FOREIGN RESERVES ACCUMULATION AND MACROECONOMIC ENVIRONMENT: THE NIGERIAN EXPERIENCE (2004-2014)

Akaninyene Udo AKPAN

Makale detayları

FOREIGN RESERVES ACCUMULATION AND MACROECONOMIC ENVIRONMENT: THE NIGERIAN EXPERIENCE (2004-2014)

Yazarlar:

Akaninyene Udo AKPAN

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2016 Vol.8 Issue 1, pp.26-47

Belge Tipi:

Makale

Yayın Tarihi:

5/2016

Belge Dili:

Türkçe

Document ID (Org No.):

2000810904

Sıklık:

İki Yıllık

eISSN:

1309-8055

Özet:

 

This study examines the impact of Nigeria’s foreign reserves accumulation on
 macroeconomic environment. Seven macroeconomic variables were selected to
 represent macroeconomic environment (GDP, inflation, exchange rate and
 unemployment, investment, external debt and total trade). Data were sourced from
 the Central Bank of Nigeria’s Statistical Bulletin between 2004 and 2014. The
 ordinary least square (OLS) econometric model was employed in the analysis of
 the data. The study conducted the unit root test using both the Augmented DickerFuller
 and Philip Perron with and without trend and the result showed that all
 variables were stationary at first difference except inflation. The cointegration
 result obtained from the analysis showed the existence of a long run relationship
 between foreign reserves and the explanatory variables. The paper concludes that
 foreign reserve is a necessary tool in the macroeconomic stability of the country.
 It recommended that government should adopt proper and well articulated
 strategies of managing the nation’s reserve in order to achieve the desired
 objectives.

Makale detayları

FOREIGN RESERVES ACCUMULATION AND MACROECONOMIC ENVIRONMENT: THE NIGERIAN EXPERIENCE (2004-2014)

Yazarlar: Akaninyene Udo AKPAN

Yayıncı: Sosyal Bilimler Araştırmaları Derneği

Dergi: International Journal of Economics and Finance Studies 2016 Vol.8 Issue 1, pp.26-47

Belge Tipi: Makale

Yayın Tarihi: 5/2016

Belge Dili: Türkçe

Document ID (Org No.): 2000810904

Sıklık: İki Yıllık

eISSN: 1309-8055

Sayı

Yazarlar:

Akaninyene Udo AKPAN

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2016 Vol.8 Issue 1, pp.26-47

Belge Tipi:

Makale

Yayın Tarihi:

5/2016

Belge Dili:

Türkçe

Document ID (Org No.):

2000810904

Sıklık:

İki Yıllık

eISSN:

1309-8055