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Assessing the Impact of Nigeria's Naira Depreciation on Output and Inflation

Anthony Akinlo and Ayodele Odusola

No 307333, UNDP Africa Economists Working Papers from United Nations Development Programme (UNDP)

Abstract: empirical evidence in support of the argument that keeping real exchange rate persistently devalued may lead to a permanent higher level of inflation have been provided (Kamin, 1985; Calvo et al. 1994). However, probably because of the relatively recent origin of serious exchange rate depreciation in sub-Saharan Africa countries especially Nigeria, when compared with other regions e.g. Latin America and Asia, not many studies have been reported on the subject. The existing studies on effect of persistent exchange-rate depreciation in Nigeria are based on either regression or simulation approach rather than VAR approach. This present study intends to fill these gaps by not only focusing the study on Nigeria but also adopting restricted vector Autoregressive model thereby providing basis for comparison with existing results obtained for other countries.

Keywords: International; Development (search for similar items in EconPapers)
Pages: 15
Date: 2003-02
New Economics Papers: this item is included in nep-mon
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DOI: 10.22004/ag.econ.307333

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