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Oil Price Shocks, Monetary Policy Transmission and Exchange Rate Stability in Nigeria

This study investigates the empirical effects of global oil price shocks on core monetary policy transmission channels and exchange rate stability in Nigeria, utilizing selected net oil-importing and net oil-exporting African economies as a comparative baseline. Grounded in the theoretical framework of the Real Business Cycle (RBC) model, the study employs an Autoregressive Distributed Lag (ARDL) framework and accounts for potential structural non-linearities using the Asymmetric or Nonlinear ARDL (NARDL) approach. The empirical analysis utilizes three core operational targets of monetary poli…

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    SHA-256 654bd66b9dea3e83145d915776d439fc4a6719bc62f8d14912c9db13ae38e02c
    from https://www.iiardjournals.org/get/IJEFM/VOL. 11 NO. 7 2026/OIL PRICE SHOCKS, MONETARY POLICY 297-304.pdf