Real exchange rate movements and export growth: Nigeria, 1960 - 1990

Oluremi Ogun

Working Papers from African Economic Research Consortium

Abstract: This report analyses the effects of real exchange rate(RER) movements (defined in terms of misalignment and volatility) on the growth of non-oil exports in Nigeria over the Period 1960a-1990. RER is defined as the relative price of tradeable to non-tradeable, and RER misalignments are derived using a model based approach and the purchasing power parity(P) approach. Under both frameworks, RER volatility is defined in terms of the coefficient of variations of the RER. The results show that irrespective of the misalignment generating framework adopted, both RER misalignment and volatility adversely affected the country's non-oil export growth. However, the results under the model based approach a pear to be relatively more credible.

Date: 1998-10
Note: African Economic Research Consortium
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