Econometric Analysis of Effect Of Import of Oil And Some Other Economic Indicators on Stability of Exchange Rate Using Simultaneous Equation

Dr. O.D. OGUNWALE

Econometric Analysis of Effect Of Import of Oil And Some Other Economic Indicators on Stability of Exchange Rate Using Simultaneous Equation

Dr. O.D. OGUNWALE * §

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EKITI STATE UNIVERSITY, ADO-EKITI, NIGERIA

Econometric Analysis of Effect Of Import of Oil And Some Other Economic Indicators on Stability of Exchange Rate Using Simultaneous Equation

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5601C

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Abstract

This paper considers the use of econometric techniques in estimating some of the economic indicators in Nigeria. A time series data was collected on yearly basis from 1974-2006, giving a total of 33years. Simultaneous equation model was used in estimating the stability of exchange rate. The various factors considered as affecting stability of exchange rate are imports of oil, gross domestic product, inflation rate and Total expenditure on Agriculture. From the result, it was gathered that Total expenditure on Agriculture is a good predictor of exchange rate, i.e. it contributes to the stability of a country’s exchange rate. Based on the findings, necessary recommendations were made for possible solution on how to enhance stability of exchange rate. Based on the findings, necessary recommendations were made for possible solution on how to enhance stability of exchange rate.

Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Dr. O.D. OGUNWALE. 1970. "Econometric Analysis of Effect Of Import of Oil And Some Other Economic Indicators on Stability of Exchange Rate Using Simultaneous Equation". Global Journal of Science Frontier Research - F: Mathematics & Decision GJSFR-F Volume 11 (GJSFR Volume 11 Issue F7).

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GJSFR Volume 11 Issue F7

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Journal Specifications

Crossref Journal DOI 10.17406/GJSFR

Print ISSN 0975-5896

e-ISSN 2249-4626

Keywords

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Classification

GJSFR-F Classification FOR Code: 010499

Submission ReceivedAugust 12, 2011
Peer Review Double Blind
Handling Editor
Accepted September 7, 2011
Published September 21, 2011

Version of record

v1.2

Language

English

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Article Matrices

Total Score: 153

Country: Nigeria

Subject: Global Journal of Science Frontier Research

Authors: Dr. O.D. OGUNWALE, R.A. ADELEKE,A.O. OLUBIYI ,D.O. OWOSENI (PhD/Dr. count: 1)

View Count (all-time): 187

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Publish Date: 2011 09, Wed

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Total Views: 7.8K

Total Downloads: 682

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