International records / OpenAlex research

Oil price volatility and economic development: Stylized evidence in Nigeria

The research presented in this study, investigates chiefly the causal relationship between oil prices and key macroeconomic variables in Nigeria in a multivariate framework using times series data from 1980 to 2010. To examine whether there is prediction between oil prices and macroeconomic indicators (inflation, interest rate, exchange rate and real gross domestic product) as well as the impact of oil prices on the applied macroeconomic indicators, this research adopted the Granger causality and the ordinary least squares respectively. After ensuring data stationarity, the results suggest tha…