Global Advanced Research Journal of Economics, Accounting and Finance (GARJEAF)
November 2012 Vol. 1(1), pp. 001-008
Copyright © 2012 Global Advanced Research Journals

Full Length Research Paper

The effects of foreign exchange regimes on industrial growth in Nigeria

Owolabi A. Usman and Adegbite Tajudeen Adejare

Department of Management And Accounting, Ladoke  Akintola University of Technology, Ogbomoso. 

Corresponding author Email: adetajud@yahoo.com

Accepted 02 November, 2012

Abstract

The study empirically examines the Effect of Foreign Exchange Regimes on Industrial Growth in Nigeria, in line with the objectives of this study, secondary data were obtained from Central Bank of Nigeria Statistical Bulletin covering the period of 1985 to 2005.In concluding the analysis, multiple regressions were employed to analyze data on such variables as Gross Domestic Product, World Price Index, Per Capita Income, and Net Export. Exchange rate (broadly define, narrowly define and quasi money) were all found to have significant effects on the Economics Growth with the Adjusted R² of 69%. Following the outcome of this study, it is therefore concluded that the effect of using Foreign exchange, World Price Index, Per Capita Income, and Net Export as an inducement for greater performance for stable economic growth and are capable of giving stability in prices for manufactured goods.

Keywords: Foreign Exchange; Real Growth; Nigeria Economy.