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作者 Obiora, Kingsley I
書名 Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debateon Decoupling and Spillovers
出版項 Washington : International Monetary Fund, 2009
©2009
國際標準書號 9781452798493 (electronic bk.)
9781451873658
book jacket
說明 1 online resource (31 pages)
text txt rdacontent
computer c rdamedia
online resource cr rdacarrier
系列 IMF Working Papers
IMF Working Papers
附註 Intro -- Contents -- I. Introduction -- II. Trade and Financial Linkages -- III. Description of Data -- IV. Methodology -- V. Results -- A. Base Vector Autoregression Model -- B. Extended Vector Autoregression Model -- VI. Channels of Spillovers -- VII. Conclusions and Lessons for Policy -- Tables -- 1. Partnership Between Nigerian Banks and Foreign Asset Managers -- 2. Results of Unit Root Tests Using the Ng-Perron Procedure -- 3. Lag Length Selection -- 4. Variance Decomposition for Nigeria's Real GDP (Base VAR Model) -- 5. Variance Decomposition for Nigeria's Real GDP (Extended VAR Model) -- Figures -- 1. Nigeria's Trade Openness (in percent of GDP, 1991-2008) -- 2. Nigeria: Direction of Trade in Goods and Services (in percent of total, 1990-2007) -- 3 Nigeria: Main Exports Markets in the EU (1990-2007) -- 4. Net Foreign Direct Investment in Nigeria (in billions of US Dollars, 1980-2008) -- 5. Remittances to Nigeria (in millions of US Dollars, 1995-2007) -- 6. Business Cycle Correlations Between Nigeria and its Key Trading Partners -- 7. Quarterly Real GDP Growth Rates -- 8. Nigeria: GDP Growth Responses to 1 Percent Shocks from Major Trading Partners and PPP-implied Exchange Rate (Base VAR Model)……. -- 9. Nigeria: GDP Growth Responses to 1 Percent Shocks from Major Trading Partners, Oil Price Growth, and PPP-implied Exchange Rate (Extended VAR Model)……. -- 10. Decomposition of Spillovers from Nigeria's Key Trading Partners -- References -- Appendix -- 1. VAR Granger Causality/Block Exogeneity Wald Test
Should policymakers still be concerned about economic growth in trading partners? Have developing and emerging market countries decoupled from the US enough to grow despite significant recession in the US? Using VAR models, this paper addresses these questions for Nigeria in the context of the global crisis. The results seem to debunk the "decoupling theory" and suggest there are still significant spillovers from Nigeria''s main trading partners, including the US, with trade and commodity price linkages being the dominant transmission channels. Given the sharp fall in both trade financing and commodity prices in aftermath of the crisis, these results provide some explanation to the realization of adverse second-round effects in Nigeria
Description based on publisher supplied metadata and other sources
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2020. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries
鏈接 Print version: Obiora, Kingsley I. Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debateon Decoupling and Spillovers Washington : International Monetary Fund,c2009 9781451873658
主題 Global Financial Crisis, 2008-2009.;Financial crises -- Nigeria -- Econometric models.;Nigeria -- Commerce -- Econometric models.;Nigeria -- Economic conditions -- Econometric models
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