Analysis of inflation and its determinants in Nigeria
AbstractThe study critically analyzed the dynamic and simultaneous inter-relationship between inflation and its determinants in Nigeria between 1970 and 2007. The time series variables properties were examined using the Augmented Dickey Fuller (ADF) unit root test and the result reveals that inflation rate, growth rate of real output and money supply, and real share of Fiscal deficit are stationary at levels, while other incorporated variables in the empirical analysis- real share of Import, Exchange rate and Interest rate-are stationary at first difference. The long-run and short-run mechanism of interaction between inflation and its determinants were examined usig the Augmented Engle-Granger (AEG) cointegration test and Error Correction Mechanism (ECM) model respectively.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 35837.
Date of creation: 2010
Date of revision:
Publication status: Published in Pakistan Journal of Social Sciences 2.7(2010): pp. 97-100
Inflation; determinants; unit root; cointegration; error correction model; Nigeria economy;
Find related papers by JEL classification:
- E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
- E00 - Macroeconomics and Monetary Economics - - General - - - General
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
- C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
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