Real exchange rate behaviour and non-oil export growth in Nigeria

O. Ogun
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引用次数: 28

Abstract

This study analyses the effects of real exchange rate behaviour in terms of misalignment and volatility, on the growth of non-oil exports in Nigeria. It employs two alternative measures of real exchange rate misalignment, one based on deviations from Purchasing Power Parity (PPP) and the other on a model estimate of equilibrium real exchange rate (RER). Under both frameworks, RER volatility is defined in terms of its coefficient of variations. The results show that, irrespective of the misalignment generating framework adopted, both RER misalignment and volatility adversely affect the country's non-oil export growth. However, the results under the model based approach appear to be more robust. African Journal of Economic Policy Vol. 11(1) 2004: 69-89
尼日利亚的实际汇率行为和非石油出口增长
本研究分析了实际汇率行为在偏差和波动性方面对尼日利亚非石油出口增长的影响。它采用了两种衡量实际汇率偏差的方法,一种是基于购买力平价(PPP)的偏差,另一种是基于均衡实际汇率(RER)的模型估计。在这两个框架下,RER波动率都是根据其变异系数来定义的。结果表明,无论采用何种失调产生框架,RER失调和波动性都会对该国的非石油出口增长产生不利影响。然而,基于模型的方法下的结果似乎更稳健。《中国经济研究》Vol. 11(1) 2004: 69-89
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