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The Impact of Global Oil Prices on the Nigerian Economy: Evidence Markov Regime-Switching Models

It is widely known fact that global oil prices shocks and its substantial consequence on real macroeconomic output still remain a significant issue bedevilling a number of world economies. This study examines the impact of global oil price on macroeconomics variables in Nigeria using Markov Regime Switching (MRS) models. The unit root test of ADF and PP indicated all the variables employed are stationery at first difference. The study found that the estimates lend support to the presence of regime switching for the effects of oil price shocks on real gross domestic product. It was observed tha…

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    from https://iiardjournals.org/get/IJEBM/VOL. 11 NO. 2 2025/The Impact of Global 201-218.pdf