Effect of exchange rate volatility on industrial productivity has been a controversial debate among academia and experts. This study examines effect of exchange rate volatility on industrial productivity, many studies have mixed results on the direction of exchange rate volatility and the scope of the thesis covers 35years 1981 2015 , the pre and post Structural Adjustment Programme while primary and secondary data gathered from the Nigeria industrial sector by questionnaire and time series obtained from the Central Bank of Nigeria statistical bulletin, 2014 2016 were used. The data were estimated using descriptive statistical methods chi square and mean scores and Phillip Perron and Augmented Dickey Fuller used to determine the unit roots and non stationarity among the variables. ARDL and Bound test was applied to determine short and long run co integration among independent and dependent variables. Diagnostic and Normality test applied to test for stability. The F statistics is 159.3 and the R squared is 99.7 shown that variables are jointly significant and model a good fit. The Durbin Watson of 3.04 showed no serial correlation. The results shown that foreign exchange rate has a positive relationship with industrial performance, however, the exchange rate volatility crumbled industrial production as machinery and raw materials are imported for the industry productions, while bank lending rates, FDT, Inflation and PCI have negative coefficient. The ADRL and Bound test revealed a long run relationship among the variables at 5 significance level. The government should pursue currency appreciation as exporter of mono product and encourages non oil exports and discourage Nigerian cosmopolitan pattern of consumptions. Olaleye John Olatunde | Ojomolade Dele Jacob ""Effect of Foreign Exchange Rate Volatility on Industrial Productivity in Nigeria, 1981- 2015"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-3 , April 2019, URL: https://www.ijtsrd.com/papers/ijtsrd22910.pdf
Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/22910/effect-of-foreign-exchange-rate-volatility-on-industrial-productivity-in-nigeria-1981--2015/olaleye-john-olatunde
Effecto exchange rate fluctuations on manufacturing sector in nigeriaAlexander Decker
This document summarizes a research paper that examines the effects of exchange rate fluctuations on Nigeria's manufacturing sector from 1985 to 2010. It uses variables like manufacturing GDP, foreign investment, employment, and exchange rates. The study found that exchange rates and foreign investment have a positive impact on manufacturing GDP. It recommends that the government promote export diversification, restrict imports of goods also made in Nigeria, and maintain a stable exchange rate to improve the manufacturing sector performance. The paper provides context on Nigeria's fluctuating exchange rates over time and reviews several other studies that also found exchange rates influence economic growth and agricultural exports.
Effect of international trade on economic growth in kenyaAlexander Decker
This document analyzes the effect of international trade on economic growth in Kenya from 1960 to 2010. It uses a multiple linear regression model to examine the relationship between GDP growth rate and several independent variables including exchange rate, inflation, and final government consumption. The findings show that exchange rate had no significant effect on GDP growth, while inflation had a negative and significant effect. Final government consumption had a positive effect on GDP growth in Kenya. The study recommends policies to promote exports, maintain low inflation, and encourage government expenditure on development projects.
THE IMPACT OF TRADE LIBERALIZATION ON ECONOMIC GROWTH; THE CASE OF SUB-SAHARA...AkashSharma618775
The main aim of this research is to explore the effect of trade liberalization on economic growth in subSaharan Africa by analyzing certain macro-economic indicators using Ordinary Least Squares approach to
estimate regression equations. Many developing countries have substantially liberalized their trade regime over the
past three decades, either unilaterally or as part of multilateral initiatives. Nevertheless, trade barriers remain
high in many developing countries. One of the concerns that attributes to the reluctance of many of these countries
to liberalize their trade regime is the possible worsening of the trade balance.
This research paper is meant to give a recommendation on which macro-economic indicators sub-Saharan African
countries should pay particular attention to, implementing the necessary policies to ensure its effectiveness thereby
ensuring a step-up in those aspects of the economy in order to promote development. It considers 46 different
countries with different economic policies in sub-Saharan Africa for a 14-year period. Most papers considering
sub-Saharan African region consider a selected few countries based on certain economic reasons of their choice,
and those who consider most countries in the region have different macroeconomic indicators they employ for their
modeling. This paper considers if not all, almost all sub-Saharan African countries regardless of their economic
status.
The performance of manufacturing sector and utilization capacity in nigeriaorlhawahlay
This document is a research paper on the performance of Nigeria's manufacturing sector and capacity utilization between 1985-2009. It aims to assess capacity utilization in the manufacturing sector and identify factors influencing it. The paper finds that capacity utilization has declined in Nigeria, currently around 45%, due to challenges like poor infrastructure, high costs, and macroeconomic instability. Regression analysis indicates that inflation reduces capacity utilization while exchange rates, loans, and per capita income positively impact utilization. The paper concludes Nigeria must address infrastructure, costs, and policies to restore the manufacturing sector.
A survey of foreign exchange rate determinants in nigeriaAlexander Decker
The document presents a study that investigates factors that determine foreign exchange rates in Nigeria over the period 1960-2011. Regression analysis was used to analyze the relationship between the foreign exchange rate and several independent macroeconomic variables including GDP, balance of payments, external reserves, inflation, deposit rates, and lending rates. The results of the regression showed no statistically significant relationship between the foreign exchange rate and any of the independent variables over the time period analyzed.
The document discusses how economic growth and changes in factors of production, technology, and tastes can impact international trade. It examines different types of factor growth, technical progress, and their effects on production possibilities and trade. Growth can lead to increased, decreased, or unchanged trade volumes depending on whether production and consumption effects are pro-trade or anti-trade. In large countries, growth impacts welfare through terms-of-trade and wealth effects, and can potentially cause immiserizing growth under certain conditions. Growth and changes in both trading nations will shift their production possibilities and can influence trade volumes and terms of trade.
The document provides an overview of key economic concepts including microeconomics, macroeconomics, positive economics, normative economics, demand, determinants of demand, law of demand, supply, determinants of supply, law of supply, market structures, economic growth, factors affecting economic growth, sectors of the Indian economy, inflation, deflation, balance of trade, balance of payments, GDP, GNP, NNP, purchasing power parity, human development index, and classifications of countries based on their level of economic development.
This document discusses macroeconomic models, including long-run, medium-run, and short-run models. The long-run model focuses on economic growth and productivity determining output. The medium-run model shows how the economy transitions from short-run to long-run. The short-run model analyzes how output and unemployment fluctuate with demand. Macroeconomics analyzes economic growth, fluctuations, and the impact of policies on goods, labor, and asset markets at an aggregate level.
Effecto exchange rate fluctuations on manufacturing sector in nigeriaAlexander Decker
This document summarizes a research paper that examines the effects of exchange rate fluctuations on Nigeria's manufacturing sector from 1985 to 2010. It uses variables like manufacturing GDP, foreign investment, employment, and exchange rates. The study found that exchange rates and foreign investment have a positive impact on manufacturing GDP. It recommends that the government promote export diversification, restrict imports of goods also made in Nigeria, and maintain a stable exchange rate to improve the manufacturing sector performance. The paper provides context on Nigeria's fluctuating exchange rates over time and reviews several other studies that also found exchange rates influence economic growth and agricultural exports.
Effect of international trade on economic growth in kenyaAlexander Decker
This document analyzes the effect of international trade on economic growth in Kenya from 1960 to 2010. It uses a multiple linear regression model to examine the relationship between GDP growth rate and several independent variables including exchange rate, inflation, and final government consumption. The findings show that exchange rate had no significant effect on GDP growth, while inflation had a negative and significant effect. Final government consumption had a positive effect on GDP growth in Kenya. The study recommends policies to promote exports, maintain low inflation, and encourage government expenditure on development projects.
