Browsing by Author "FAGBOYO, Rachel Jolayemi"

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    Exchange rate dynamics, trade openness and indusstrial productivity in Nigeria (1986-2019)
    (Department of Economics, Faculty of Social Science, Obafemi Awolowo University., 2022) FAGBOYO, Rachel Jolayemi
    The study analysed the trends of exchange rate and industrial productivity in Nigeria (1986 - 2019). It also determined the dynamic interaction among exchange rate, trade openness and industrial productivity in Nigeria within the period. It also investigated the effects of exchange rate dynamics and trade openness impacts on industrial productivity in Nigeria in the study period. These were with a view to examine the relationship among exchange rate dynamics, trade openness and industrial productivity. Descriptive survey research design was adopted and annual secondary data between 1986 and 2019 were employed. Data on industrial productivity, exchange rate dynamics, trade openness, inflation rate, exchange rate, private sector credit, interest rate and real gross domestic product (GDP) were obtained from the annual publications of Central Bank of Nigeria Statistical Bulletin, 2019 edition and World Bank Development Indicators, 2019. Data were analysed using descriptive statistics, inferential statistics Vector Autoregressive and Fully Modified Ordinary Least Square Methods. The results showed that exchange rate is highly unstable in the system and industrial productivity witnessed a rise and a fall throughout the period under study. In addition, the results on the effect of exchange rate dynamics and trade openness on industrial productivity revealed a negative effect of exchange rate dynamics on industrial productivity in the long run (t = 2.34; p < 0.05). This implies that exchange rate dynamics exert a negative influence on industrial productivity and trade openness increases industrial productivity. Lastly, the results showed that private sector credit and real gross domestic have positive impact on industrial productivity in Nigeria (t = 15.39; p < 0.05) (t = 17.47; p< 0.05). xiii The study concluded that there was a positive relationship between trade openness and industrial productivity, and a negative relationship between exchange rate dynamics and industrial productivity in Nigeria.