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Balance of Payment Adjustment: An Econometric Analysis of Nigeria's Experience

Omankhanlen, A. E and Mukoro, D. O. (2011) Balance of Payment Adjustment: An Econometric Analysis of Nigeria's Experience. International Journal of Research in Commerce & Management, 2 (6). ISSN 0976-2183

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This study deals with the Balance of Payment adjustment for Nigeria for the period {1986-2007} using an econometric analysis. The main objective of the study is to empirically investigate the effect to which the monetary phenomenon approach to Balance of Payment adjustment explains the observed behaviour of Nigeria's balance of payment. Annual time-series data on the variables under study covering twenty-two year period are used. The balance on Current Account is considered The ordinary least squares single equation technique is used for the study .In the model specified the study looked at the impacts of mane tory and real variables on the current account balance. The explanatory variables include the total domestic credit, GOP ond government expenditure . The study find out that the aggregate credits to the Domestic Economy were significant in explaining the current account balance. There were positive and significant relationship between GOP and current account balance. Also government expenditure was significant in explaining current account balance .It is recommended that the Nigerian Monetary and Fiscal Authorities should give greater priority to measures other than monetary tools to achieve balance of payment stability

Item Type: Article
Uncontrolled Keywords: Balance of payment, Credit, Current Account Balance, GDP .
Subjects: H Social Sciences > HG Finance
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mrs Patricia Nwokealisi
Date Deposited: 07 Nov 2014 11:32
Last Modified: 07 Nov 2014 11:32

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