Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/237427 
Erscheinungsjahr: 
2020
Quellenangabe: 
[Journal:] CBN Journal of Applied Statistics [ISSN:] 2476-8472 [Volume:] 11 [Issue:] 2 [Publisher:] The Central Bank of Nigeria [Place:] Abuja [Year:] 2020 [Pages:] 1-28
Verlag: 
The Central Bank of Nigeria, Abuja
Zusammenfassung: 
This study investigates the relationship between exchange rate volatility and cur-rency substitution in Nigeria, using Autoregressive Distributed Lag (ARDL) model.After accounting for the presence of structural breaks, evidence from the findingsshows that domestic interest rate and expected changes in exchange rate are impor-tant determinants of currency substitution. In addition, there is empirical supportfor a positive relationship between exchange rate volatility and currency substitu-tion both in the short- and long-run. This implies that higher real exchange ratevolatility is associated with an increased level of currency substitution. In view ofthese findings, the paper calls for sustained efforts by the monetary authority incontaining exchange rate volatility and inflation as a way of curbing the spate ofcurrency substitution in the country.
Schlagwörter: 
Autoregressive distributed lag
currency substitution
exchange ratevolatility
structural breaks
JEL: 
C5
F3
F31
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
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