The Importance of Oil to an Export Dependent Economy: The Case of Nigeria

20 Pages Posted: 9 Aug 2013

See all articles by Mark Rhodes

Mark Rhodes

Hull University Business School (HUBS)

Suleiman Tahir

Central Bank of Nigeria

Date Written: August 8, 2013

Abstract

The paper examines the influence of oil on an export dependent, developing economy, Nigeria. There are mixed findings in the academic literature on the effect of oil prices on exporting nations and the paper contributes to understanding these by including a measure of price uncertainty simultaneously with the level. A vector auto-regressive model includes variables measuring the foreign reserve account, exchange rate and (a proxy for) the interest rate in an examination of gross domestic product.

Keywords: natural resources, energy, exhaustible resources, development

JEL Classification: O13, Q3

Suggested Citation

Rhodes, Mark and Tahir, Suleiman, The Importance of Oil to an Export Dependent Economy: The Case of Nigeria (August 8, 2013). Available at SSRN: https://ssrn.com/abstract=2307636 or http://dx.doi.org/10.2139/ssrn.2307636

Mark Rhodes (Contact Author)

Hull University Business School (HUBS) ( email )

Hull, HU6 7RX
United Kingdom

Suleiman Tahir

Central Bank of Nigeria ( email )

Plot 33, Abubakar Tafawa Balewa Way
Central Business District, Cadastral Zone
FCT, Abuja, Garki, Abuja P.M.B. 187
Nigeria

HOME PAGE: http://www.cbn.gov.ng

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
111
Abstract Views
648
rank
315,680
PlumX Metrics