Impact of Exchange Rate Volatility on Export in Nigeria: 2008 – 2021
Umaru Musa,
Olutope Olufunso Olorunfemi,
David Wazamari Ndagwakwa,
Annette Onyebuchi Eze,
Daniel Oluwaseun Mimiko,
Yakubu Musa,
Amechi Henry Igweze,
Uyu Eyo Ita
Issue:
Volume 12, Issue 1, March 2023
Pages:
1-14
Received:
13 December 2022
Accepted:
29 December 2022
Published:
6 February 2023
Abstract: This study examined the impact of exchange rate volatility on export in Nigeria. The specific objectives of the study were to evaluate the individual impacts of parallel market-, interbank, real and nominal-exchange rate volatilities on Nigeria’s export. The study employed the ARDL-Error Correction Model and Bound Test using secondary data sourced from the Statistics Database of the Central Bank of Nigeria. Bounds test results for each of the four models, showed long-run relationship among the variables. The results showed that in the long-run, all the exchange rate volatility measures showed negative sign as expected but only the real effective exchange rate volatility was statistically significant in the long run. In the short-run, the average impact of exchange rate volatility was negative in all the four models as expected. However, volatility in real effective exchange rate and nominal effective exchange rate were statistically significant. Finally, if the Nigeria’s export deviates from its long-run path due to short-run perturbations, the tendency for it to return to long-run equilibrium from the four models lied between 25% and 39%. Based on these results, this study recommended that efforts to improve Nigeria’s trade with other countries should consider stabilizing the Naira exchange rate. The Central Bank of Nigeria should shore up reserve accretion as well as diversify the country’s export basket and source for new export destinations.
Abstract: This study examined the impact of exchange rate volatility on export in Nigeria. The specific objectives of the study were to evaluate the individual impacts of parallel market-, interbank, real and nominal-exchange rate volatilities on Nigeria’s export. The study employed the ARDL-Error Correction Model and Bound Test using secondary data sourced ...
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Comparative Study on the Influence of FDI on Economic Growth in Bangladesh and Its Neighboring Countries
Issue:
Volume 12, Issue 1, March 2023
Pages:
15-23
Received:
7 February 2023
Accepted:
7 March 2023
Published:
16 March 2023
Abstract: Due to globalization, there has been a significant amount of growth in foreign direct investment, exports, imports and remittances which exaggerate the interaction between states, regions and firms. It became obvious for the developing countries like Sri Lanka, Pakistan, India and Bangladesh to take the advantage and stimulate their economic growth through trade and investment. Literature shows that the relationship among these macroeconomic variables is ambiguous as some of the macroeconomic variables have positive impact on growth and others have negative impact, and vice-versa. Keeping this in mind, this paper examines what influence that foreign direct investment, export, gross capital formation, labor force participation and remittances have on economic growth based on a time series data to realize the meticulous scenario. Both descriptive and inferential statistics were implied here where RGDP was response variable and the rest five were explanatory variables. Ordinary Least Square method of multiple linear regression and correlation were carried out and the results disclose that gross capital formation and remittance have significant positive influence, export has significant negative impact on RGDP for most of the countries, and foreign direct investment has significant positive influence only in Pakistan. It will be worthy to say that foreign direct investment, exports and remittances have roles to play for a country’s development as long as they become greater in terms of volume and their ratio to GDP.
Abstract: Due to globalization, there has been a significant amount of growth in foreign direct investment, exports, imports and remittances which exaggerate the interaction between states, regions and firms. It became obvious for the developing countries like Sri Lanka, Pakistan, India and Bangladesh to take the advantage and stimulate their economic growth...
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The Development and Impact of FinTech in the Digital Economy
Yang Zihan,
Li Yihan,
Tang Yinwen
Issue:
Volume 12, Issue 1, March 2023
Pages:
24-31
Received:
13 February 2023
Accepted:
14 March 2023
Published:
16 March 2023
Abstract: FinTech can also be seen as technology-driven financial innovation, which uses various technological tools, such as combining big data, cloud computing, blockchain, and artificial intelligence, to innovate the services provided by the traditional financial industry, thereby improving efficiency and reducing operational costs. FinTech is currently developing at a rapid pace and will become the mainstream form of the financial industry. Components of FinTech include big data finance, artificial intelligence finance, blockchain finance, quantitative finance, and the development and use of cryptocurrencies, such as Bitcoin. FinTech currently exists most centrally for the purpose of financial services companies to integrate it with their own service offerings for the purpose of improving the consumer experience. FinTech can be used in a wide range of applications such as digital payments, peer-to-peer lending, venture capital, crypto services, robo-finance related advisory services, and fraud fighting. FinTech can maintain national financial security, achieve universal access to people's livelihood, improve the efficiency of financial companies' services and reduce staff management costs, promote the construction of "One Belt, One Road" by sharing financial results, solve the problem of financing difficulties for some SMEs, etc. However, there are still certain risks associated with finTech, such as the privacy of big data, the lack of comprehensive risk assessment of new technology applications, the operational risks, and challenges of finTech companies, the credit crisis of consumers due to irregular cooperation, and imperfect regulation, the intensification of competition in the financial industry, the probability of inflation and the formation of oligopoly, etc. FinTech is currently at the tipping point between the Internet finance stage and the deep integration of the finance and technology stage. In the future, FinTech will develop towards digital technology and blockchain technology, which will combine finance with network technology, psychology, cryptography, digital currency, and blockchain concept in the future.
Abstract: FinTech can also be seen as technology-driven financial innovation, which uses various technological tools, such as combining big data, cloud computing, blockchain, and artificial intelligence, to innovate the services provided by the traditional financial industry, thereby improving efficiency and reducing operational costs. FinTech is currently d...
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