International records / OpenAlex research

Exchange Rate Volatility and Its Effect on Domestic Price Stability in Nigeria

This study investigates the effect of exchange rate volatility on domestic price stability in Nigeria, focusing on the roles of nominal exchange rate, real exchange rate, exchange rate volatility, and parallel market exchange rate in determining inflation. Using annual time-series data spanning from 1986 to 2024, the study employs the Augmented Dickey-Fuller (ADF) unit root test to examine stationarity properties, the Johansen cointegration test to determine the existence of long-run relationships, and the Error Correction Model (ECM) to analyze both short-run and long-run dynamics. The ADF re…