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Title Examination Of The Relationship Between Oil Price Shock And Macroeconomic Variables In Nigeria
Authors Awujola, A.
Iyakwari, A.D.B.
Bot, R.E
ORCID
Keywords ціна нафти
цена на нефть
oil price
макроекономічні змінні
макроэкономические переменные
macroeconomic variables
енергетичні потреби
потребности в энергии
energy needs
Організація країн-експортерів нафти
Организация стран-экспортеров нефти
Organization of Petroleum Exporting Countries
Дікі-Фуллер розширений тест
расширенный тест Дики-Фуллера
dickie-Fuller extended test
експортери нафти
экспортеры нефти
petroleum exporters
Type Article
Date of Issue 2020
URI https://essuir.sumdu.edu.ua/handle/123456789/77475
Publisher Sumy State University
License
Citation Awujola, A., Iyakwari, A. D. B., Bot, R. E. (2020). Examination Of The Relationship Between Oil Price Shock And Macroeconomic Variables In Nigeria. SocioEconomic Challenges, 4(1), 102-110. http://doi.org/10.21272/sec.4(1).102-110.2020.
Abstract The price of oil is one of the important macroeconomic indicators because of the extreme importance of supplying oil to different countries of the world to meet their energy needs. As Nigeria’s economy depends on oil prices, the country remains vulnerable to fluctuations in world oil prices. During periods of rising oil prices caused by macroeconomic and political conditions in the international market, the state usually has a positive trade balance, there is an increase in foreign exchange reserves and the revaluation of the national currency. The purpose of the article is to evaluate the relationship between oil price change and Nigeria’s economic growth rate using regression analysis.
Appears in Collections: SocioEconomic Challenges (SEC)

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