International records / OpenAlex research

External Economic Uncertainty Indicators and Nigeria’s Foreign Exchange Reserve

Following palpable instabilities in critical international economic fundamentals and the implications on the health of individual economies, this study examines selected external economic uncertainty indicators to ascertain effects on foreign exchange reserves accumulation in Nigeria over the sample period, 1986 to 2022. To achieve this goal, data on crude oil price, Eurobonds, food imports bill, exchange rate, debt services and external reserves were sourced from the Statistical Bulletin of the Nigeria’s apex bank, 2023. The processes of Autoregressive Distributed Lag (ARDL) estimation were a…