THE IMPACT OF TRADE LIBERALIZATION ON ECONOMIC GROWTH; THE CASE OF SUB-SAHARA...AkashSharma618775
The main aim of this research is to explore the effect of trade liberalization on economic growth in subSaharan Africa by analyzing certain macro-economic indicators using Ordinary Least Squares approach to
estimate regression equations. Many developing countries have substantially liberalized their trade regime over the
past three decades, either unilaterally or as part of multilateral initiatives. Nevertheless, trade barriers remain
high in many developing countries. One of the concerns that attributes to the reluctance of many of these countries
to liberalize their trade regime is the possible worsening of the trade balance.
This research paper is meant to give a recommendation on which macro-economic indicators sub-Saharan African
countries should pay particular attention to, implementing the necessary policies to ensure its effectiveness thereby
ensuring a step-up in those aspects of the economy in order to promote development. It considers 46 different
countries with different economic policies in sub-Saharan Africa for a 14-year period. Most papers considering
sub-Saharan African region consider a selected few countries based on certain economic reasons of their choice,
and those who consider most countries in the region have different macroeconomic indicators they employ for their
modeling. This paper considers if not all, almost all sub-Saharan African countries regardless of their economic
status.
The performance of manufacturing sector and utilization capacity in nigeriaorlhawahlay
This document is a research paper on the performance of Nigeria's manufacturing sector and capacity utilization between 1985-2009. It aims to assess capacity utilization in the manufacturing sector and identify factors influencing it. The paper finds that capacity utilization has declined in Nigeria, currently around 45%, due to challenges like poor infrastructure, high costs, and macroeconomic instability. Regression analysis indicates that inflation reduces capacity utilization while exchange rates, loans, and per capita income positively impact utilization. The paper concludes Nigeria must address infrastructure, costs, and policies to restore the manufacturing sector.
A survey of foreign exchange rate determinants in nigeriaAlexander Decker
The document presents a study that investigates factors that determine foreign exchange rates in Nigeria over the period 1960-2011. Regression analysis was used to analyze the relationship between the foreign exchange rate and several independent macroeconomic variables including GDP, balance of payments, external reserves, inflation, deposit rates, and lending rates. The results of the regression showed no statistically significant relationship between the foreign exchange rate and any of the independent variables over the time period analyzed.
The document discusses how economic growth and changes in factors of production, technology, and tastes can impact international trade. It examines different types of factor growth, technical progress, and their effects on production possibilities and trade. Growth can lead to increased, decreased, or unchanged trade volumes depending on whether production and consumption effects are pro-trade or anti-trade. In large countries, growth impacts welfare through terms-of-trade and wealth effects, and can potentially cause immiserizing growth under certain conditions. Growth and changes in both trading nations will shift their production possibilities and can influence trade volumes and terms of trade.
The document provides an overview of key economic concepts including microeconomics, macroeconomics, positive economics, normative economics, demand, determinants of demand, law of demand, supply, determinants of supply, law of supply, market structures, economic growth, factors affecting economic growth, sectors of the Indian economy, inflation, deflation, balance of trade, balance of payments, GDP, GNP, NNP, purchasing power parity, human development index, and classifications of countries based on their level of economic development.
This document discusses macroeconomic models, including long-run, medium-run, and short-run models. The long-run model focuses on economic growth and productivity determining output. The medium-run model shows how the economy transitions from short-run to long-run. The short-run model analyzes how output and unemployment fluctuate with demand. Macroeconomics analyzes economic growth, fluctuations, and the impact of policies on goods, labor, and asset markets at an aggregate level.
1. Trade can boost development by generating economic growth through increased commercial opportunities and investment, as well as diversifying production. Countries that increased trade between 2000-2008 saw GDP per capita rise significantly.
2. Trade enhances competitiveness by helping countries reduce input costs, acquire foreign investment and technology, increase value added in products, and move up global supply chains. Emerging economies have grown rapidly through increased trade.
3. Opening trade allows access to new markets and materials, expanding production possibilities. India's industrial output grew 50% after trade reforms that increased access to intermediate goods.
Agricultural Export, Oil Export and Economic Growth in Nigeria: Multivariate ...Agriculture Journal IJOEAR
Abstract—Sustaining of nation’s economic growth for better footing and outlook is very crucial for the globe of recent, most especially for developing countries like Nigeria. The country as a vivid example of a developing nation is oil based economy, which adopts export promotion policy as the essentialtactic for growth. Yet the nation has not maximized her abundance of resources to aids growth, despite notable economic growth being experienced. In this view, there is an attempt to examine the relationship among agricultural export, oil export and output growth in Nigeria. The causal relationship among the variables was investigated by using times series data for the period between 1981 and 2014. All the macroeconomic variables were found to be stationary. The study revealed that there is significant relationship between economic growth and the agricultural export and oil export. Based on the findings, government of the country is being advised to initiate new and re-defined old policies that will diversify the export base. Likewise, policies that will improveand aid the nation’s domestic production is being encouraged, since long run relationship has been established among the macroeconomic variables.
Working capital management and the performance of selected quoted manufacturi...Alexander Decker
This study examines the relationship between working capital management and the performance of selected quoted manufacturing companies in Nigeria from 2000-2009. Secondary data was collected from annual reports of 60 companies and analyzed using descriptive and inferential statistics. The results showed that average collection period and average payment period were positively related to profitability, while inventory turnover days and cash conversion cycle were negatively related. This implies reducing cash conversion cycle, inventory days, and net trading cycle can increase profits, while increasing average collection and payment periods can also boost profits. In conclusion, efficient working capital management affects the performance of manufacturing firms in Nigeria.
Determinants of Business Performance in the Nigerian Manufacturing Sectorijtsrd
This document summarizes a study that examined the determinants of business performance in Nigeria's manufacturing sector between 1980-2018. The study used secondary data from the Central Bank of Nigeria and an econometric model to analyze the impact of various macroeconomic variables (financial intermediation, infrastructure, market size, exchange rate, interest rate, and inflation rate) on business performance. The results found that financial intermediation, infrastructure, and market size had a positive impact on manufacturing, while exchange rate, interest rate, and inflation had a negative impact. All variables conformed to the study's expectations except infrastructure and inflation rate, and most were statistically significant, indicating they are good determinants of business performance in Nigerian manufacturing. The study recommends over
The Balance of Payment constrained Economic Growth in Ethiopia (3)Naod Mekonnen
This paper aims to empirically test the validity of the balance of payment-constrained economic growth model for Ethiopia from 1971-2008. The model suggests that a country's economic growth is limited by its ability to balance international payments. The author estimates Ethiopia's import demand and tests for cointegration between GDP and exports. The findings show Ethiopia's average growth of 2.84% over the period was significantly lower than the model's predicted rate of 7.42%, indicating the economy has been constrained by balance of payments. Achieving higher, sustainable growth will require strategies to boost technological progress, infrastructure, and policy continuity as well as manage international payments.
This document analyzes the effect of trade liberalization on employment in Tanzania's textile industry through econometric modeling. It reviews literature on the theoretical linkages between trade reforms and labor markets. The study develops models of employment and wages as a function of variables like output, import penetration, export intensity, and technology. It finds that import competition had a larger negative impact on employment than export orientation. Wages also declined with import penetration but were less affected by other factors. The results suggest Tanzania's trade reforms hurt the textile industry's labor market and that a more gradual liberalization coupled with institutional support could have made the reforms more effective.
This document discusses productivity, how it is measured, why it is important, and trends in Canada over recent decades. Productivity is a measure of economic output per unit of input, usually measured as GDP per hour worked. It is important because higher productivity leads to higher standards of living and competitiveness. While Canada saw strong productivity growth from 1961-1975, its growth has slowed since then, averaging 1.4% annually from 1982-1991. This weaker growth has contributed to Canada losing some competitive advantage internationally in recent years. However, some industries and sectors have maintained stronger productivity, and recent signs suggest productivity may be improving again.
