International Journal of Economics, Business and Social Science Research, 2025
The study empirically X-rays the influence of macroeconomic variables on exchange rate volatility... more The study empirically X-rays the influence of macroeconomic variables on exchange rate volatility in Nigeria between 1990 and 2023. Exchange rate serves as the dependent variable with inflation rate, lending interest rate, crude oil price, money supply and level of import serving as macroeconomic variables/regressors. Ex post facto research design was adopted by the study due to its ability to explore the cause-andeffect relationship between dependent variables and explanatory variables. The study carried out its empirically data analysis using the fully modified ordinary least square (FM-OLS). The result revealed, while money supply and lending interest rate have positive significant effect on exchange rate volatility, the level of import have negative significant impact on exchange rate. The result also affirmed inflation rate and crude oil price to be positive and insignificant to exchange rate fluctuation. The study concludes that macroeconomic fundamental or variables have significant influence on exchange rate volatility in Nigerian within the sampled period. Based on the findings, the study recommends that monetary authority should implement policy that will enhance effective management of money supply and interest rate in order to stabilize the exchange rate and promote economic growth.
The study empirically assesses the impact of monetary policy on economic growth in Nigeria.
The ... more The study empirically assesses the impact of monetary policy on economic growth in Nigeria.
The study employed time series data ranging from 1982 to 2023. Economic growth is
expressed by Real Gross Domestic Product (RGDP) with interest rate, exchange rate, money
supply and foreign direct investment serving as monetary policy variables or instruments.
The study adopted the ex post facto research design due to its unique quality of being able to
examine the cause –and- effect relationship between dependent variables and regressors. The
method of data analysis was Auto regressive distributed lag (ARDL) model. The empirical
result shown, while foreign direct investment and exchange rate have positive and significant
effect on real GDP, money supply (M2) has negative significant impact on real GDP and
interest rate was found to be positive and insignificant to real GDP. The study concludes that
monetary policy has positive impact on economic growth in Nigerian during the reviewed
period. Owing to the findings, the study recommends that monetary authority should
implement policy that will enhance foreign direct investment and optimize exchange rate
management in the country.
DiamondBridge Economics and Business Journal, 2024
This study explored the impact of financial deepening on manufacturing sector in Nigeria using ti... more This study explored the impact of financial deepening on manufacturing sector in Nigeria using time series data covering 1990 to 2023. Manufacturing sector performance is expressed by growth in manufacturing with financial access, financial depth and financial efficiency serving as indices of financial deepening. The study adopted the ex-post facto research design because of its unique attribute of being able to deals with outcome of events that have already occurred. The data analysis was done using the auto regressive distributed lag technique..The findings shown that financial access and financial depth have positive and significant impact on growth in the manufacturing sector, while financial efficiency was negative and significant to growth in the sector. The study concludes that financial deepening contributed to growth of the manufacturing sector within the period reviewed. It therefore recommends that monetary authorities especially the CBN should implement policies that promote and increase financial depth in the society. Financial institutions such as commercial banks and micro finance banks should be encouraged to increase lending to both SMEs and manufacturing firms in order to boost productivity in the Nigerian economy.
DiamondBridge Economics and Business Journal, 2024
The study empirically assesses the impact of financial deepening on Agricultural sector growth in... more The study empirically assesses the impact of financial deepening on Agricultural sector growth in Nigeria using time series data from 1990 to 2023. Agricultural sector performance was proxy with Growth in Agriculture, while financial deepening indicators were financial access, financial depth and financial efficiency. The model was estimated using the Auto regressive distributed lag technique. The empirical result shown while financial access have positive and significant influence on the growth in Agriculture, financial depth was negative and significant, and financial efficiency was positive and insignificant to growth in the sector . The study concludes that financial deepening has positive effect on growth in the agricultural sector within the reviewed period. In light of the empirical findings, the following recommendations were made: that CBN should implement policies geared towards enhancing financial inclusion to enable Nigeria citizens and prospective farmers to have easy access to affordable financial services and also to encourage commercial banks to increase credit facilities to both farmers and private sector so as to increase Agricultural production in the Nigerian economy.
International Journal of Economics, Business and Social Science Research, 2025
The study empirically X-rays the influence of macroeconomic variables on exchange rate volatility... more The study empirically X-rays the influence of macroeconomic variables on exchange rate volatility in Nigeria between 1990 and 2023. Exchange rate serves as the dependent variable with inflation rate, lending interest rate, crude oil price, money supply and level of import serving as macroeconomic variables/regressors. Ex post facto research design was adopted by the study due to its ability to explore the cause-andeffect relationship between dependent variables and explanatory variables. The study carried out its empirically data analysis using the fully modified ordinary least square (FM-OLS). The result revealed, while money supply and lending interest rate have positive significant effect on exchange rate volatility, the level of import have negative significant impact on exchange rate. The result also affirmed inflation rate and crude oil price to be positive and insignificant to exchange rate fluctuation. The study concludes that macroeconomic fundamental or variables have significant influence on exchange rate volatility in Nigerian within the sampled period. Based on the findings, the study recommends that monetary authority should implement policy that will enhance effective management of money supply and interest rate in order to stabilize the exchange rate and promote economic growth.
