<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>The paper seeks to assess the industry-based effect of exchange rate volatility on the export of non-oil sector in Nigeria. Theoretically and empirically, volatility-trade link is ambiguous. The paper employed bound test for co-integration between exchange rate volatility and exports of non-oil products. Empirically, the results show that we can accept the hypothesis of no co-integration between volatility and export of non-oil industries in most cases. Therefore, the study concludes that the exchange rate volatility can actually produce negative effect on non-oil export industries in the short-run especially the big industries (Agriculture, food and manufacturing) but this effect does not linger into the long-run and this suggests that most of these industries have been able to develop a mechanism to cope with exchange rate volatility problem in the long-run.</p>
</abstract>

The paper seeks to assess the industry-based effect of exchange rate volatility on the export of non-oil sector in Nigeria. Theoretically and empirically, volatility-trade link is ambiguous. The paper employed bound test for co-integration between exchange rate volatility and exports of non-oil products. Empirically, the results show that we can accept the hypothesis of no co-integration between volatility and export of non-oil industries in most cases. Therefore, the study concludes that the exchange rate volatility can actually produce negative effect on non-oil export industries in the short-run especially the big industries (Agriculture, food and manufacturing) but this effect does not linger into the long-run and this suggests that most of these industries have been able to develop a mechanism to cope with exchange rate volatility problem in the long-run.

Exchange Rate Volatility and Sectoral Analysis of Non-Oil Export in Nigeria

Lukman Oyeyinka Oyelami is at University of Lagos

Omowumi M. Ajeigbe is at Department of Economics

Zagreb International Review of Economics and Business

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

{"article-title":"Exchange Rate Volatility and Sectoral Analysis of Non-Oil Export in Nigeria"}

The paper seeks to assess the industry-based effect of exchange rate volatility on the export of non-oil sector in Nigeria. Theoretically and empirically,...

Exchange Rate Volatility and Sectoral Analysis of Non-Oil Export in Nigeria

Published Online: May 29, 2021

Page range: 21 - 36

DOI: https://doi.org/10.2478/zireb-2021-0002

Keywords
Volatility, Non-oil, Export, Nigeria

© 2021 Lukman Oyeyinka Oyelami et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Exchange Rate Volatility and Sectoral Analysis of Non-Oil Export in Nigeria

Published Online: May 29, 2021

Page range: 21 - 36

DOI: https://doi.org/10.2478/zireb-2021-0002

KeywordsVolatility, Non-oil, Export, Nigeria

© 2021 Lukman Oyeyinka Oyelami et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Keywords
Volatility, Non-oil, Export, Nigeria