This document discusses exports, imports, and economic growth in India based on a study conducted by Dr. K. Sathiya. It summarizes the literature on export-led growth and import-led growth hypotheses and examines the causal relationship between exports, imports, and GDP in India from 1951/52 to 2003/2004. The results show that exports and imports individually and jointly Granger-cause GDP, supporting export-led growth and import-led growth. There is also some evidence that GDP jointly Granger-causes imports and exports. The findings imply that both exports and imports have positively impacted India's economic growth.
The document summarizes key concepts from the standard trade model, including:
1) Economic growth is usually "biased" toward certain sectors, changing relative supply and terms of trade. Export-biased growth reduces a country's terms of trade while import-biased growth increases them.
2) International transfers of income, such as foreign aid, can affect relative demand curves and terms of trade in complex ways depending on countries' spending behaviors.
3) While the model predicts that import-biased growth in countries like China should reduce U.S. welfare, data shows terms of trade impacts have been both positive and negative for developing and high-income countries.
The document compares India's terms of trade with 3 developing countries (Bangladesh, Brazil, Iran) and 3 developed countries (Australia, Netherlands, Italy). It provides background on terms of trade and how it is calculated. For each country, it gives the most recent terms of trade adjustment value according to World Bank data and some key facts about each country's economy and trade. India saw improvements in terms of trade from 2008-2010 while most of the developing countries saw deteriorations over the same period.
This document provides definitions and diagrams related to macroeconomics concepts including:
- Definitions of macroeconomics, national income, GDP, GNP, real GDP
- Circular flow diagrams showing flows between households, firms, government
- Components of aggregate demand and supply
- Causes of shifts in aggregate demand and short-run aggregate supply
- Business cycles and use of diagrams to illustrate macroeconomic goals
- Unemployment, inflation, and Phillips curve concepts
- Monetary and fiscal policy approaches and their strengths/weaknesses
This document provides an overview of macroeconomics concepts including national income, aggregate demand and supply, the business cycle, unemployment and inflation, and income distribution. It defines key macroeconomic goals such as economic growth and price stability. It also discusses how macroeconomic equilibrium can be achieved through fiscal and monetary policy and explores supply-side policies and models including the multiplier effect, Phillips curve and NAIRU.
AS Macro Exam Tekkers (Unit 2) 2013 versiontutor2u
1) The document provides information on macroeconomics exam structure, content, and tips.
2) The exam is 90 minutes with 80 marks and focuses on AD/AS analysis and effects of economic policies and factors.
3) Students must demonstrate knowledge, application, analysis, and evaluation skills and should practice applying command words like "explain", "analyze", and "evaluate".
A study on industrial agglomeration in manufacturing sector of pakistan using...Alexander Decker
This document analyzes industrial agglomeration in Pakistan's manufacturing sector from 2000 to 2012. It finds that industrial concentration has increased steadily over this period using the Ellison-Glaeser index to measure geographic concentration. Some key industries like other manufacturing are highly localized in only one district, indicating importance of technological spillovers. The study develops an understanding of Pakistan's industrial transformation and spatial distribution of manufacturing industries, with implications for regional development policies.
This chapter discusses demand, supply, and market equilibrium. It defines key concepts such as demand and supply curves, quantity demanded and supplied, equilibrium price and quantity, excess demand and supply. The chapter explains the laws of demand and supply - that demand curves slope downward and supply curves slope upward. It discusses how individual demand and supply combine to form market demand and supply curves and how equilibrium is reached at the price where quantity demanded equals quantity supplied. The chapter also provides examples and diagrams to illustrate these concepts.
The document analyzes economic growth in Darkhan-Uul province from 2000-2017. It finds that GDP grew at an average annual rate of 11.3% over this period, driven primarily by increases in labor productivity rather than employment. The economy transitioned from agriculture to industry and services, with services becoming the largest sector. Labor productivity accounted for over 50% of GDP growth, with the remaining growth from increased employment. Multiple factors influenced growth, including higher labor productivity, more days worked per employee, and increases in population and the labor force.
The impact of some economic factors on imports in jordanAlexander Decker
The document analyzes factors that impact imports in Jordan using a multiple linear regression model. It finds that imports are most strongly influenced by consumer price index (CPI), remittances, relative prices, and exchange rates. While GDP and remittances were not statistically significant predictors in the initial model, further analysis found issues with multicollinearity between some variables. Addressing this by using standardized variables and stepwise selection resulted in a better fitting model with CPI as the most important predictor of imports in Jordan.
The document discusses the standard trade model and gains from trade. It introduces a 2x2x2 model with two countries producing two goods using two factors of production. Opening trade leads to gains for both countries as production and consumption move to new equilibrium points that exploit each country's comparative advantage. The terms of trade adjust to balance trade between the countries. Economic growth can impact a country's terms of trade depending on whether it is export- or import-biased. Government policies like tariffs, subsidies, and transfers also affect equilibrium terms of trade.
With the collapse of US mortgage market due to sub-prime lending, the global financial system is completely shattered. The UK financial markets were also not able to resist to this economy fall-down. The combination of credit crunch and falling housing market resulted in a recession in the UK market (Richardson, 2011). Recession can be defined as fall in real GDP of a country. Alternatively, it can be defined as, for the two consecutive quarters, if economic growth shows negative trend; i.e. if there is a fall in the real output of the country for consecutively six months (King and Cushman, 1997).
Macroeconomic Variables and Manufacturing Sector Output in Nigeriaijtsrd
Management of macroencomic variables has been noted as instrumental to a well performing manufacturing sector. This study thus examined the effect of macroencomic variables on the manufacturing sector in Nigeria within a liberalised economic era of 1986 to 2018. The Autoregressive Distributive Lag model was employed for data analysis. The results revealed that macroeconomic variables has 93 significant short run policy effect but no significant long run effects on manufacturing sector output in Nigeria. The endogenous dynamics of manufacturing sector previous year outputs exerted a significance influence on the macroeconomic variables long run relationship effect on current year. The explanatory variables suggested that money supply M2 , interest rate INTR and credit to private sector CPS exerted positive effects on manufacturing sector output at short term trends. The study thus posits that macroeconomic variables have varying levels of effects on the manufacturing sectors of Nigerian economy. The monetary authority should employ the monetary policy stance in a pattern that increases money supply in order to boost investment in manufacturing sector which would eventual bring about improved output to Nigeria. Dr. Loretta Anayo Ozuah "Macroeconomic Variables and Manufacturing Sector Output in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38420.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/38420/macroeconomic-variables-and-manufacturing-sector-output-in-nigeria/dr-loretta-anayo-ozuah
Exchange Rate Deregulation and Nigeria’s Industrial Output (1970-2015)AJHSSR Journal
The study examined the effect of exchange rate deregulation on the industrial output of Nigeria
over the period 1970 – 2015. Data for the study comprising Nigeria‟s Industrial Sector‟s Output, Exchange Rate,
Capacity Utilization and Inflation Rate were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin
2015 edition. The data were analyzed using Error Correction Model and Ordinary Least Squares technique. The
result of the analysis revealed that exchange rate deregulation impacted positively and significantly on Industrial
output over the long run period. The dummy variable, which was introduced in the data to segment pre-SAP and
post-SAP periods also showed that exchange rate deregulation was beneficial to the industrial sector. In
conclusion, the study recommended that exchange rate should continue to be deregulated and closely monitored
to discourage rent-seekers and price arbitrage. Also, the government should support export-led growth,
particularly in provision of incentives and soft loans to aid in the export of locally produced industrial outputs.
