The Dynamics of Exchange Rate Movements and Economic Growth in Nigeria: Does the Mundell–Fleming Model Stand?
Abstract:The purpose of this study is to examine if exchange rate fluctuations have an impact on Nigeria's economic performance using annual time series spanning from 1986 to 2020. The Generalised Autoregressive Conditional Heteroscedasticity (GARC) model was used as the study's analytical technique. The result shows that in the longrun, exchange rate depreciation, inflation and the monetary policy rate have a significant long-term impact on the nation's economic performance. By implication, the Naira/USD exchange rate… Show more
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