Examination Of The Relationship Between Oil Price Shock And Macroeconomic Variables In Nigeria

Awujola, A.; Iyakwari, A.D.B.; Bot, R.E

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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	Copyright not evaluated
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)