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M. ABIMBOLA OYINLOLA,M. ADETUNJI BABATUNDE 중앙대학교 경제연구소 2009 Journal of Economic Development Vol.34 No.2
This paper examines the extent of pass-through of exchange rate into import prices for Nigeria between 1980 and 2006 using the recently developed UECM-Bounds test proposed by Pesaran et al. (2001). Empirical evidence reveals that world export prices has a dominant effect compared to exchange rate in explaining changes in Nigeria’s import prices in the short and long run. The major implication for our study therefore is that exogenous factors such as world export prices appeared to be more important determinants of domestic import prices than a country’s exchange rate policies.
M. ABIMBOLA OYINLOLA;M. ADETUNJI BABATUNDE 경제연구소 2009 Journal of Economic Development Vol.34 No.2
This paper examines the extent of pass-through of exchange rate into import prices for Nigeria between 1980 and 2006 using the recently developed UECM-Bounds test proposed by Pesaran et al. (2001). Empirical evidence reveals that world export prices has a dominant effect compared to exchange rate in explaining changes in Nigeria’s import prices in the short and long run. The major implication for our study therefore is that exogenous factors such as world export prices appeared to be more important determinants of domestic import prices than a country’s exchange rate policies.