Economics, Econometrics and Finance
4 years ago

Nigeria's Economy Unpredictable: Oil Price Shocks Not Major Determinant

RePEc: Research Papers in Economics
Oil price distortions and their short- and long-run impacts on the Nigerian economy
Chuku Chuku, Ekpeno L. Effiong, Ndifreke Sam

Paper Summary

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Oil price shocks have different impacts on the Nigerian economy. Linear model results show that oil price shocks do not significantly affect Nigeria's macroeconomic activity. Non-linear analysis reveals that the effects of world oil price shocks on Nigeria are asymmetric. Planning based on international oil price forecasts should be reduced in Nigeria.