Effect Of Oil Price Fluctuations On Nigeria's Monthly Inflation Rate

Agbo, Elias Igwebuike (2020) Effect Of Oil Price Fluctuations On Nigeria's Monthly Inflation Rate. Scholars Journal of Economics, Business and Management, 7 (12). pp. 406-415. ISSN 2348-5302

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Abstract

This paper examined the effect of oil price changes on Nigeria’s monthly inflation rate using a nonlinear autoregressive distributed lag nonlinear autoregressive distributed lag framework. Ex-post facto research design was employed. The data comprised a Brent spot series and monthly inflation rates for the period from January 1997 to August 2020.. The results suggest that both positive and negative movements in oil prices have negative and non- significant effects on Nigeria’s inflation rate and the absence of asymmetric effects between the variables. To enable the monetary authority achieve lower inflation target, the study recommends the formulation and implementation of counter-cyclical fiscal policies and effectively binding fiscal rules.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 04 Oct 2021 08:05
Last Modified: 04 Oct 2021 08:05
URI: http://eprints.gouni.edu.ng/id/eprint/3185

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