Interrogating the Asymmetric Impact of Exchange Rate on Agricultural Output in Nigeria.

Interrogating the Asymmetric Impact of Exchange Rate on Agricultural Output in Nigeria.

Registration ID: IJNRD_205047

Published ID: IJNRD2310003

DOI: Click Here to Get

Dr Francis Ariayefa ENIEKEZIMENE , Dr Ebimowei WODU , Mr Joseph Peres ANDA-OWEI

Keywords: Exchange Rate, Asymmetric Impact, Agricultural Output, Dutch Disease Syndrome, Non-linear Autoregressive Distributed Lag.

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.

Published Paper   E-Certificate

"Interrogating the Asymmetric Impact of Exchange Rate on Agricultural Output in Nigeria.", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.8, Issue 10, page no.a14-a24, October-2023, Available :https://ijnrd.org/papers/IJNRD2310003.pdf

Volume 8 Issue 10, October-2023

Pages : a14-a24

Paper Reg. ID: IJNRD_205047

Published Paper Id: IJNRD2310003

Downloads: 000121180

Research Area: Social Science and Humanities 

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

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

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