Paper Title
Interrogating the Asymmetric Impact of Exchange Rate on Agricultural Output in Nigeria.
Article Identifiers
: Keywords
Keywords: Exchange Rate, Asymmetric Impact, Agricultural Output, Dutch Disease Syndrome, Non-linear Autoregressive Distributed Lag.
Abstract
Abstract The agricultural sector is vital to the Nigerian economy. It serves several functions including food supply for the populace, a source of income for a sizable section of the domestic labour force, a supplier of raw materials for industrial production, and provision of foreign exchange revenues to the economy. However, due to the country's abundance of natural resources like crude oil, the agriculture sector is vulnerable to the fluctuations in the exchange rate caused by international financial markets. This analysis looked at how changes in the value of the naira relative to dollar affects agricultural production. In order to contribute to the current body of literature for the time period between 1981 and 2021, this study employed the Dutch Disease Syndrome theoretical framework through the use of the non-linear autoregressive distributed lag (NARDL) method for Nigeria. This research shows that while the long-term effect of the exchange rate on agricultural output in Nigeria is symmetrical, the short-term effect is asymmetrical. Consequently, since exchange rate exerted positive impact on agricultural production in the long run, it is suggested that the Nigerian government explores the increased competitiveness of the sector in its economic diversification efforts. In other words, the agricultural sector could provide an avenue to expand the revenue base of the government.
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How To Cite (APA)
Dr Francis Ariayefa ENIEKEZIMENE, Dr Ebimowei WODU, & Mr Joseph Peres ANDA-OWEI (October-2023). Interrogating the Asymmetric Impact of Exchange Rate on Agricultural Output in Nigeria.. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 8(10), a14-a24. https://ijnrd.org/papers/IJNRD2310003.pdf
Issue
Volume 8 Issue 10, October-2023
Pages : a14-a24
Other Publication Details
Paper Reg. ID: IJNRD_205047
Published Paper Id: IJNRD2310003
Downloads: 000122253
Research Area: Social Science and HumanitiesÂ
Author Type: Foreign Author
Country: Yenagoa/Port Harcourt, Bayelsa State, Nigeria
Published Paper PDF: https://ijnrd.org/papers/IJNRD2310003.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2310003
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