Paper Title
Agricultural Sector Credits, Exchange Rate Volatility and Agricultural Sector Performance in Nigeria
Article Identifiers
Authors
Ini-mfon Vincent Patrick , Elizabeth Atairet Atairet , Aniekan Edwin Sunday
Keywords
Agricultural output, Agricultural credits, Exchange Rate, Volatility
Abstract
This study examines the impacts of credits to Agricultural sector and Exchange rate volatility on Agricultural performance in Nigeria. The study adopts a quantitative econometrics analysis using the Scientific Method of Ordinary Least square (OLS) regression technique to analyzed the annual time series data in a multiple regression model, which is based on the Solow growth theory. From the result of the Engel Granger co-integration test, it was confirmed that there is a long run relationship between the macroeconomic variables in the estimated model as the residuals of the OLS regression of the model was integrated at level at 5 per cent level of significance. The estimated results revealed that exchange rate volatility in Nigeria has a significant negative impact on agricultural sector performance. It also indicated that agricultural credit guarantee scheme fund has a negative impact on agricultural output in Nigeria while commercial bank credits to agricultural sector has a positive impact on agricultural output in Nigeria. Based on these findings, the study recommends that monetary authority should ensure the stability of the country’s exchange rate (Naira) since exchange rate depreciation affects agricultural output negatively. Also, in order to achieve a high level of growth in the agricultural output, the Nigerian government should encourage commercial banks to increase credit to agricultural sector as these credits promotes agricultural output growth in Nigeria.
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How To Cite (APA)
Ini-mfon Vincent Patrick, Elizabeth Atairet Atairet, & Aniekan Edwin Sunday (May-2024). Agricultural Sector Credits, Exchange Rate Volatility and Agricultural Sector Performance in Nigeria. INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT, 9(5), f495-f510. https://ijnrd.org/papers/IJNRD2405555.pdf
Issue
Volume 9 Issue 5, May-2024
Pages : f495-f510
Other Publication Details
Paper Reg. ID: IJNRD_221907
Published Paper Id: IJNRD2405555
Downloads: 000121981
Research Area: Social Science and HumanitiesÂ
Country: Uyo, AKWA IBOM, Nigeria
Published Paper PDF: https://ijnrd.org/papers/IJNRD2405555.pdf
Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2405555
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Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)
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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition
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