NDLI: The Impact of Exchange Rate Dynamics on Agricultural Output Performance in Nigeria

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The Impact of Exchange Rate Dynamics on Agricultural Output Performance in Nigeria

Content Provider	Scilit
Author	Adekunle, Wasiu Ndukwe, C. Innocent
Copyright Year	2018
Description	Journal: SSRN Electronic Journal The study investigated the possible asymmetric effect of real exchange rate dynamics on agricultural output performance in Nigeria over the period of 1981 to 2016 by collecting data from secondary sources. The study employed a combination of stationary and nonstationary variables as was found out through the ADF unit root test. Based on the Bounds test for cointegration, a long-run relationship was absent between real exchange rate and agricultural output, irrespective of specifications. Generally, the result of model estimation showed that the significant drivers of agricultural output are real exchange rate (log-levels), real appreciation and depreciation (after some lags), industrial capacity utilization rate, and government expenditure on agriculture (after some lags). ACGSF loan exerted positive and insignificant influence on agricultural output. In addition, though the effect of real appreciation was larger than that of real depreciation, the present study could not find any evidence in support of the asymmetric effect of real exchange rate dynamics on agricultural output performance in the Nigerian economy. It is therefore suggested that fiscal and monetary authorities in Nigeria should work in unison at ensuring that the full potentials of the agricultural sector are harnessed for the growth and development of the country.
Related Links	https://mpra.ub.uni-muenchen.de/87750/1/MPRA_paper_87750.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3214757
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3214757
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2018-07-16
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Development Studies Real Exchange Rate Agricultural Output
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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