+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

Effect of Oil Price Fluctuations on Economic Growth in Nigeria

  • Type:Project
  • Pages:78
  • Format:Microsoft Word
(Economics Project Topics & Materials)

For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

ABSTRACT
The study evaluated the effects of oil price fluctuations on economic growth in Nigeria. The industrial production index was used as a proxy for gross domestic product that served as a function of oil price, exchange rate and interest rate that are the explanatory variable. The research made used of secondary time series data, The data on industrial production index, exchange rate and interest rate were obtained from the Central Bank of Nigeria Statistical Bulletin while that of oil price were obtained from the United States Energy Information Administration (EIA) from 1986:Q1-2016:Q4 The unit root test was done via ADF test, Phillip Perron test. The study further adopts the NARDL Bounds co integration test since the series are fractionally integrated i.e. integrated of different orders and the result showed that there is a long run relationship between industrial production and the explanatory variables. In the short-run, the study found out that rise in price and interest rates are positively related to growth while fall in oil price and exchange rate are negatively related to growth. The result also showed that the short-run relationships are maintained even in the long-run although with increased magnitude of effects. Furthermore, the Wald Coefficient Restriction test was conducted and the result indicates that there is no asymmetric effect on the oil price-growth nexus. Hence, oil price is said to have a symmetric effect on the Nigeria economic growth.
Keywords: Oil price; Nigeria; Economic growth; NARDL.

Effect of Oil Price Fluctuations on Economic Growth in Nigeria
For more Info, call us on
+234 8130 686 500
or
+234 8093 423 853

Share This

Details

Type Project
Department Economics
Project ID ECO0584
Price ₦3,000 ($20)
No of Pages 78 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Economics
    Project ID ECO0584
    Price ₦3,000 ($20)
    No of Pages 78 Pages
    Format Microsoft Word

    Related Works

    This study was conducted to examine the effect of oil price fluctuations on the price of selected agricultural commodities in Nigeria using time series data sourced from Central Bank website, United States Energy Information Administration (E.I.A) website and Food and Agricultural Organization Statistics (FAOSTAT) between January 2000 and December... Continue Reading
    ABSTARCT Nigeria is still largely dependent on crude oil to satisfy its oil needs since crude oil is animportant part of her economy. This dependency on crude oil triggers most macroeconomicindicators such as inflation to react to fluctuations in the world price of oil, making the economyvulnerable to fluctuations in the world oil price. This... Continue Reading
    CHAPTER ONE Introduction Background of the Study Exchange rate is the price of one country’s currency expressed in terms of some other currency. It determines the relative prices of domestic and foreign goods, as well as the strength of external sector participation in the international trade. Exchange rate regime and interest rate remain... Continue Reading
    The Impact Of Oil Price Changes On The Economic Growth Of Nigeria ABSTRACT    This study examines the impact of oil price changes on the economics growth of Nigeria; this explains that the changes have a negative impact on the GDP (Gross Domestic   Product). This change is also known as price volatility. An economic analysis was employed using... Continue Reading
    CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The recent devaluation of the Nigerian currency (the naira) by the apex bank against the background of falling crude oil prices at the international market has generated renewed interest of... Continue Reading
    ABSTRACT Oil as natural resource is an important commodity that has been recognized all over the world due to its impact in the industrial and commercial sectors of the world’s economy. Nigeria is highly recognized as an oil exporting and importing country. This study examines the... Continue Reading
    ABSTRACT This research work was conducted to ascertain the effect of share price volatility on the economic growth of Nigeria. The research used series of test such as the unit root test that was used to test for stationarity, the co-integration test  was used to check for the long run and short run relationship between the variables, and the... Continue Reading
    ABSTRACT This study is motivated by a desire to examine oil price volatility and Nigerian economic growth. In light of the empirical review and other discussions, a number of questions arose as to whether there is significant relationship between oil price volatility and economic growth. Using the... Continue Reading
    ABSTRACT This work is an overview of the effect of oil price volatility on economy growth in Nigeria using per capital Income as deciding factor.... Continue Reading
    ABSTRACT This work is an overview of the effect of oil price volatility on economy growth in Nigeria using per capital Income as deciding factor.... Continue Reading
    Call Us
    Get this work
    whatsappWhatsApp Us