International records / OpenAlex research

Oil Price Shock and Trade Balance in Nigeria

This study used the Brent crude oil price to examine whether the variability in the trade balance of Nigeria is linked to the fluctuation in oil price.To achieve this, the study used annual frequency data from 1981 to 2021 sourced from the United Nations Conference on Trade and Development (UNCTAD), the World Bank’s World Development Indicator (WDI), and the Central Bank of Nigeria (CBN) Statistical Bulletin. The bound test procedure to cointegration was adopted and the nexus between oil shock and trade balance was examined within the autoregressive distributed lag (ARDL) framework. Additional…