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A Bound Testing Analysis Of Exchange Rate Pass- Through To Aggregate Import Prices In Nigeria: 1980-2006

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Author Info

  • M. Abimbola Oyinlola

    () (Department of Economics, University of Ibadan)

  • M. Adetunji Babatunde

    () (Department of Economics, University of Ibadan)

Abstract

This paper examines the extent of pass-through of exchange rate into import prices for Nigeria between 1980 and 2006 using the recently developed UECM-Bounds test proposed by Pesaran et al. (2001). Empirical evidence reveals that world export prices has a dominant effect compared to exchange rate in explaining changes in Nigeria¡¯s import prices in the short and long run. The major implication for our study therefore is that exogenous factors such as world export prices appeared to be more important determinants of domestic import prices than a country¡¯s exchange rate policies.

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Bibliographic Info

Article provided by Chung-Ang Unviersity, Department of Economics in its journal Journal Of Economic Development.

Volume (Year): 34 (2009)
Issue (Month): 2 (December)
Pages: 97-109

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Handle: RePEc:jed:journl:v:34:y:2009:i:2:p:97-109

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Related research

Keywords: Aggregate Import Price; World Export Price; Bound Testing; Nigeria;

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  1. Sushanta Mallick & Helena Marques, 2008. "Passthrough of Exchange Rate and Tariffs into Import Prices of India: Currency Depreciation versus Import Liberalization," Review of International Economics, Wiley Blackwell, vol. 16(4), pages 765-782, 09.
  2. Menon, Jayant, 1995. " Exchange Rate Pass-Through," Journal of Economic Surveys, Wiley Blackwell, vol. 9(2), pages 197-231, June.
  3. Kenny, Geoff & McGettigan, Donal, 1996. "Exchange Rate Pass-Through and Irish Import Prices," Research Technical Papers 6/RT/96, Central Bank of Ireland.
  4. repec:ebl:ecbull:v:3:y:2005:i:26:p:1-14 is not listed on IDEAS
  5. Carlos José García & Jorge Enrique Restrepo, 2001. "Price Inflation and Exchange Rate Pass-Through in Chile," Working Papers Central Bank of Chile 128, Central Bank of Chile.
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