Oil price fluctuation and economic growth in nigeria
The study will be also of great importance to student s of economics and other researchers who may have interest in industrial sector or industrialization and its impact on Nigeria economy. Finally, the findings of this study would add to the stock of econometric literature of Nigeria. Still one oil price volatility on Nigeria economic growth. Oil price fluctuations and the Nigerian economy. these studies assume a linear relationship between oil price and economic growth and do not discern the effects of positive and negative shocks The challenge of the combined effect of hikes in oil prices and exchange rate instabilities on macroeconomic economic stability and economic growth for oil producing nations like Nigeria is really enormous. Still on ,,,,, Impact of Exchange Rate Fluctuation on Nigeria’s Economic Growth 1981-2015 Windfalls that result from volatile oil price surges/shocks overwhelmingly flow through the economy; expand the oil sector and penalise the non-oil sector (Mieiro and Ramos, 2010). The resulting decline in the non-oil sector reinforces sharp decline in the economic growth rate when the price of crude oil falls. Oil price shocks significantly determine the real exchange rate and significantly affect the money supply in the long run. In this research, we find the relationship between world Oil price shocks and economic growth of the Ghanaian economy. For a newly oil producing country like Ghana, such price shocks have
Algeria, Angola, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, oil price change and the macro-economy of non-OPEC oil exporting countries.
Oil price shocks significantly determine the real exchange rate and significantly affect the money supply in the long run. In this research, we find the relationship between world Oil price shocks and economic growth of the Ghanaian economy. For a newly oil producing country like Ghana, such price shocks have Nigeria has substantially lost income from oil and has to fund the 2016 budget mainly from borrowed funds and perhaps from recovered loot. Thus, this study examined the impact of fallen oil prices Impact of High Oil Prices on African Economies balance of payments positions and possibly leading to lower economic growth than in the absence of the oil shock. 4.1.1 Literature Review A large number of studies have investigated the macro-economic impact of oil price shocks, focusing in particu-lar on the response of economic growth and consumer Download the complete economics project topic and material (chapter 1-5) titled CRUDE OIL PRICE FLUCTUATIONS AND ECONOMIC GROWTH IN NIGERIA (1985-2015) here on PROJECTS.ng. See below for the abstract, table of contents, list of figures, list of tables, list of appendices, list of abbreviations and chapter one. Click the DOWNLOAD NOW button to get the complete project work instantly. The study will be also of great importance to student s of economics and other researchers who may have interest in industrial sector or industrialization and its impact on Nigeria economy. Finally, the findings of this study would add to the stock of econometric literature of Nigeria. Still one oil price volatility on Nigeria economic growth.
Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test) Umar Muhammad Gummi, Aliyu Isah Buhari and Ahmad Muhammad Department of Economics, Sokoto State University, Sototo, PMB 2134, Nigeria Abstract
that mitigate the effects of volatility on an economy are the institutions of finance. This is due to interest such as oil price growth and oil volatility. The ARDL From this table, we find that Nigeria which has a 14% discrepancy in synthetic oil. This has much impact on the economies of Angola and Nigeria being net oil exporting growth. The study found that increased volatility of oil prices significantly This study evaluated the effect of crude oil price volatility on Nigeria economy The fall in crude oil price internationally has hit the economy of Nigeria such that.
Feb 25, 2017 Inflation have long recognized amongst others as one of the major factors that could derail the economy of any country. In Nigeria, the problem of
Aug 27, 2018 Thus, the upward or downward movement of oil price (fluctuation) has an attendant multiplier effect on crude oil and economic growth in Nigeria. Jul 27, 2018 On this basis, the state of Nigeria's economy is clearly abnormal. The literature on the fluctuations in oil prices and the consequences on the Finally, an oil price change above the threshold level explains the variation in GDP growth better than the real interest rate. More countries specific studies and relationship between oil price volatility and Nigeria economic growth. This implies that oil price changes determines government expenditure level, rate of Oil is a commodity, and as such, it tends to see larger fluctuations in price than Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Mar 11, 2020 Low oil prices are dangerous for Nigeria; but it should take the opportunity amongst key OPEC and non-OPEC actors, fueling a new era of volatility. While non-oil GDP growth has shown welcome signs of improvement in (2012) showed the evidence that stable energy prices (including crude oil) would boost GDP growth and the economy would perform better in such situation.
Fluctuation and Nigerian Economy (1981–2013), a period of 32 years. Using the VAR Model. (VAR) the impact of oil price fluctuation on the economy of Nigeria
Diversification, manufacturing, sustained growth, oil sector, non-oil sector,. GDP, economy, volatility, fluctuation, oil dependence, oil price, oil revenue, eco- nomic Nov 21, 2019 Despite lower global prices, the oil sector has made modest progress this year. Non-oil growth, however, fell back to just 1.6 per cent year-on-year in the Cheta Nwanze: Nigeria's structure needs to change completely. Abstract: Oil price fluctuation is the main source of many economic crises. So, it is vital to Key word: Oil Price Shocks, Economic Growth, OPEC Countries, OECD Countries, VAR Model. Nigerian unrest make a great oil price shock in 2003. Keywords: Oil Price Shock, Government Expenditure, Growth, Oil-Exporting Countries Changes in global oil prices have significant consequences for economic Ayadi, O.F. (2005), “Oil Price Fluctuations and the Nigerian Economy ”, OPEC growth has worked to boost demand for oil and other resources and raise their consider the effects of the oil price upsurge on the world economy, while reviewing Nigeria's strikes, losses from large hurricanes in the Gulf of Mexico and the Middle prices rise substantially, production factors' relative prices may change As a result, large swings in oil prices can come as a surprise, as was the case with factors and finds shifts in expectations of global economic growth and global oil supply largely due to unrest in Libya, Iran, Iraq, and Nigeria, and mostly off-. 2 COMMODITY PRICES AND ECONOMIC. DEVELOPMENTS by commodity price changes and more while dampening money and credit growth in the short 9 Nigeria's oil production increased by around 25% between 1999 and 2005.
Oil price shocks significantly determine the real exchange rate and significantly affect the money supply in the long run. In this research, we find the relationship between world Oil price shocks and economic growth of the Ghanaian economy. For a newly oil producing country like Ghana, such price shocks have