Oil price fluctuation and economic growth in nigeria
countries. With China's continuous economic growth and opening up, oil price fluctuations will have greater impact on China's economic growth and stability, Objective: This study examined the relationship between oil price and economic growth in Nigeria using annual time series data for the period 1974-2014 sourced from Central Bank of Nigeria (CBN) statistical bulletin, OPEC and world bank for the year 2014.Methodology: Non-probability sampling method in the form of availability sampling technique has been applied in selecting the number of years The Impact Of Oil Price Changes On The Economic Growth Of Nigeria. ABSTRACT This study examines the impact of oil price changes on the economics growth of Nigeria; this explains that the changes have a negative impact on the GDP (Gross Domestic Product).This change is also known as price volatility. Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test) Umar Muhammad Gummi, Aliyu Isah Buhari and Ahmad Muhammad Department of Economics, Sokoto State University, Sototo, PMB 2134, Nigeria Abstract The study will be also of great importance to student s of economics and other researchers who may have interest in industrial sector or industrialization and its impact on Nigeria economy. Finally, the findings of this study would add to the stock of econometric literature of Nigeria. Still one oil price volatility on Nigeria economic growth. Oil price fluctuations and the Nigerian economy. these studies assume a linear relationship between oil price and economic growth and do not discern the effects of positive and negative shocks
Impact of High Oil Prices on African Economies balance of payments positions and possibly leading to lower economic growth than in the absence of the oil shock. 4.1.1 Literature Review A large number of studies have investigated the macro-economic impact of oil price shocks, focusing in particu-lar on the response of economic growth and consumer
May 5, 2018 PDF | Abstract There has been mixed findings regarding the relationship between oil price fluctuations and the growth of an economy. Fulltext - Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test) Hooker (1996) notes that real growth in GDP prior to 1980 was negatively af- fected by oil price changes. The post-1980 relationship between oil prices, economic. How vulnerable is the Nigerian economy to changes in world energy (especially a negative relationship between oil prices fluctuations and economic growth. Aug 27, 2018 Thus, the upward or downward movement of oil price (fluctuation) has an attendant multiplier effect on crude oil and economic growth in Nigeria.
The challenge of the combined effect of hikes in oil prices and exchange rate instabilities on macroeconomic economic stability and economic growth for oil producing nations like Nigeria is really enormous. Still on ,,,,, Impact of Exchange Rate Fluctuation on Nigeria’s Economic Growth 1981-2015
Aug 27, 2018 Thus, the upward or downward movement of oil price (fluctuation) has an attendant multiplier effect on crude oil and economic growth in Nigeria. Jul 27, 2018 On this basis, the state of Nigeria's economy is clearly abnormal. The literature on the fluctuations in oil prices and the consequences on the Finally, an oil price change above the threshold level explains the variation in GDP growth better than the real interest rate. More countries specific studies and relationship between oil price volatility and Nigeria economic growth. This implies that oil price changes determines government expenditure level, rate of Oil is a commodity, and as such, it tends to see larger fluctuations in price than Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela. Mar 11, 2020 Low oil prices are dangerous for Nigeria; but it should take the opportunity amongst key OPEC and non-OPEC actors, fueling a new era of volatility. While non-oil GDP growth has shown welcome signs of improvement in (2012) showed the evidence that stable energy prices (including crude oil) would boost GDP growth and the economy would perform better in such situation.
Download the complete economics project topic and material (chapter 1-5) titled CRUDE OIL PRICE FLUCTUATIONS AND ECONOMIC GROWTH IN NIGERIA (1985-2015) here on PROJECTS.ng. See below for the abstract, table of contents, list of figures, list of tables, list of appendices, list of abbreviations and chapter one. Click the DOWNLOAD NOW button to get the complete project work instantly.
2 COMMODITY PRICES AND ECONOMIC. DEVELOPMENTS by commodity price changes and more while dampening money and credit growth in the short 9 Nigeria's oil production increased by around 25% between 1999 and 2005.
How to cite this article: Umar Muhammad Gummi, Aliyu Isah Buhari and Ahmad Muhammad, 2017. Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test).
Dec 5, 2016 fluctuations in oil prices on Libya's economic growth. the study found the impact of oil price fluctuations on economic of Nigeria by Using. May 17, 2019 Impact of oil price shocks and exchange rate volatility on economic growth in Nigeria: An empirical investigation. MPPR, Paper No. 16319. Apr 3, 2018 to which oil price volatilities negatively affects the Nigerian economy. and transfers of technology and contributes to economic growth and.
Abstract: Oil price fluctuation is the main source of many economic crises. So, it is vital to Key word: Oil Price Shocks, Economic Growth, OPEC Countries, OECD Countries, VAR Model. Nigerian unrest make a great oil price shock in 2003. Keywords: Oil Price Shock, Government Expenditure, Growth, Oil-Exporting Countries Changes in global oil prices have significant consequences for economic Ayadi, O.F. (2005), “Oil Price Fluctuations and the Nigerian Economy ”, OPEC growth has worked to boost demand for oil and other resources and raise their consider the effects of the oil price upsurge on the world economy, while reviewing Nigeria's strikes, losses from large hurricanes in the Gulf of Mexico and the Middle prices rise substantially, production factors' relative prices may change As a result, large swings in oil prices can come as a surprise, as was the case with factors and finds shifts in expectations of global economic growth and global oil supply largely due to unrest in Libya, Iran, Iraq, and Nigeria, and mostly off-. 2 COMMODITY PRICES AND ECONOMIC. DEVELOPMENTS by commodity price changes and more while dampening money and credit growth in the short 9 Nigeria's oil production increased by around 25% between 1999 and 2005.