EXCHANGE RATE AND ECONOMIC GROWTH IN NIGERIA

Godwin Anaezichukwuolu, Ani and UDEH, Sergius Nwannebuike (2021) EXCHANGE RATE AND ECONOMIC GROWTH IN NIGERIA. Advance Journal of Management and Social Sciences, 5 (5). pp. 18-26. ISSN 2383 – 6355

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Abstract

This paper examined the effect of exchange rate on the economic growth of Nigeria. It specifically looked at effect of exchange rate on gross domestic product (GDP), gross national product (GNP) and unemployment. Secondary data from the Central Bank of Nigeria Statistical Bulletin were collected for a period of ten years, 2009 to 2018. Ex-post facto research design was utilized. While some diagnostic tests were carried out to confirm the integrity of the data and their relatedness in both short and long term basis, Ordinary Least Square technique was employed in the analysis of hypotheses. It was found that while exchange rate had significant effect on GDP and GNP, it was non�significant on unemployment. This implies that micro economic indices of GDP and GNP could be used to consciously adjust standard of living of the citizens. The study concludes that exchange rate should be handled with utmost concern by experts in the field to avoid unnecessary fluctuations that may inflict unbearable economic consequences on the Nigerian people. The study recommends, among others, the adoption of policies that will affect GDP in such a way that the welfare of the people can be upgraded.

Item Type: Article
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 08 Mar 2022 08:36
Last Modified: 08 Mar 2022 08:36
URI: http://eprints.gouni.edu.ng/id/eprint/3468

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