Manufacturing Sector Performance, Exchange Rate Volatility and Inclusive Growth In Nigeria (1981-2015)
Victoria Kenny S
MPRA Paper from University Library of Munich, Germany
The effects of the recent global economic crisis on Nigeria have reaffirmed the urgent need for the diversification of the economy. Although, no country is immune to such global crisis, the over-reliance on oil export revenue by Nigeria exposes her exchange rate and economy excessively to external shocks. Therefore, there is the need to conduct a research of this nature to examine Nigeria’s exchange rate sensitivity. This study employed Neo-Classical theory with financial intervention using Cobb Douglas growth model in assessing the impact of manufacturing productivity, exchange rate volatility on inclusive growth in Nigeria using the time series data from 1981 to 2015. The study investigates the long run agriculturally driven economic inclusive growth using Johansen Co-integration test and Normalized Co-integration. This study found out there is a long run relationship between these variables. While manufacturing sector exact more long run effect on per capita income.
Keywords: Global crisis; economic diversification and growth (search for similar items in EconPapers)
JEL-codes: E0 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-gro and nep-mac
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