In addition, government should create a favorable and enabling environment for production such as constant
supply of electricity and good road networks.
1. Trade can boost development by generating economic growth through increased commercial opportunities and investment, as well as diversifying production. Countries that increased trade between 2000-2008 saw GDP per capita rise significantly.
2. Trade enhances competitiveness by helping countries reduce input costs, acquire foreign investment and technology, increase value added in products, and move up global supply chains. Emerging economies have grown rapidly through increased trade.
3. Opening trade allows access to new markets and materials, expanding production possibilities. India's industrial output grew 50% after trade reforms that increased access to intermediate goods.
Agricultural Export, Oil Export and Economic Growth in Nigeria: Multivariate ...Agriculture Journal IJOEAR
Abstract—Sustaining of nation’s economic growth for better footing and outlook is very crucial for the globe of recent, most especially for developing countries like Nigeria. The country as a vivid example of a developing nation is oil based economy, which adopts export promotion policy as the essentialtactic for growth. Yet the nation has not maximized her abundance of resources to aids growth, despite notable economic growth being experienced. In this view, there is an attempt to examine the relationship among agricultural export, oil export and output growth in Nigeria. The causal relationship among the variables was investigated by using times series data for the period between 1981 and 2014. All the macroeconomic variables were found to be stationary. The study revealed that there is significant relationship between economic growth and the agricultural export and oil export. Based on the findings, government of the country is being advised to initiate new and re-defined old policies that will diversify the export base. Likewise, policies that will improveand aid the nation’s domestic production is being encouraged, since long run relationship has been established among the macroeconomic variables.
Working capital management and the performance of selected quoted manufacturi...Alexander Decker
This study examines the relationship between working capital management and the performance of selected quoted manufacturing companies in Nigeria from 2000-2009. Secondary data was collected from annual reports of 60 companies and analyzed using descriptive and inferential statistics. The results showed that average collection period and average payment period were positively related to profitability, while inventory turnover days and cash conversion cycle were negatively related. This implies reducing cash conversion cycle, inventory days, and net trading cycle can increase profits, while increasing average collection and payment periods can also boost profits. In conclusion, efficient working capital management affects the performance of manufacturing firms in Nigeria.
Determinants of Business Performance in the Nigerian Manufacturing Sectorijtsrd
This document summarizes a study that examined the determinants of business performance in Nigeria's manufacturing sector between 1980-2018. The study used secondary data from the Central Bank of Nigeria and an econometric model to analyze the impact of various macroeconomic variables (financial intermediation, infrastructure, market size, exchange rate, interest rate, and inflation rate) on business performance. The results found that financial intermediation, infrastructure, and market size had a positive impact on manufacturing, while exchange rate, interest rate, and inflation had a negative impact. All variables conformed to the study's expectations except infrastructure and inflation rate, and most were statistically significant, indicating they are good determinants of business performance in Nigerian manufacturing. The study recommends over
The Balance of Payment constrained Economic Growth in Ethiopia (3)Naod Mekonnen
This paper aims to empirically test the validity of the balance of payment-constrained economic growth model for Ethiopia from 1971-2008. The model suggests that a country's economic growth is limited by its ability to balance international payments. The author estimates Ethiopia's import demand and tests for cointegration between GDP and exports. The findings show Ethiopia's average growth of 2.84% over the period was significantly lower than the model's predicted rate of 7.42%, indicating the economy has been constrained by balance of payments. Achieving higher, sustainable growth will require strategies to boost technological progress, infrastructure, and policy continuity as well as manage international payments.
This document analyzes the effect of trade liberalization on employment in Tanzania's textile industry through econometric modeling. It reviews literature on the theoretical linkages between trade reforms and labor markets. The study develops models of employment and wages as a function of variables like output, import penetration, export intensity, and technology. It finds that import competition had a larger negative impact on employment than export orientation. Wages also declined with import penetration but were less affected by other factors. The results suggest Tanzania's trade reforms hurt the textile industry's labor market and that a more gradual liberalization coupled with institutional support could have made the reforms more effective.
This document discusses productivity, how it is measured, why it is important, and trends in Canada over recent decades. Productivity is a measure of economic output per unit of input, usually measured as GDP per hour worked. It is important because higher productivity leads to higher standards of living and competitiveness. While Canada saw strong productivity growth from 1961-1975, its growth has slowed since then, averaging 1.4% annually from 1982-1991. This weaker growth has contributed to Canada losing some competitive advantage internationally in recent years. However, some industries and sectors have maintained stronger productivity, and recent signs suggest productivity may be improving again.
This document discusses exports, imports, and economic growth in India based on a study conducted by Dr. K. Sathiya. It summarizes the literature on export-led growth and import-led growth hypotheses and examines the causal relationship between exports, imports, and GDP in India from 1951/52 to 2003/2004. The results show that exports and imports individually and jointly Granger-cause GDP, supporting export-led growth and import-led growth. There is also some evidence that GDP jointly Granger-causes imports and exports. The findings imply that both exports and imports have positively impacted India's economic growth.
The document summarizes key concepts from the standard trade model, including:
1) Economic growth is usually "biased" toward certain sectors, changing relative supply and terms of trade. Export-biased growth reduces a country's terms of trade while import-biased growth increases them.
2) International transfers of income, such as foreign aid, can affect relative demand curves and terms of trade in complex ways depending on countries' spending behaviors.
3) While the model predicts that import-biased growth in countries like China should reduce U.S. welfare, data shows terms of trade impacts have been both positive and negative for developing and high-income countries.
The document compares India's terms of trade with 3 developing countries (Bangladesh, Brazil, Iran) and 3 developed countries (Australia, Netherlands, Italy). It provides background on terms of trade and how it is calculated. For each country, it gives the most recent terms of trade adjustment value according to World Bank data and some key facts about each country's economy and trade. India saw improvements in terms of trade from 2008-2010 while most of the developing countries saw deteriorations over the same period.
This document provides definitions and diagrams related to macroeconomics concepts including:
- Definitions of macroeconomics, national income, GDP, GNP, real GDP
- Circular flow diagrams showing flows between households, firms, government
- Components of aggregate demand and supply
- Causes of shifts in aggregate demand and short-run aggregate supply
- Business cycles and use of diagrams to illustrate macroeconomic goals
- Unemployment, inflation, and Phillips curve concepts
- Monetary and fiscal policy approaches and their strengths/weaknesses
This document provides an overview of macroeconomics concepts including national income, aggregate demand and supply, the business cycle, unemployment and inflation, and income distribution. It defines key macroeconomic goals such as economic growth and price stability. It also discusses how macroeconomic equilibrium can be achieved through fiscal and monetary policy and explores supply-side policies and models including the multiplier effect, Phillips curve and NAIRU.
AS Macro Exam Tekkers (Unit 2) 2013 versiontutor2u
1) The document provides information on macroeconomics exam structure, content, and tips.
2) The exam is 90 minutes with 80 marks and focuses on AD/AS analysis and effects of economic policies and factors.
3) Students must demonstrate knowledge, application, analysis, and evaluation skills and should practice applying command words like "explain", "analyze", and "evaluate".
A study on industrial agglomeration in manufacturing sector of pakistan using...Alexander Decker
This document analyzes industrial agglomeration in Pakistan's manufacturing sector from 2000 to 2012. It finds that industrial concentration has increased steadily over this period using the Ellison-Glaeser index to measure geographic concentration. Some key industries like other manufacturing are highly localized in only one district, indicating importance of technological spillovers. The study develops an understanding of Pakistan's industrial transformation and spatial distribution of manufacturing industries, with implications for regional development policies.