The study empirically assesses the impact of monetary policy on economic growth in Nigeria.
The ... more The study empirically assesses the impact of monetary policy on economic growth in Nigeria.
The study employed time series data ranging from 1982 to 2023. Economic growth is
expressed by Real Gross Domestic Product (RGDP) with interest rate, exchange rate, money
supply and foreign direct investment serving as monetary policy variables or instruments.
The study adopted the ex post facto research design due to its unique quality of being able to
examine the cause –and- effect relationship between dependent variables and regressors. The
method of data analysis was Auto regressive distributed lag (ARDL) model. The empirical
result shown, while foreign direct investment and exchange rate have positive and significant
effect on real GDP, money supply (M2) has negative significant impact on real GDP and
interest rate was found to be positive and insignificant to real GDP. The study concludes that
monetary policy has positive impact on economic growth in Nigerian during the reviewed
period. Owing to the findings, the study recommends that monetary authority should
implement policy that will enhance foreign direct investment and optimize exchange rate
management in the country.
DiamondBridge Economics and Business Journal, 2024
This study explored the impact of financial deepening on manufacturing sector in Nigeria using ti... more This study explored the impact of financial deepening on manufacturing sector in Nigeria using time series data covering 1990 to 2023. Manufacturing sector performance is expressed by growth in manufacturing with financial access, financial depth and financial efficiency serving as indices of financial deepening. The study adopted the ex-post facto research design because of its unique attribute of being able to deals with outcome of events that have already occurred. The data analysis was done using the auto regressive distributed lag technique..The findings shown that financial access and financial depth have positive and significant impact on growth in the manufacturing sector, while financial efficiency was negative and significant to growth in the sector. The study concludes that financial deepening contributed to growth of the manufacturing sector within the period reviewed. It therefore recommends that monetary authorities especially the CBN should implement policies that promote and increase financial depth in the society. Financial institutions such as commercial banks and micro finance banks should be encouraged to increase lending to both SMEs and manufacturing firms in order to boost productivity in the Nigerian economy.
DiamondBridge Economics and Business Journal, 2024
The study empirically assesses the impact of financial deepening on Agricultural sector growth in... more The study empirically assesses the impact of financial deepening on Agricultural sector growth in Nigeria using time series data from 1990 to 2023. Agricultural sector performance was proxy with Growth in Agriculture, while financial deepening indicators were financial access, financial depth and financial efficiency. The model was estimated using the Auto regressive distributed lag technique. The empirical result shown while financial access have positive and significant influence on the growth in Agriculture, financial depth was negative and significant, and financial efficiency was positive and insignificant to growth in the sector . The study concludes that financial deepening has positive effect on growth in the agricultural sector within the reviewed period. In light of the empirical findings, the following recommendations were made: that CBN should implement policies geared towards enhancing financial inclusion to enable Nigeria citizens and prospective farmers to have easy access to affordable financial services and also to encourage commercial banks to increase credit facilities to both farmers and private sector so as to increase Agricultural production in the Nigerian economy.
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Papers by Simeon Obode
The study employed time series data ranging from 1982 to 2023. Economic growth is
expressed by Real Gross Domestic Product (RGDP) with interest rate, exchange rate, money
supply and foreign direct investment serving as monetary policy variables or instruments.
The study adopted the ex post facto research design due to its unique quality of being able to
examine the cause –and- effect relationship between dependent variables and regressors. The
method of data analysis was Auto regressive distributed lag (ARDL) model. The empirical
result shown, while foreign direct investment and exchange rate have positive and significant
effect on real GDP, money supply (M2) has negative significant impact on real GDP and
interest rate was found to be positive and insignificant to real GDP. The study concludes that
monetary policy has positive impact on economic growth in Nigerian during the reviewed
period. Owing to the findings, the study recommends that monetary authority should
implement policy that will enhance foreign direct investment and optimize exchange rate
management in the country.
The study employed time series data ranging from 1982 to 2023. Economic growth is
expressed by Real Gross Domestic Product (RGDP) with interest rate, exchange rate, money
supply and foreign direct investment serving as monetary policy variables or instruments.
The study adopted the ex post facto research design due to its unique quality of being able to
examine the cause –and- effect relationship between dependent variables and regressors. The
method of data analysis was Auto regressive distributed lag (ARDL) model. The empirical
result shown, while foreign direct investment and exchange rate have positive and significant
effect on real GDP, money supply (M2) has negative significant impact on real GDP and
interest rate was found to be positive and insignificant to real GDP. The study concludes that
monetary policy has positive impact on economic growth in Nigerian during the reviewed
period. Owing to the findings, the study recommends that monetary authority should
implement policy that will enhance foreign direct investment and optimize exchange rate
management in the country.