Money and output interaction in Nigeria: an econometric investigation using multivariate cointegration technique
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.
Volume (Year): 3 (2004)
Issue (Month): 30 ()
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- Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
- 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.
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Cowles Foundation Discussion Papers
741, Cowles Foundation for Research in Economics, Yale University.
- Dr. Godwin Chukwudum Nwaobi, 2004. "Modelling Economic Fluctuations In Subsaharan Africa:A Vector Autoregressive Approach," Macroeconomics 0406008, EconWPA.
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