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3ZB97
This paper analyzed macroeconomic fluctuations and economic growth in Nigeria between 1986 and 2014. The paper employed the Atheoretical Statistical Method of Analysis using cross correlations to examine the co-movement between key macroeconomic variables such as broad money supply, oil price, government expenditure, inflation, interest rate, exchange rate and general household consumption and real gross domestic product in Nigeria. Quarterly time series data between 1986 and 2014 was used for the study and were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin. The stationary component of the variables was extracted using the Hodrick-Prescott (HP) and Band-Pass (BP) filter and then analyzed. The paper found out that all the macroeconomic variables were countercyclical and contemporaneously related to real gross domestic product, except for oil price and inflation where the filters produced mixed results of countercyclical and procyclical relationship with economic growth in Nigeria. The paper suggests effective and better management of macroeconomic variables if the desired level of growth is to be achieved.
Oladotun Olaniran. 2017. \u201cAnalysis of Macroeconomic Fluctuations and Economic Growth in Nigeria (1986-2014)\u201d. Global Journal of Human-Social Science - E: Economics GJHSS-E Volume 17 (GJHSS Volume 17 Issue E5): .
Crossref Journal DOI 10.17406/GJHSS
Print ISSN 0975-587X
e-ISSN 2249-460X
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Total Score: 102
Country: Nigeria
Subject: Global Journal of Human-Social Science - E: Economics
Authors: Olaniran Oladotun Daniel, Olawoye Olaniran (PhD/Dr. count: 0)
View Count (all-time): 153
Total Views (Real + Logic): 3299
Total Downloads (simulated): 1734
Publish Date: 2017 11, Fri
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This paper analyzed macroeconomic fluctuations and economic growth in Nigeria between 1986 and 2014. The paper employed the Atheoretical Statistical Method of Analysis using cross correlations to examine the co-movement between key macroeconomic variables such as broad money supply, oil price, government expenditure, inflation, interest rate, exchange rate and general household consumption and real gross domestic product in Nigeria. Quarterly time series data between 1986 and 2014 was used for the study and were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin. The stationary component of the variables was extracted using the Hodrick-Prescott (HP) and Band-Pass (BP) filter and then analyzed. The paper found out that all the macroeconomic variables were countercyclical and contemporaneously related to real gross domestic product, except for oil price and inflation where the filters produced mixed results of countercyclical and procyclical relationship with economic growth in Nigeria. The paper suggests effective and better management of macroeconomic variables if the desired level of growth is to be achieved.
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