Record Details

DOES CHANGE IN PRICE LEVEL AID INDUSTRIAL SECTOR PRODUCTIVITY IN NIGERIA?

European Journal of Social Sciences Studies

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Title DOES CHANGE IN PRICE LEVEL AID INDUSTRIAL SECTOR PRODUCTIVITY IN NIGERIA?
 
Creator Ezeaku, Hillary Chijindu
Anidiobu, Gabriel A.
Okolie, Paschal I. P.
 
Subject industrial output, inflation, broad money supply, error correction model
 
Description This goal of this study is to assess the effect of inflation on industrial output in Nigeria using annual data from 1982 to 2015. The error correction model (ECM) was employed to estimate the short-run and long-run dynamics, while the Engel and Granger residual-based technique for cointegration was employed to test for long-run relationship. The Findings revealed that inflation, official exchange rate and real interest rate had negative effects on Nigeria’s industrial output. A unit change in inflation rate and real interest rates brought about 9.2% and 3.3% decline in industrial output respectively. When however the broad money supply increased by 1%, industrial sector value added increased by 23.7%. Growth in broad money supply was however found to have significant positive effect on industrial production over the period. Based on the ECM, the study found that the last period’s deviation from long-run equilibrium is corrected at the speed of 62.7% annually.  JEL: C22, E63, L60  Article visualizations:
 
Publisher Open Access Publishing Group
 
Contributor —
 
Date 2017-10-29
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
—
 
Format application/pdf
 
Identifier https://oapub.org/soc/index.php/EJSSS/article/view/231
10.46827/ejsss.v0i0.231
 
Source European Journal of Social Sciences Studies; Volume 2, Issue 7, 2017
25018590
25018590
 
Language eng
 
Relation https://oapub.org/soc/index.php/EJSSS/article/view/231/683
https://oapub.org/soc/index.php/EJSSS/article/view/231/684
https://oapub.org/soc/index.php/EJSSS/article/view/231/685
 
Rights Copyright (c) 2018 Hillary Chijindu Ezeaku, Gabriel A. Anidiobu, Paschal I. P. Okolie
http://creativecommons.org/licenses/by/4.0