Ugwuja Chinonso Oliver

Empirical investigation of internal and external shocks on exchange rate volatility in Nigeria (eBook, PDF)

Evidence from GARCH (1 1) forecasting technique

• Format: PDF

Produktbeschreibung

Bachelor Thesis from the year 2017 in the subject Economics - Case Scenarios, grade: 2.1, University of Nigeria, course: ECONOMICS, language: English, abstract: The embracement of the International monetary funds' (IMF) structural adjustment programme (SAP) in 1986 brought the Bretton-Woods system which marked a period of the largest experiment of the pegged exchange rate regimes in the post-World War II era to its knees. Ever since then, there has been a recoded high degree of volatility in the exchange rate of the naira vis-à-vis the US dollars. In this regard, this study seeks to examine other sources of shocks to the exchange rate fluctuations in Nigeria relying on time series data covering the periods 1986-2015. To execute this effectively, the Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model introduced by Tim Bollerslev (1986) was used to decompose these shocks into internal and external sources. Also, the time series properties of the data used were explored and the stationarity conditions of the chosen variables were examined by the help of ADF unit root test under three different test regression equations. However, the GARCH (1 1) volatility forecasting result reveals that volatility shock is present and persistent and concludes that the fluctuations in the Real exchange rate of the naira is responsive to both domestic and international shocks. Consequently, this study recommends that policies be adopted to tame the degree of volatility in exchange rate because of the deleterious effect it could have on foreign transactions. Furthermore, to make the work more enticing and attractive to the readers, we sectionalized this study into Chapters; chapter one for introduction, chapter two for literature review, chapter three for Research methodology, chapter four for the presentation and analysis of empirical findings and chapter five.

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Produktdetails

• Verlag: GRIN Verlag
• Seitenzahl: 90
• Erscheinungstermin: 1. April 2019
• Englisch
• ISBN-13: 9783668911369
• Artikelnr.: 55984638

Autorenporträt

Ugwuja Chinonso Oliver (ACIEHS, ACICRM, GNIM) is a multidimensional economist, Business Analyst, Banker, Chartered Manager certified by the Nigerian Institute of Management, and a passionate teacher. He has been a research consultant since 2016 with over five published research papers. Chinonso is proficient in statistical and econometric modeling with special skills in using E-VIEWS, STATA, SPSS, EXCEL, and other software. His position has been beneficial to many scintillating researchers in economics and other related disciplines. His passion in teaching has helped students to acquire indelible knowledge that has helped them scale through their public examinations. His Banking, Management, and Audit profession has continuously helped companies grow their revenues and increase their customer base. His writing skills have attracted sponsorship to a lounge where he worked as an inventory controller/internal auditor. Chinonso studied economics at the University of Nigeria. He obtained a Second-Class Upper Division Level (Magnum Cum Laude) and was honored as a policy critic of the year 2017. He obtained the West African Examinations Certificate (WAEC) with excellent results, at Saint Teresa's College, Nsukka in 2012. His passion for educational advancement and contributing to the development of the global economy by imparting knowledge to others and helping SMEs to grow compelled him to take online courses and obtain Graduate Diploma in Digital Marketing and Customer Relationship Management (CRM). Chinonso has diverse professional careers in banking, research, teaching, and business. He contributes to helping both existing and newly established businesses to grow so that employment in this sector will be secure and lucrative as well. Chinonso partners with Formazione Business School as a facilitator for Skill Acquisition and Entrepreneurship Development (SAED), where he had trained business owners in various skills such as Accounting and business management. Chinonso is a volunteer with the Financial Inclusion and Literacy Group where he helped petty traders to obtain low-interest loans to fund their business ideas. These notwithstanding, he seeks national & international exposure and opportunities to contribute to the growth of global economy.