This chapter discusses demand, supply, and market equilibrium. It defines key concepts such as demand and supply curves, quantity demanded and supplied, equilibrium price and quantity, excess demand and supply. The chapter explains the laws of demand and supply - that demand curves slope downward and supply curves slope upward. It discusses how individual demand and supply combine to form market demand and supply curves and how equilibrium is reached at the price where quantity demanded equals quantity supplied. The chapter also provides examples and diagrams to illustrate these concepts.
The document analyzes economic growth in Darkhan-Uul province from 2000-2017. It finds that GDP grew at an average annual rate of 11.3% over this period, driven primarily by increases in labor productivity rather than employment. The economy transitioned from agriculture to industry and services, with services becoming the largest sector. Labor productivity accounted for over 50% of GDP growth, with the remaining growth from increased employment. Multiple factors influenced growth, including higher labor productivity, more days worked per employee, and increases in population and the labor force.
The impact of some economic factors on imports in jordanAlexander Decker
The document analyzes factors that impact imports in Jordan using a multiple linear regression model. It finds that imports are most strongly influenced by consumer price index (CPI), remittances, relative prices, and exchange rates. While GDP and remittances were not statistically significant predictors in the initial model, further analysis found issues with multicollinearity between some variables. Addressing this by using standardized variables and stepwise selection resulted in a better fitting model with CPI as the most important predictor of imports in Jordan.
The document discusses the standard trade model and gains from trade. It introduces a 2x2x2 model with two countries producing two goods using two factors of production. Opening trade leads to gains for both countries as production and consumption move to new equilibrium points that exploit each country's comparative advantage. The terms of trade adjust to balance trade between the countries. Economic growth can impact a country's terms of trade depending on whether it is export- or import-biased. Government policies like tariffs, subsidies, and transfers also affect equilibrium terms of trade.
With the collapse of US mortgage market due to sub-prime lending, the global financial system is completely shattered. The UK financial markets were also not able to resist to this economy fall-down. The combination of credit crunch and falling housing market resulted in a recession in the UK market (Richardson, 2011). Recession can be defined as fall in real GDP of a country. Alternatively, it can be defined as, for the two consecutive quarters, if economic growth shows negative trend; i.e. if there is a fall in the real output of the country for consecutively six months (King and Cushman, 1997).
Macroeconomic Variables and Manufacturing Sector Output in Nigeriaijtsrd
Management of macroencomic variables has been noted as instrumental to a well performing manufacturing sector. This study thus examined the effect of macroencomic variables on the manufacturing sector in Nigeria within a liberalised economic era of 1986 to 2018. The Autoregressive Distributive Lag model was employed for data analysis. The results revealed that macroeconomic variables has 93 significant short run policy effect but no significant long run effects on manufacturing sector output in Nigeria. The endogenous dynamics of manufacturing sector previous year outputs exerted a significance influence on the macroeconomic variables long run relationship effect on current year. The explanatory variables suggested that money supply M2 , interest rate INTR and credit to private sector CPS exerted positive effects on manufacturing sector output at short term trends. The study thus posits that macroeconomic variables have varying levels of effects on the manufacturing sectors of Nigerian economy. The monetary authority should employ the monetary policy stance in a pattern that increases money supply in order to boost investment in manufacturing sector which would eventual bring about improved output to Nigeria. Dr. Loretta Anayo Ozuah "Macroeconomic Variables and Manufacturing Sector Output in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38420.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/38420/macroeconomic-variables-and-manufacturing-sector-output-in-nigeria/dr-loretta-anayo-ozuah
Exchange Rate Deregulation and Nigeria’s Industrial Output (1970-2015)AJHSSR Journal
The study examined the effect of exchange rate deregulation on the industrial output of Nigeria
over the period 1970 – 2015. Data for the study comprising Nigeria‟s Industrial Sector‟s Output, Exchange Rate,
Capacity Utilization and Inflation Rate were sourced from Central Bank of Nigeria (CBN) Statistical Bulletin
2015 edition. The data were analyzed using Error Correction Model and Ordinary Least Squares technique. The
result of the analysis revealed that exchange rate deregulation impacted positively and significantly on Industrial
output over the long run period. The dummy variable, which was introduced in the data to segment pre-SAP and
post-SAP periods also showed that exchange rate deregulation was beneficial to the industrial sector. In
conclusion, the study recommended that exchange rate should continue to be deregulated and closely monitored
to discourage rent-seekers and price arbitrage. Also, the government should support export-led growth,
particularly in provision of incentives and soft loans to aid in the export of locally produced industrial outputs.
In addition, government should create a favorable and enabling environment for production such as constant
supply of electricity and good road networks.
Exchange Rate Fluctuation and Real Sector Output in Nigeria A Disaggregated A...ijtsrd
This study examined the effect of exchange rate fluctuation on real sector output in Nigeria. It is the goal of every economy to have a stable rate of exchange with its trading partners. In Nigeria, this goal was not attained in spite of the fact that the country embarked on devaluation to promote export and stabilize the rate of exchange. Despite various efforts by the government to maintain a stable exchange rate, the Naira has depreciated throughout the 1980s to date. It is worrisome to note that Nigerian economy is under industrialized and its capacity utilization is also low. Specifically, this study examined the effect of exchange rate fluctuation on agricultural, industrial, building and construction, and trade sector outputs. It employed an ex post facto research design and the main statistical was the Auto Regressive Distributive Lag ARDL estimation technique using secondary data sourced from the Central bank of Nigeria statistical bulletins from 1986 2021. The result of the analyses revealed that exchange rate fluctuation had significant negative effect on agricultural sector output. Also, exchange rate was found to have a significant and negative effect on industrial, building and construction, and also trade sector output in Nigeria even though these effects were negative. The study concludes that although foreign exchange had significant effect on the real sector, such effect were negative thus displaying an inverse relationship. Sequel to these findings, there is a need for government at all levels federal, state, and local to actually invest in agriculture in an effort to match domestic demand and export to compete with crude oil for foreign exchange earnings. The Central Bank of Nigeria CBN is to provide foreign exchange relief measures for the acquisition of raw commodities that the nation naturally lacks while maintaining minimal exchange rate fluctuation to encourage local production by industries. Chrisphyna Ugochi Ahaneku | Ikenna Cyprain Egungwu | Amalachukwu Chijindu Ananwude "Exchange Rate Fluctuation and Real Sector Output in Nigeria: A Disaggregated Analysis (1986 - 2021)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-7 | Issue-1 , February 2023, URL: https://www.ijtsrd.com/papers/ijtsrd53838.pdf Paper URL: https://www.ijtsrd.com/economics/international-economics/53838/exchange-rate-fluctuation-and-real-sector-output-in-nigeria-a-disaggregated-analysis-1986---2021/chrisphyna-ugochi-ahaneku
11.crude oil price, stock price and some selected macroeconomic indicatorsAlexander Decker
This document analyzes the impact of crude oil prices, stock prices, and macroeconomic indicators like interest rates and exchange rates on Nigeria's economic growth from 1980-2010. Using techniques like Johansen cointegration, unit root tests, and error correction modeling, the study finds that crude oil prices, stock prices, and exchange rates have a significant influence on economic growth in Nigeria. Specifically, GDP growth is positively associated with stock prices and exchange rates, but negatively associated with crude oil prices and interest rates. The study recommends that Nigeria diversify its economy away from oil reliance and ensure transparency in financial markets to boost growth.
Crude oil price, stock price and some selected macroeconomic indicatorsAlexander Decker
This document analyzes the impact of crude oil prices, stock prices, and macroeconomic indicators like interest rates and exchange rates on Nigeria's economic growth from 1980-2010. Using techniques like Johansen cointegration, unit root tests, and error correction modeling, the study finds that crude oil prices, stock prices, and exchange rates have a significant influence on economic growth in Nigeria. Specifically, GDP growth is positively associated with stock prices and exchange rates, but negatively associated with crude oil prices and interest rates. The study recommends that Nigeria diversify its economy away from oil reliance and ensure transparency in financial markets to boost growth.
