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CBN Journal of Applied Statistics (JAS)

Keywords

Agriculture, Exchange rate, Economy, Deregulation, Nigeria

Abstract

The kernel of this study was to examine the causal relationship between exchange rate deregulation and the agricultural share of gross domestic product in Nigeria from an econometric perspective using time series data spanning a period of 26 years (1986 – 2011). Data on exchange rate and gross domestic product were analysed using augmented dickey fuller unit root test, unrestricted vector autoregression, pairwise granger causality and vector error correction model. The results showed the existence of unidirectional causality from exchange rate to agricultural share of gross domestic production and also, exchange rate deregulation had negative influence on agricultural share of gross domestic production in Nigeria. This implies that market driven exchange rate policy has been having undesirable influence on the trend in agricultural share of gross domestic production in Nigeria.

Author Bio

The authors are staff of

1. Department of Agricultural Economics and Rural Sociology, Ahmadu Bello University, Zaria, Kaduna State, Nigeria. Email: ooyinbo@abu.edu.ng

2 Department of Agricultural Economics and Farm Management, University of Ilorin, Kwara State, Nigeria.

3 National Animal Production Research Institute, Ahmadu Bello University, Shika-Zaria, Kaduna State, Nigeria.

Publication Title

CBN Journal of Applied Statistics

Issue

2

Volume

5

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