IMPACT OF EXCHANGE RATE ON AGGREGATE DEMAND IN NIGERIA (1990- 2023)
Abstract
This study examines the impact of exchange rate on aggregate demand in Nigeria, using the
Autoregressive Distributed Lag (ARDL) model. The variables employed in the study include
exchange rate, consumption, investment, and government spending. The results of the study
reveal the significance of exchange rate in determining aggregate demand in Nigeria. The study
also finds that consumption, investment, and government spending are significant determinants
of aggregate demand in Nigeria. The results of this study have important implications for
monetary and fiscal policy makers in Nigeria, highlighting the need for a stable exchange rate
regime to promote aggregate demand and economic growth.
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