GSTDTAP  > 气候变化
DOI10.1016/j.enpol.2018.03.071
Oil price and USD-Naira exchange rate crash: Can economic diversification save the Naira?
Alley, Ibrahim
2018-07-01
发表期刊ENERGY POLICY
ISSN0301-4215
EISSN1873-6777
出版年2018
卷号118页码:245-256
文章类型Article
语种英语
国家Nigeria
英文摘要

Naira lost half of its foreign exchange value in less than two years following 2014 oil price crash, and has not recovered despite numerous government's attempts. This study thus evaluated the potential of economic diversification (proxied by non-oil export performance) in saving the Naira by analysing a nexus between oil price, exchange rate and nonoil export. Estimation of a rearranged current account equation within Autoregressive Distributed Lag (ARDL) and Vector Autoregressive (VAR) models, using monthly data from January 2008 to December 2015 yielded the following results. There is a direct relationship between oil price and exchange rate, and this affirms that sharp decline in the former induced the latter's deterioration. Increase in non-oil exports led to appreciation of USD-Naira exchange rate both in the short run and the long run. Import, on the other hand, induced depreciation of the exchange rate in the long run. Diversification, by increasing export revenue and reducing import bills, therefore has a great potential to improve the value of Naira.


英文关键词Oil price Exchange rate Economic diversification ARDL model VAR model
领域气候变化
收录类别SCI-E ; SSCI
WOS记录号WOS:000435050000023
WOS关键词SUB-SAHARAN AFRICA ; RATE VOLATILITY ; INDUSTRIAL DIVERSIFICATION ; GROWTH ; SHOCKS ; IMPACT ; TRADE ; CHINA
WOS类目Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies
WOS研究方向Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology
引用统计
文献类型期刊论文
条目标识符http://119.78.100.173/C666/handle/2XK7JSWQ/18048
专题气候变化
作者单位NDIC, Res Policy & Int Relat Dept, Abuja, Nigeria
推荐引用方式
GB/T 7714
Alley, Ibrahim. Oil price and USD-Naira exchange rate crash: Can economic diversification save the Naira?[J]. ENERGY POLICY,2018,118:245-256.
APA Alley, Ibrahim.(2018).Oil price and USD-Naira exchange rate crash: Can economic diversification save the Naira?.ENERGY POLICY,118,245-256.
MLA Alley, Ibrahim."Oil price and USD-Naira exchange rate crash: Can economic diversification save the Naira?".ENERGY POLICY 118(2018):245-256.
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