Growth and Oil Price Fluctuation in Nigeria: A Variance Decomposition Evidence

Umoru, David and Onimawo, Janet Achikare (2017) Growth and Oil Price Fluctuation in Nigeria: A Variance Decomposition Evidence. International Journal of Social Sciences and Educational Studies, 4 (1). pp. 1-11. ISSN 24091294

[img]
Preview
Text (Published Research Article)
ijsses.v4i1p1.pdf - Published Version
Available under License Creative Commons Attribution Non-commercial No Derivatives.

Download (676kB) | Preview
Official URL: http://ijsses.org/index.php/volume-4-issue-1-artic...

Abstract

This study examines the impact of oil price shocks on economic growth rate in Nigeria using the impulse response functions and forecast error variance decomposition on quarterly data from 2000 to 2016. This study finds that fluctuations in oil prices cause swings in GDP growth rate in Nigeria. The fluctuation in oil prices also depreciates Naira exchange rate. The country should branch out its revenue sources to shield the dangle effect of the fluctuation in prices of oil.

Item Type: Article
Uncontrolled Keywords: Growth Rate, Shocks, Oil Price
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HA Statistics
H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Divisions: Ishik International Journal of Social Sciences & educational Studies > VOL 4, NO 1 (2017)
Depositing User: Depositor @ Ishik University
Date Deposited: 11 Mar 2018 08:25
Last Modified: 11 Mar 2018 08:25
URI: http://eprints.ishik.edu.iq/id/eprint/2

Actions (login required)

View Item View Item