Economics, Econometrics and Finance
3 years ago

Nigerian Inflation Rate Linked to Exchange Rate and GDP Growth

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WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Long-Run Determinants of Nigerian Inflation Rate: ARDL Bounds Testing Approach
Mohamed R. Abonazel, Fuad A. Awwad, Kingdom Nwuju, Adewale F. Lukman, Ifeoma Better Lekara-Bayo, Enebi Yahaya Atanu

Paper Summary

Inflation in Nigeria is influenced by factors like exchange rate, GDP, money growth, and oil exports. A study from 2005 to 2019 found that these factors affect the inflation rate in the next quarter. Oil exports, however, do not have a significant impact. The research used the ARDL bounds testing approach to show a long-term relationship between inflation, exchange rate, and money growth.

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