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Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debateon Decoupling and Spillovers / / Kingsley Obiora



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Autore: Obiora Kingsley Visualizza persona
Titolo: Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debateon Decoupling and Spillovers / / Kingsley Obiora Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica: 1 online resource (47 pages)
Soggetto topico: Global Financial Crisis, 2008-2009
Financial crises - Nigeria - Econometric models
Econometrics
Finance: General
Foreign Exchange
Macroeconomics
Time-Series Models
Dynamic Quantile Regressions
Dynamic Treatment Effect Models
Diffusion Processes
Business Fluctuations
Cycles
Economic Integration
Economic Growth of Open Economies
Externalities
Energy: Demand and Supply
Prices
General Financial Markets: General (includes Measurement and Data)
Currency
Foreign exchange
Econometrics & economic statistics
Finance
Spillovers
Exchange rates
Vector autoregression
Oil prices
Emerging and frontier financial markets
Financial sector policy and analysis
Econometric analysis
Financial markets
International finance
Financial services industry
Soggetto geografico: Nigeria Commerce Econometric models
Nigeria Economic conditions Econometric models
Nigeria
Note generali: "October 2009."
Nota di contenuto: I. Introduction; II. Trade and Financial Linkages; 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); 1. Partnership Between Nigerian Banks and Foreign Asset Managers; 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 RatesIII. Description of Data; 2. Results of Unit Root Tests Using the Ng-Perron Procedure; IV. Methodology; V. Results; A. Base Vector Autoregression Model; 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); 8. Nigeria: GDP Growth Responses to 1 Percent Shocks from Major Trading Partners and PPP-implied Exchange Rate (Base VAR Model); B. Extended Vector Autoregression 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)VI. Channels of Spillovers; 10. Decomposition of Spillovers from Nigeria's Key Trading Partners; VII. Conclusions and Lessons for Policy; 1. VAR Granger Causality/Block Exogeneity Wald Test; References; Footnotes
Sommario/riassunto: 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.
Titolo autorizzato: Do Trading Partners Still Matter for Nigeria's Growth? A Contribution to the Debateon Decoupling and Spillovers  Visualizza cluster
ISBN: 1-4623-9814-6
1-4527-9849-4
1-282-84422-9
9786612844225
1-4518-7365-4
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788225403321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2009/218