11.exchange rate and macroeconomic aggregates in nigeriaAlexander Decker
This document summarizes a study that analyzes the impact of exchange rates on macroeconomic aggregates in Nigeria from 1970 to 2009. It uses simultaneous equation models and vector-autoregressive models to examine the relationship between real exchange rates and GDP growth. The results show no strong direct relationship between exchange rate changes and GDP growth. Rather, Nigeria's economic growth has been directly affected by fiscal and monetary policies and exports. Exchange rate overvaluation has been unfavorable for growth. The conclusion is that exchange rate management improvements are necessary but not sufficient to revive the Nigerian economy and broader economic reforms are required.
Exchange rate and macroeconomic aggregates in nigeriaAlexander Decker
This document summarizes a study that analyzes the impact of exchange rates on macroeconomic aggregates in Nigeria from 1970 to 2009. Using simultaneous equation models and vector-autoregressive models, the study finds no strong direct relationship between exchange rate changes and GDP growth in Nigeria. Rather, economic growth has been directly affected by fiscal and monetary policies and exports, which have sustained an overvalued exchange rate that has been unfavorable for growth. The conclusion is that improving exchange rate management is necessary but not sufficient to revive the Nigerian economy, and a broader program of economic reforms is required, including complementary restrictive monetary policy.
11.[27 40]the impact of macroeconomic variables on non-oil exports performanc...Alexander Decker
This document summarizes a study that investigated the impact of macroeconomic variables (exchange rate, interest rate, government capital expenditure, government recurrent expenditure) on non-oil exports, the agricultural sector, manufacturing sector, and GDP in Nigeria from 1986-2010. The study used ordinary least squares regression and cointegration analysis. The results showed that exchange rate, government capital expenditure, and government recurrent expenditure were positively related to non-oil exports, agriculture, manufacturing, and GDP, while interest rate was negatively related. Based on these findings, the study recommends increasing investment in non-oil exports, agriculture, and manufacturing, as well as decreasing interest rates and increasing government expenditures.
Exchange Rate Volatility and Import Substitution in Nigeria: A Sectoral AnalysisAJHSSR Journal
ABSTRACT: The study attempts to estimate the impact of exchange rate volatility on import substitution in
Nigeria. The study establishes that the volatility in exchange rate has a detrimental effect in the agricultural
sector in the short run, but this normalizes in the long run, thus having a positive permanent effect. Similarly,
the empirical results depict that the demand for the consumer goods sector was negatively affected by exchange
rate shocks in the initial stage, but over the periods had a positive effect. The result of the food sector, however,
conforms with the apriori expectation that currency exchange rates have a significant impact on food prices.
Food prices are likely to respond as the Naira weakens or strengthens vis a visother currency.This study
provides empirical evidence to drive policy formulation in the management of the country’ foreign exchange
rate as it impacts on trade of goods and services, andprovides information that may guide more studies on the
subject.
Keywords: Exchange rate volatility; Import substitution; Agricultural sector; GARCH; Vector autoregression
This document discusses the relationship between export and economic growth in Nigeria. It begins with an abstract noting that while some economists argue export competition improves productivity, others argue it can negatively impact local industries. The document aims to empirically test the relationship between export and GDP in Nigeria. It provides background on Nigeria's economic history, including a reliance on oil exports. It reviews theories on how export can impact growth, including Ricardo's comparative advantage model. Tables show Nigeria's weak manufacturing exports as a percentage of total exports. The document aims to analyze problems with Nigeria's exports and propose solutions to strengthen manufacturing exports and economic growth.
Long Run Impact of Exchange Rate on Nigeria’s Industrial Outputiosrjce
While many scholars have carried out a lot of research on the impact of exchange rate volatility and
price shocks on economic growth, this study departs from previous studies and seeks to provide suggestions for
Nigerian policy makers on the attainment of an ideal exchange rate necessary to boost industrialization and
industrial output. The economies of all the countries of the world are linked directly or indirectly through asset
and goods markets. This linkage is made possible through trade and foreign exchange. The price of foreign
currencies in terms of a local currency (i.e. foreign exchange) is therefore important to the understanding of the
growth trajectory of all countries of the world. The consequences of substantial misalignments of exchange rates
can lead to output contraction and extensive economic hardship. These therefore, bring up the issue of an ideal
exchange rate necessary for the achievement of a set of diverse objectives - economic growth, containment of
inflation and maintenance of external competiveness. This study employed the use of the ordinary least square
technique to examine the impact of exchange rate stability on industry output in Nigeria using annual time
series data from 1980 to 2013. The result of the study showed that domestic capital, foreign direct investment,
population growth rate, and real exchange rate were significant determinants of industrial output. The changes
in external balance and inflation were of little or no consequences to industrial output. Based on the findings,
the researcher recommended that conscious efforts should be made by government to fine-tune the various
macroeconomic variables in order to provide an enabling environment that stimulates industrial output and
eventual economic growth.
Extant literature revealed that international trade plays a key role to address the economic phenomena and can help to earn foreign exchange. Despite the accruable benefits from international trade and the countrys huge oil export that account for about 90 of its foreign exchange earnings, Nigerias trade balance and exchange rate remain unfavourable. The persistent rise in Nigerias exchange rate and unfavourable trade balance in recent time warrants an empirical probe. This study therefore examines the effect of exchange rate, domestic income, foreign income, consumption expenditure, money supply and interest rate on trade balance using a secondary time series data covering a period of thirty years from 1991 2020. The study employed a regression technique of the Ordinary Least Square OLS . All data used were secondary data obtained from the statistical bulletin of Central Bank of Nigeria CBN and National Bureau of Statistics NBS annual publications. After determining stationarity of the study variables using the ADF Statistic, it was discovered that the variables were all integrated at level, first and second difference, and found out to be stationary at their first difference. The study also using Johansen Cointegration Test, found that there is a long run relationship between the variables. Hence, the implication of this result is that there is a long run relationship between trade balance and other variables used in the model. From the result of the OLS, it is observed that exchange rate, domestic income, foreign income and money supply have a positive and significant impact on trade balance in Nigeria. The study recommends that the government should fixed or peg on the exchange rate through the central bank. This will enable the government to buy and sell its own currency against the currency to which it is pegged. The government should strive to reduce inflation to make exports more competitive. The government should also enhance supply side policies to increase long term competitiveness. Edokobi, Tonna David | Okpala, Ngozi Eugenia | Okoye, Nonso John "Exchange Rate and Trade Balance Nexus" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45079.pdf Paper URL: https://www.ijtsrd.com/management/public-sector-management/45079/exchange-rate-and-trade-balance-nexus/edokobi-tonna-david
This document examines the impact of capital accumulation on labor productivity growth in Nigeria from 1970-2014. It finds that:
1) Education and health expenditures' impact on labor productivity growth depends on the time period, while health expenditures positively impact productivity and compensation to employees negatively impacts it.
2) Both physical and human capital accumulation in Nigeria have been volatile and generally low over the study period, constraining productivity and output growth.
3) The determinants of labor productivity growth examined include human capital accumulation, physical capital accumulation, real wages, and technology, based on endogenous growth and efficiency wage theories.
1. The document examines the impact of exchange rate fluctuations on foreign trade in Nigeria from 1980-2014. It uses data from the Central Bank of Nigeria and Federal Bureau of Statistics to analyze the relationship between exchange rate, import, export, GDP, and price level.
2. Statistical analysis including OLS regression, cointegration, error correction model, and Granger causality tests were employed. The results show exchange rate fluctuations have a significant negative impact on foreign trade in Nigeria, explaining 56% of the variation in trade.
