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Effects of Exchange Rate on Imports ...

Taofeekat, Sulaimon Temitope.

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Effects of Exchange Rate on Imports Demand in Nigeria.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Effects of Exchange Rate on Imports Demand in Nigeria./
Author:	Taofeekat, Sulaimon Temitope.
Published:	Ann Arbor : ProQuest Dissertations & Theses, : 2019,
Description:	148 p.
Notes:	Source: Masters Abstracts International, Volume: 81-04.
Contained By:	Masters Abstracts International81-04.
Subject:	Economics. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=13901116
ISBN:	9781085675604

Effects of Exchange Rate on Imports Demand in Nigeria.
Taofeekat, Sulaimon Temitope.

Effects of Exchange Rate on Imports Demand in Nigeria. - Ann Arbor : ProQuest Dissertations & Theses, 2019 - 148 p.

Source: Masters Abstracts International, Volume: 81-04.

Thesis (M.S.)--Kwara State University (Nigeria), 2019.

This item must not be sold to any third party vendors.

Imports have been identified as a major factor in the economic growth and development. However, over reliance on importation has resulted in the continued low capacity utilization and low production of Nigeria-based companies and industries, resulting in high unemployment in the country and a huge demand for foreign exchange. So as to provide bases for policies aimed at promoting certain categories of import (capital and intermediate goods) and discouraging excessive importation, various empirical studies have been conducted with a view to identifying factors that affect import demand in Nigeria. But such studies still leave some gaps to be filled, including failure to test for a sufficiently comprehensive list of import determining factors and failure to take into consideration disaggregated imports in the light of the unstable exchange rate. Accordingly, this study seeks to fill the knowledge gap that exists. Thus, the study has the specific objectives of investigating empirically the effect of exchange rate and other factors that affect Nigeria's aggregate and disaggregated imports from 1981-2017 and to determine which of foreign reserves availability and export receipts poses a greater constraint on capacity to import in Nigeria. The data for this study were obtained from secondary sources, which are the World Bank's World Integrated Trade Statistics and the Central Bank of Nigeria's Statistical Bulletin. To examine the time series features of the data, the study carried out unit root test, using the Augmented Dickey Fuller (ADF) method, through which it was discovered that none of the variables was stationary at the level form. Consequently, the Engle-Granger co-integration test methodology was used to analyse the long-run relationship among the non-stationary variables. The result shows that no long-run relationship exists among the non-stationary series. As a result, the regression analyses were carried out using the Autoregressive Distribute Lag (ARDL) method to analyse the effects of exchange rate and other factors on the aggregate and disaggregated imports in Nigeria. The findings are that: real GDP per capita has a positive effect on aggregate and disaggregated import demand; tariff rate has no effect on aggregate and disaggregated import demand with the exception of real import of consumer goods per capita; and real foreign reserves per capita has no effect on aggregate and disaggregated import demand with the exception of real import of oil and intermediate goods per capita, unlike export receipt that haspositive effects on aggregate and disaggregated import demand.Lastly, real effective exchange rate appreciation has a positive effect on aggregate and disaggregated import demand. Based on these findings, the study recommends that expenditure reducing/ switching policy can work in curtailing import demand, selective policies to promote desirable goods and reduce undesirable goods can also work and also, since export receipts serve as the major constraint on capacity to import when compared to foreign reserves, future researchers should take cognisance of it in their models.

ISBN: 9781085675604Subjects--Topical Terms:

517137
Economics.
Subjects--Index Terms:

Augmented dickey fuller

Effects of Exchange Rate on Imports Demand in Nigeria.
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300 $a 148 p.
500 $a Source: Masters Abstracts International, Volume: 81-04.
500 $a Advisor: Odedokun, Matthew.
502 $a Thesis (M.S.)--Kwara State University (Nigeria), 2019.
506 $a This item must not be sold to any third party vendors.
520 $a Imports have been identified as a major factor in the economic growth and development. However, over reliance on importation has resulted in the continued low capacity utilization and low production of Nigeria-based companies and industries, resulting in high unemployment in the country and a huge demand for foreign exchange. So as to provide bases for policies aimed at promoting certain categories of import (capital and intermediate goods) and discouraging excessive importation, various empirical studies have been conducted with a view to identifying factors that affect import demand in Nigeria. But such studies still leave some gaps to be filled, including failure to test for a sufficiently comprehensive list of import determining factors and failure to take into consideration disaggregated imports in the light of the unstable exchange rate. Accordingly, this study seeks to fill the knowledge gap that exists. Thus, the study has the specific objectives of investigating empirically the effect of exchange rate and other factors that affect Nigeria's aggregate and disaggregated imports from 1981-2017 and to determine which of foreign reserves availability and export receipts poses a greater constraint on capacity to import in Nigeria. The data for this study were obtained from secondary sources, which are the World Bank's World Integrated Trade Statistics and the Central Bank of Nigeria's Statistical Bulletin. To examine the time series features of the data, the study carried out unit root test, using the Augmented Dickey Fuller (ADF) method, through which it was discovered that none of the variables was stationary at the level form. Consequently, the Engle-Granger co-integration test methodology was used to analyse the long-run relationship among the non-stationary variables. The result shows that no long-run relationship exists among the non-stationary series. As a result, the regression analyses were carried out using the Autoregressive Distribute Lag (ARDL) method to analyse the effects of exchange rate and other factors on the aggregate and disaggregated imports in Nigeria. The findings are that: real GDP per capita has a positive effect on aggregate and disaggregated import demand; tariff rate has no effect on aggregate and disaggregated import demand with the exception of real import of consumer goods per capita; and real foreign reserves per capita has no effect on aggregate and disaggregated import demand with the exception of real import of oil and intermediate goods per capita, unlike export receipt that haspositive effects on aggregate and disaggregated import demand.Lastly, real effective exchange rate appreciation has a positive effect on aggregate and disaggregated import demand. Based on these findings, the study recommends that expenditure reducing/ switching policy can work in curtailing import demand, selective policies to promote desirable goods and reduce undesirable goods can also work and also, since export receipts serve as the major constraint on capacity to import when compared to foreign reserves, future researchers should take cognisance of it in their models.
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653 $a Imports
653 $a Nigeria
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690 $a 0293
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710 2 $a Kwara State University (Nigeria). $b College of Humanities, Management and Social Sciences. $3 3434097
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