International records / OpenAlex research

Impact of Exchange Rate Regime on Non-Oil Export in Nigeria, 2008M1-2024M12

This study examined the regime-dependent impact of exchange rate movements on non-oil export performance in Nigeria from 2008M1 to2025M12 using a Markov-switching regression framework. The analysis reveals that the effect of exchange rate depreciation on exports is neither uniform nor constant over time, but critically conditioned by underlying macroeconomic and structural environments. In the first regime, interpreted as a relatively favourable export regime, exchange rate depreciation exerts a strong and statistically significant positive effect on non-oil exports. In contrast, the second re…