3. The error correction model also indicates about 55% of disequilibria from the previous year's foreign trade were corrected in the current year, suggesting exchange rate volatility creates instability in Nigeria
This document summarizes a research paper that examines the relationship between trade deficits, foreign direct investment, and economic growth in Rwanda from 2000 to 2015. It finds that trade deficits have a negative long-run impact on economic growth, while foreign direct investment has a positive short-run and long-run impact. The paper uses cointegration and vector error correction models to analyze the data and confirms these relationships statistically. It concludes that Rwanda should continue policies to improve net exports and foreign direct investment to support economic growth.
Trade Liberalization and Trade Flows in Nigeria An Aggregated Analysisijtsrd
This study examines the impact of trade liberalization and trade flows in Nigeria using an econometric regression model of the Ordinary Least Square OLS . From the result of the OLS, it is observed that trade flows and export subsidies have a positive relationship with economic growth. This means that when trade flows and export subsidies are increasing, it will bring about more growth in Nigerian economy. On the other hand, import tariffs, import quotas and export taxes have a negative impact on economic growth in Nigeria. This means that if import tariffs, import quotas and export taxes are falling, there will be increase in economic growth. From the empirical work reviewed, some authors argued that trade liberalization and trade flows is positively related to economic growth while some authors argued that it is negatively related. The findings of the study also show that trade flows, import tariffs, import quotas and export taxes are statistically significant in explaining the Nigerian economy while export subsidy is statistically insignificant. The study therefore recommends that government should encourage import liberalization through reduction in tariff rates, gradual removal of Non-Tariff Barriers NTB , outright banning of certain goods which will ensure that our imports, following trade liberalization, is directed mainly on intermediate and capital goods. Imports of consumables would be brought to nil and therefore there would be a corresponding increase in the production of competitive import. Finally, the government should vigorously seek to improve the international stand of the economy with other economies of the world so as to enlarge the market for Nigerian exports. It should also re-orient its policy towards the external sector and ensure that the sector contribute optimally to output growth. Anionwu, Carol "Trade Liberalization and Trade Flows in Nigeria: An Aggregated Analysis" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-6 , October 2018, URL: http://www.ijtsrd.com/papers/ijtsrd18911.pdf
The performance of manufacturing sector and utilization capacity in nigeriaorlhawahlay
This document is a research paper on the performance of Nigeria's manufacturing sector and capacity utilization between 1985-2009. It aims to assess capacity utilization in the manufacturing sector and identify factors influencing it. The paper finds that capacity utilization has declined in Nigeria, currently at 45%, due to challenges like poor infrastructure, high production costs, and low technology. Regression analysis indicates that inflation reduces capacity utilization while exchange rates, loans, and per capita income positively impact utilization.
Economic globalization its impact on the growth of non oil supply in nigeriaAlexander Decker
- The document examines the impact of economic globalization on the growth of non-oil supply in Nigeria from 1970-2011. It employs statistical analysis to analyze the relationship between non-oil supply growth and factors like economic openness, GDP, capital goods imports, and oil exports.
- The results show that while economic globalization had an insignificant impact on non-oil supply growth, factors like GDP, relative prices, capital goods imports, and exchange rates positively impacted non-oil supply. However, world income and oil exports negatively impacted non-oil supply growth.
- Despite policies aimed at diversifying the economy away from oil since the 1980s, non-oil exports as a percentage of total exports declined over the period
This study examined the effects of exchange rate fluctuation on the Industrial Output Growth in Nigeria using time series data sparring from the period 1986 to 2015. Johansen’s Co-Integration model was employed to explore the long-run relationship among the variables used, while the Vector Error Correction model (VECM) was used to evaluate the short and long-run dynamic among the variables and the Granger Causality used to measure contemporaneous relationship among the endogenous variables. The dynamic correlation of the variables was captured by the analyses of impulse response and variance decomposition. The results of the analysis indicate a unidirectional causality from Exchange rate to Industrial output. The response of industrial output to the shock from exchange rate was positive and significant; more specifically in the initial years, while response to shock from other variables was little in magnitude and not as significant as exchange rate. From the Forecast Error Variance Decomposition (FEVD), the study revealed that although the main source of variance in output are own shocks, innovation in the exchange rate accounted for a higher proportion in the variation of industrial output than that of other associated variables (Inflation, Interest rate and Net Export). The study concluded that exchange rate has potentials of causing significant changes in industrial output in Nigeria. Against this backdrop, the study recommended the need for more macroeconomic policy attention to the proper management of the exchange rate, and the need to strengthen the link between agriculture and the industrial sector to reduce the reliance of the sector on import of inputs to a reasonable level.
Similar to Effect of Foreign Exchange Rate Volatility on Industrial Productivity in Nigeria, 1981 2015 (20)
‘Six Sigma Technique’ A Journey Through its Implementationijtsrd
The manufacturing industries all over the world are facing tough challenges for growth, development and sustainability in today’s competitive environment. They have to achieve apex position by adapting with the global competitive environment by delivering goods and services at low cost, prime quality and better price to increase wealth and consumer satisfaction. Cost Management ensures profit, growth and sustainability of the business with implementation of Continuous Improvement Technique like Six Sigma. This leads to optimize Business performance. The method drives for customer satisfaction, low variation, reduction in waste and cycle time resulting into a competitive advantage over other industries which did not implement it. The main objective of this paper ‘Six Sigma Technique A Journey Through Its Implementation’ is to conceptualize the effectiveness of Six Sigma Technique through the journey of its implementation. Aditi Sunilkumar Ghosalkar "‘Six Sigma Technique’: A Journey Through its Implementation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64546.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/64546/‘six-sigma-technique’-a-journey-through-its-implementation/aditi-sunilkumar-ghosalkar
Edge Computing in Space Enhancing Data Processing and Communication for Space...ijtsrd
Edge computing, a paradigm that involves processing data closer to its source, has gained significant attention for its potential to revolutionize data processing and communication in space missions. With the increasing complexity and data volume generated by modern space missions, traditional centralized computing approaches face challenges related to latency, bandwidth, and security. Edge computing in space, involving on board processing and analysis of data, offers promising solutions to these challenges. This paper explores the concept of edge computing in space, its benefits, applications, and future prospects in enhancing space missions. Manish Verma "Edge Computing in Space: Enhancing Data Processing and Communication for Space Missions" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64541.pdf Paper Url: https://www.ijtsrd.com/computer-science/artificial-intelligence/64541/edge-computing-in-space-enhancing-data-processing-and-communication-for-space-missions/manish-verma
Dynamics of Communal Politics in 21st Century India Challenges and Prospectsijtsrd
Communal politics in India has evolved through centuries, weaving a complex tapestry shaped by historical legacies, colonial influences, and contemporary socio political transformations. This research comprehensively examines the dynamics of communal politics in 21st century India, emphasizing its historical roots, socio political dynamics, economic implications, challenges, and prospects for mitigation. The historical perspective unravels the intricate interplay of religious identities and power dynamics from ancient civilizations to the impact of colonial rule, providing insights into the evolution of communalism. The socio political dynamics section delves into the contemporary manifestations, exploring the roles of identity politics, socio economic disparities, and globalization. The economic implications section highlights how communal politics intersects with economic issues, perpetuating disparities and influencing resource allocation. Challenges posed by communal politics are scrutinized, revealing multifaceted issues ranging from social fragmentation to threats against democratic values. The prospects for mitigation present a multifaceted approach, incorporating policy interventions, community engagement, and educational initiatives. The paper conducts a comparative analysis with international examples, identifying common patterns such as identity politics and economic disparities. It also examines unique challenges, emphasizing Indias diverse religious landscape, historical legacy, and secular framework. Lessons for effective strategies are drawn from international experiences, offering insights into inclusive policies, interfaith dialogue, media regulation, and global cooperation. By scrutinizing historical epochs, contemporary dynamics, economic implications, and international comparisons, this research provides a comprehensive understanding of communal politics in India. The proposed strategies for mitigation underscore the importance of a holistic approach to foster social harmony, inclusivity, and democratic values. Rose Hossain "Dynamics of Communal Politics in 21st Century India: Challenges and Prospects" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64528.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/history/64528/dynamics-of-communal-politics-in-21st-century-india-challenges-and-prospects/rose-hossain
