange Rate Misalignment on Economic Growth in Nigeria. 5(8), 25-28.
(1986) Foreign exchange Management before.
E Dada, O Oyeranti (2012) Effects of Macroeconomic Variables on Exchange Rate in Ghana. 3(2), 93.
G Douglas, V Jike (2005) Policy Reforms and Manufacturing Exports in Nigeria.
M Jhingan (2011) The economics of development and planning. 40.
E Lawal (2016) Exchange Rate Fluctuations and Economic Performance of Manufacturing Sector: Evidence from Nigeria. 4(10).
Anikeze Hillary, Chukwu Emmanuella, Nwofor C. (1994) Exchange Rate Unification Policy and Economic Stability on South East Nigeria. 11(2), 11-24.
I Obadan The Impact of External Sector Policies on Nigeria's Economic Development. 34(4).
P Obaseki (2001) Issues in Exchange Rate Policy Design and Management. 39(2), 1-28.
M Ojo (1990) OIL WEALTH ILLUSION AND PROBLEMS FOR ECONOMIC AND FINANCIAL MANAGEMENT IN NIGERIA. 6(2), 210-225.
P Okigbo (1993) Essays in Public Philosophy of Development.
D Opaluwa, J Umeh, A Abu (2010) The Effect of Exchange Rate Fluctuation on the Nigerian Manufacturing Sector. 4(14), 2994-2998.
J Sanusi (2002) Randall Hinshaw Memorial Lecture: Exchange Rate Policy in Latin America. 11-16.
Published
2021-02-26
Issue
Section
License
Copyright (c) 2021 Authors and Global Journals Private Limited
This work is licensed under a Creative Commons Attribution 4.0 International License.