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Price, Exchange Rate Volatility and Nigeria's Agricultural Trade Flows: a Dynamic Analysis

Author

Listed:
  • Adubi, A.A.
  • Okunmadewa, F.

Abstract

One of the most dramatic events in Nigeria over the past decade was the devaluation of the Nigerian naira with the adoption of a structural adjustment programme (SAP) in 1986. A cardinal objective of the SAP was the restructuring of the production base of the economy with a positive bias for the production of agricultural exports. The foreign exchange reforms that facilitated a cumulative depreciation of the effective exchange rate were expected to increase the domestic prices of agricultural exports and therefore boost domestic production.

Suggested Citation

  • Adubi, A.A. & Okunmadewa, F., 1999. "Price, Exchange Rate Volatility and Nigeria's Agricultural Trade Flows: a Dynamic Analysis," Papers 87, African Economic Research Consortium.
  • Handle: RePEc:fth:afrirc:87
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    References listed on IDEAS

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    1. Peter J. Montiel & Jonathan D. Ostry, 1991. "Macroeconomic Implications of Real Exchange Rate Targeting in Developing Countries," IMF Staff Papers, Palgrave Macmillan, vol. 38(4), pages 872-900, December.
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    Citations

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    Cited by:

    1. Obudah, Bodiseowei C. & Tombofa, Steve S., 2014. "The Impact of Exchange Rate Movements on Trade Balance in Nigeria’s Open-Economy - L’impatto delle variazioni dei tassi di cambio sulla bilancia commerciale della Nigeria," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 67(1), pages 111-125.
    2. Mkpado, Maduabuchi & Arene, Chukwuemeka John, 2012. "Trade Liberalization, Exchange Rate Changes, and the Competitiveness of Carbohydrate Staple Markets in Nigeria," International Journal of Agricultural Management and Development (IJAMAD), Iranian Association of Agricultural Economics, vol. 2(2), June.
    3. repec:eco:journ1:2017-03-63 is not listed on IDEAS
    4. nnamdi, Kelechi & ifionu, Ebele, 2013. "Exchange rate volatility and exchange rate uncertainty in Nigeria: a financial econometric analysis (1970- 2012)," MPRA Paper 48316, University Library of Munich, Germany, revised 2013.

    More about this item

    Keywords

    PRICES ; EXCHANGE RATE ; AFRICA;

    JEL classification:

    • F31 - International Economics - - International Finance - - - Foreign Exchange
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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