Empirical investigation of internal and external shocks on exchange rate volatility in Nigeria - Chinonso Oliver, Ugwuja
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Bachelor Thesis from the year 2017 in the subject Economics - Case Scenarios, grade: 2.1, University of Nigeria, course: ECONOMICS, language: English, abstract: The embracement of the International monetary funds' (IMF) structural adjustment programme (SAP) in 1986 brought the Bretton-Woods system which marked a period of the largest experiment of the pegged exchange rate regimes in the post-World War II era to its knees. Ever since then, there has been a recoded high degree of volatility in the exchange rate of the naira vis-à-vis the US dollars.In this regard, this study seeks to examine…mehr

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Produktbeschreibung
Bachelor Thesis from the year 2017 in the subject Economics - Case Scenarios, grade: 2.1, University of Nigeria, course: ECONOMICS, language: English, abstract: The embracement of the International monetary funds' (IMF) structural adjustment programme (SAP) in 1986 brought the Bretton-Woods system which marked a period of the largest experiment of the pegged exchange rate regimes in the post-World War II era to its knees. Ever since then, there has been a recoded high degree of volatility in the exchange rate of the naira vis-à-vis the US dollars.In this regard, this study seeks to examine other sources of shocks to the exchange rate fluctuations in Nigeria relying on time series data covering the periods 1986-2015. To execute this effectively, the Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model introduced by Tim Bollerslev (1986) was used to decompose these shocks into internal and external sources. Also, the time series properties of the data used were explored and the stationarity conditions of the chosen variables were examined by the help of ADF unit root test under three different test regression equations.However, the GARCH (1 1) volatility forecasting result reveals that volatility shock is present and persistent and concludes that the fluctuations in the Real exchange rate of the naira is responsive to both domestic and international shocks. Consequently, this study recommends that policies be adopted to tame the degree of volatility in exchange rate because of the deleterious effect it could have on foreign transactions. Furthermore, to make the work more enticing and attractive to the readers, we sectionalized this study into Chapters; chapter one for introduction, chapter two for literature review, chapter three for Research methodology, chapter four for the presentation and analysis of empirical findings and chapter five.
Autorenporträt
Ugwuja Chinonso Oliver (ACIEHS, ACICRM, GNIM) is a multidimensional economist, business analyst, banker, and chartered manager certified by the Nigerian Institute of Management, and a passionate teacher. He has been a research consultant since 2016 with over six published research papers and eBooks. Chinonso is proficient in statistical and econometric modeling with special skills in using E-VIEWS, STATA, SPSS, EXCEL, and other software, including BANKONE and EasyBankAX. His position has been beneficial to many scintillating researchers in economics and other related disciplines. He has helped students to acquire indelible knowledge that has helped them scale through their public examinations. His banking, management, and audit profession has continuously helped companies grow their revenues and increase their customer base. His writing skills attracted sponsorship to a lounge where he worked as an inventory controller/internal auditor. Chinonso studied economics at the University of Nigeria. He obtained a Second-Class Upper Division (Magnum Cum Laude) and was honored as a policy critic of the year 2017. He obtained the West African Examinations Certificate (WAEC) with excellent results at Saint Teresa's College, Nsukka, in 2012. His passion for educational advancement and contributing to the development of the global economy by imparting knowledge to others and helping SMEs to grow compelled him to take online courses and obtain a Graduate Diploma in Digital Marketing and Customer Relationship Management (CRM). Chinonso has diverse professional careers in banking, research, teaching, and business. Chinonso Oliver Ugwuja is currently a staff member of the Enugu State Internal Revenue Service (ESIRS), serving in the Area Tax Office with roles in tax assessment, tax collection, and consulting with different organizations on matters relating to tax payment. Chinonso is a partner with Formazione Business School as a facilitator for Skill Acquisition and Entrepreneurship Development (SAED), where he has trained business owners in various skills, including business management, and he is a volunteer with the Financial Inclusion and Literacy Group. Furthermore, he seeks national & international exposure and opportunities to contribute more to the growth of the global economy.