ABSTRACT
This research work is centred on the impact of exchange rate fluctuation on the Nigeria’s economic growth with special emphasis on purchasing power of the average Nigeria and the level of international trade transaction. Without exchange rate the exchange of goods and services among trading partners will be faced with a lot of problems, which may virtually narrow it down to trade by barter. This exchange also is used to determine the level of output growth of the country. Hence, the rate at which exchange fluctuates calls for a lot of attention. However, with already existing exchange rate policies, a constant exchange rate has not been attained. The rate by which exchange rate fluctuates brings about uncertainty in the trade transaction, and also the rate of naira has been unleashed and continues to depreciate. This has resulted to declines in standard of living of the population increase in costs of production (this is because most of the raw materials needed by industries are usually imported), which resulted in cost-push inflation. We made use of many tests, like the t-statistics table, f-statistic table and the chi-square etc. When we found out real exchange rate has a positive effect on the GDP.
CHAPTER ONE
1.0 INTRODUCTION
1.1 BACKGROUND OF THE STUDY
the exchange rate is perhaps one of the most widely discussed topic in Nigeria today. This is not surprising given it’s macro-economic importance especially in a highly import dependent economy as Nigeria (Olisadebe, 1995:20). Macroeconomic policy formulation is a process by which the agencies responsible for the conduct of economic policies manipulate a set of instrumental variables in order to achieve some desire objectives.
In Nigeria these objectives include achievements of domestic price stability, balance of payment equilibrium, efficiency, equitable distribution of income and economic growth and development.
Economic growth refers to the continuous increase in a country’s national income or the total volume of goods and services, a good...
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Item Type: Project Material | Attribute: 93 pages | Chapters: 1-5
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