TY  - JOUR
T1  - Exchange Rate Changes and Output Performance in Nigeria: A Sectorial Analysis
AU - Omolara Yaqub, Jameelah 
JO  - Pakistan Journal of Social Sciences
VL  - 7
IS  - 5
SP  - 380
EP  - 387
PY  - 2010
DA  - 2001/08/19
SN  - 1683-8831
DO  - pjssci.2010.380.387
UR  - https://makhillpublications.co/view-article.php?doi=pjssci.2010.380.387
KW  - depreciation
KW  -sectoral analysis
KW  -output performance
KW  -Exchange rate
KW  -expansionary
KW  -Nigeria
AB  - Exchange rate policy has been identified as one of the endogenous factors that can affect the economic performance of a nation. In light of this perception, the Nigerian authority tried both the fixed and the market based exchange rate regimes so as to attain a realistic exchange rate that would ensure efficient allocation of foreign exchange restheces and pave way for a non-inflationary growth. Despite the change from one regime to another, the economic performance of Nigeria was still epileptic. It therefore became imperative to investigate the effect of exchange rate on output of different sectors which is the focus of this study. The study adopted the modified IS-LM framework and estimated the behavitheal equations as a system using the seeming unrelated regression estimation technique. Data on Nigeria from 1970-2007 were utilised. The results obtained indicated that exchange rate had significant contractionary effects on agricultural and manufacturing sectors while it had expansionary effect on services sector. It is therefore concluded that the existing structures in Nigeria could not support an expansionary depreciation argument in the basic sectors during the period of study.
ER  -