Critical factors affecting Nigeria's foreign exchange flows

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dc.contributor.authorNwaoba, Peter I.
dc.date.accessioned2018-10-25T08:16:55Z
dc.date.available2018-10-25T08:16:55Z
dc.date.issued1999-09
dc.description.abstractThis study articulates main factors that affected foreign exchange flows in Nigeria between 1987 and 1997. Foreign exchange inflow is made up of autonomous receipts. gifts and borrowed resources. Factors such as exchange rate, monetary expansion and fiscal imbalances, capital flight, excessive and spurious demand for foreign exchange and debt service burden, were identified in the study as factors which affect foreign exchange. Results from the regression analysis indicated that all the variables met a priori expectations in terms of statistical significance and correctness of signs. The study also established a significant impact of imports and external debt burden on foreign exchange flow, resulting partly from the absence of genuine industrialisation strategy that could lead to the diversification of the country's export base. It further showed that the gains of any policy could impact more on the economy if the exchange rate is properly aligned to its realistic level through appropriate exchange rate management strategy that will encourage repatriation of export proceeds without coercion, boost foreign direct investment and curtail capital flight.en_US
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dc.description.provenanceMade available in DSpace on 2018-10-25T08:16:55Z (GMT). No. of bitstreams: 1 Critical factors affecting nigeria's foreign exhange flows.pdf: 342868 bytes, checksum: 3543c67ca121c81979344d4e2ece0385 (MD5) Previous issue date: 1999-09en
dc.description.sponsorshipCentral Bank of Nigeriaen_US
dc.identifier.citationNwaoba, P. I. (1999). Critical factors affecting Nigeria's foreign exhange flows. Economic and Financial Review, 37(3), 1-17.en_US
dc.identifier.issn1957 - 2968
dc.identifier.urihttp://repo.cbn.gov.ng/jspui/handle/123456789/519
dc.language.isoenen_US
dc.publisherCentral Bank of Nigeria, Research Department.en_US
dc.relation.ispartofseriesVol. 37;No. 3
dc.subjectForeign exchange flowsen_US
dc.subjectNigeriaen_US
dc.subjectDebt serviceen_US
dc.titleCritical factors affecting Nigeria's foreign exchange flowsen_US
dc.typeArticleen_US

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