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Money and output interaction in Nigeria: an econometric investigation using multivariate cointegration technique

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Author Info

  • Godwin Nwaobi

    () (Quantiative Economic Research Bureau)

Abstract

This paper derives and estimates a barro-type reduced form equation for domestic real output from a simple structural model of an open developing economy in which markets clear continuously and expectations are rational. The form in which open economy variables appeared was explicitly derived from an underlying structural model. The model was adapted to Nigerian Economy by according an important role to imported intermediate goods. The empirical result provided support for the open economy model of output determination in Nigeria.

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File URL: http://www.accessecon.com/pubs/EB/2004/Volume3/EB-04C50001A.pdf
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Bibliographic Info

Article provided by AccessEcon in its journal Economics Bulletin.

Volume (Year): 3 (2004)
Issue (Month): 30 ()
Pages: 1-10
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Handle: RePEc:ebl:ecbull:v:3:y:2004:i:30:p:1-10

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Related research

Keywords: cointegration;

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References

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  1. Adrian Pagan, 1985. "Two Stage and Related Estimators and Their Applications," Cowles Foundation Discussion Papers 741, Cowles Foundation for Research in Economics, Yale University.
  2. Attfield, Clifford L F & Duck, Nigel W, 1983. "The Influence of Unanticipated Money Growth on Real Output: Some Cross-Country Estimates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 15(4), pages 442-54, November.
  3. Thornton, Daniel L., 1989. "The effect of unanticipated money on the money and foreign exchange markets," Journal of International Money and Finance, Elsevier, vol. 8(4), pages 573-587, December.
  4. Sheehey, Edmund J., 1984. "Money and output in Latin America : Some tests of a rational expectations approach," Journal of Development Economics, Elsevier, vol. 14(1), pages 203-218.
  5. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
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Cited by:
  1. Nwaobi, Godwin C, 2009. "Inflation,Unemployment and Nigerian Families: An empirical investigation," MPRA Paper 14596, University Library of Munich, Germany.

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