A Vector Autoregressive Analysis Of An Oil-Dependent Emerging Economy - Nigeria

Autor:	C. Pat Obi, Amitava Chatterjee, O. Felix Ayadi
Rok vydání:	2000
Předmět:	Macroeconomics media_common.quotation_subject Control (management) Financial market Prime mover Virtuous circle and vicious circle Autoregressive model Economics General Earth and Planetary Sciences Emerging markets Oil boom Autonomy General Environmental Science media_common
Zdroj:	OPEC Review. 24:329-349
ISSN:	1468-0076 0277-0180
DOI:	10.1111/1468-0076.00087
Popis:	This paper models the interrelationship among a variety of macroeconomic variables representing the financial, as well as the energy, sectors of the Nigerian economy from 1975 through 1994. The attempt is to investigate the impact of the energy sector on the functioning of the Nigerian economy, including the financial markets. The investigation is explored within a vector autoregressive (VAR) system. The results reveal that the energy sector exerts a significant influence on the Nigerian economy by acting as a prime mover. More importantly, Nigeria seems to find itself in a vicious circle, because of its inability to exercise control over the price of its main export and its imports. Thus, the strength and autonomy exhibited by Nigerias macroeconomic managers during the oil boom era appears to have been barren.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::709276c3ad4685139259d45909b5fe33 https://doi.org/10.1111/1468-0076.00087 Zobrazit plný text záznamu Plný text ve formátu PDF Plný text ve formátu HTML
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