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Effect of Exchange Rate Fluctuations on Manufacturing Sector Output in Nigeria

Authors: LAWAL Esther

Publication Type: Journal article

Journal: Journal Of Research In Business And Management

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Abstract

The research work examined the effect of exchange rate fluctuations on manufacturing sector output in Nigeria from 1986 to 2014, a period of 28 years. Data sourced from Central Bank of Nigeria (CBN) statistical Bulletin and World Development Indicators (WDI) on manufacturing output, Consumer Price Index (CPI), Government Capital Expenditure (GCE) and Real Effective Exchange Rate (EXC) were analyzed through the multiple regression analysis using Autoregressive Distribution Lag (ARDL) to examine the effect of exchange rate fluctuations on manufacturing sector. Using ARDL it was discovered that exchange rate fluctuations have long run and short run relationship on manufacturing sector output. The result showed that exchange rate has a positive relationship on manufacturing sector output but not significant. However, from the empirical analysis it was discovered that exchange rate is positively related to manufacturing sector output. Therefore, the paper recommended that government should implement the policies on export strategies to encourage exports and discourage imports in order to achieve a favourable balance of payment; government should encourage the use of domestic materials in production in order to encourage international competitiveness and also increase expenditures on economic services such as manufacturing so as to increase their output

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LAWAL,E. . (0000). Effect of Exchange Rate Fluctuations on Manufacturing Sector Output in Nigeria, 4 (), 32-32.

LAWAL,E. . "Effect of Exchange Rate Fluctuations on Manufacturing Sector Output in Nigeria" 4, no (), (0000): 32-32.

LAWAL,E. and . (0000). Effect of Exchange Rate Fluctuations on Manufacturing Sector Output in Nigeria, 4 (), pp32-32.

LAWALE, . Effect of Exchange Rate Fluctuations on Manufacturing Sector Output in Nigeria. 0000, 4 ():32-32.

LAWAL,Esther , . "Effect of Exchange Rate Fluctuations on Manufacturing Sector Output in Nigeria", 4 . (0000) : 32-32.

L.Esther , "Effect of Exchange Rate Fluctuations on Manufacturing Sector Output in Nigeria" vol.4, no., pp. 32-32, 0000.

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