Assess Perspective and Knowledge of Healthcare Providers Towards Elehealth in...ijtsrd
Background and Objective Telehealth has become a well known tool for the delivery of health care in Saudi Arabia, and the perspective and knowledge of healthcare providers are influential in the implementation, adoption and advancement of the method. This systematic review was conducted to examine the current literature base regarding telehealth and the related healthcare professional perspective and knowledge in the Kingdom of Saudi Arabia. Materials and Methods This systematic review was conducted by searching 7 databases including, MEDLINE, CINHAL, Web of Science, Scopus, PubMed, PsycINFO, and ProQuest Central. Studies on healthcare practitioners telehealth knowledge and perspectives published in English in Saudi Arabia from 2000 to 2023 were included. Boland directed this comprehensive review. The researchers examined each connected study using the AXIS tool, which evaluates cross sectional systematic reviews. Narrative synthesis was used to summarise and convey the data. Results Out of 1840 search results, 10 studies were included. Positive outlook and limited knowledge among providers were seen across trials. Healthcare professionals like telehealth for its ability to improve quality, access, and delivery, save time and money, and be successful. Age, gender, occupation, and work experience also affect health workers knowledge. In Saudi Arabia, healthcare professionals face inadequate expert assistance, patient privacy, internet connection concerns, lack of training courses, lack of telehealth understanding, and high costs while performing telemedicine. Conclusions Healthcare practitioners telehealth perceptions and knowledge were examined in this systematic study. Its collection of concerned experts different personal attitudes and expertise would help enhance telehealths implementation in Saudi Arabia, develop its healthcare delivery alternative, and eliminate frequent problems. Badriah Mousa I Mulayhi | Dr. Jomin George | Judy Jenkins "Assess Perspective and Knowledge of Healthcare Providers Towards Elehealth in Saudi Arabia: A Systematic Review" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64535.pdf Paper Url: https://www.ijtsrd.com/medicine/other/64535/assess-perspective-and-knowledge-of-healthcare-providers-towards-elehealth-in-saudi-arabia-a-systematic-review/badriah-mousa-i-mulayhi
The Impact of Digital Media on the Decentralization of Power and the Erosion ...ijtsrd
The impact of digital media on the distribution of power and the weakening of traditional gatekeepers has gained considerable attention in recent years. The adoption of digital technologies and the internet has resulted in declining influence and power for traditional gatekeepers such as publishing houses and news organizations. Simultaneously, digital media has facilitated the emergence of new voices and players in the media industry. Digital medias impact on power decentralization and gatekeeper erosion is visible in several ways. One significant aspect is the democratization of information, which enables anyone with an internet connection to publish and share content globally, leading to citizen journalism and bypassing traditional gatekeepers. Another aspect is the disruption of conventional media industry business models, as traditional organizations struggle to adjust to the decrease in advertising revenue and the rise of digital platforms. Alternative business models, such as subscription models and crowdfunding, have become more prevalent, leading to the emergence of new players. Overall, the impact of digital media on the distribution of power and the weakening of traditional gatekeepers has brought about significant changes in the media landscape and the way information is shared. Further research is required to fully comprehend the implications of these changes and their impact on society. Dr. Kusum Lata "The Impact of Digital Media on the Decentralization of Power and the Erosion of Traditional Gatekeepers" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64544.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/political-science/64544/the-impact-of-digital-media-on-the-decentralization-of-power-and-the-erosion-of-traditional-gatekeepers/dr-kusum-lata
Online Voices, Offline Impact Ambedkars Ideals and Socio Political Inclusion ...ijtsrd
This research investigates the nexus between online discussions on Dr. B.R. Ambedkars ideals and their impact on social inclusion among college students in Gurugram, Haryana. Surveying 240 students from 12 government colleges, findings indicate that 65 actively engage in online discussions, with 80 demonstrating moderate to high awareness of Ambedkars ideals. Statistically significant correlations reveal that higher online engagement correlates with increased awareness p 0.05 and perceived social inclusion. Variations across colleges and a notable effect of college type on perceived social inclusion highlight the influence of contextual factors. Furthermore, the intersectional analysis underscores nuanced differences based on gender, caste, and socio economic status. Dr. Kusum Lata "Online Voices, Offline Impact: Ambedkar's Ideals and Socio-Political Inclusion - A Study of Gurugram District" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64543.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/political-science/64543/online-voices-offline-impact-ambedkars-ideals-and-sociopolitical-inclusion--a-study-of-gurugram-district/dr-kusum-lata
Problems and Challenges of Agro Entreprenurship A Studyijtsrd
Noting calls for contextualizing Agro entrepreneurs problems and challenges of the agro entrepreneurs and for greater attention to the Role of entrepreneurs in agro entrepreneurship research, we conduct a systematic literature review of extent research in agriculture entrepreneurship to overcome the study objectives of complications of agro entrepreneurs through various factors, Development of agriculture products is a key factor for the overall economic growth of agro entrepreneurs Agro Entrepreneurs produces firsthand large scale employment, utilizes the labor and natural resources, This research outlines the problems of Weather and Soil Erosions, Market price fluctuation, stimulates labor cost problems, reduces concentration of Price volatility, Dependency on Intermediaries, induces Limited Bargaining Power, and Storage and Transportation Costs. This paper mainly devoted to highlight Problems and challenges faced for the sustainable of Agro Entrepreneurs in India. Vinay Prasad B "Problems and Challenges of Agro Entreprenurship - A Study" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64540.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/64540/problems-and-challenges-of-agro-entreprenurship--a-study/vinay-prasad-b
Comparative Analysis of Total Corporate Disclosure of Selected IT Companies o...ijtsrd
Disclosure is a process through which a business enterprise communicates with external parties. A corporate disclosure is communication of financial and non financial information of the activities of a business enterprise to the interested entities. Corporate disclosure is done through publishing annual reports. So corporate disclosure through annual reports plays a vital role in the life of all the companies and provides valuable information to investors. The basic objectives of corporate disclosure is to give a true and fair view of companies to the parties related either directly or indirectly like owner, government, creditors, shareholders etc. in the companies act, provisions have been made about mandatory and voluntary disclosure. The IT sector in India is rapidly growing, the trend to invest in the IT sector is rising and employment opportunities in IT sectors are also increasing. Therefore the IT sector is expected to have fair, full and adequate disclosure of all information. Unfair and incomplete disclosure may adversely affect the entire economy. A research study on disclosure practices of IT companies could play an important role in this regard. Hence, the present research study has been done to study and review comparative analysis of total corporate disclosure of selected IT companies of India and to put forward overall findings and suggestions with a view to increase disclosure score of these companies. The researcher hopes that the present research study will be helpful to all selected Companies for improving level of corporate disclosure through annual reports as well as the government, creditors, investors, all business organizations and upcoming researcher for comparative analyses of level of corporate disclosure with special reference to selected IT companies. Dr. Vaibhavi D. Thaker "Comparative Analysis of Total Corporate Disclosure of Selected IT Companies of India" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64539.pdf Paper Url: https://www.ijtsrd.com/other-scientific-research-area/other/64539/comparative-analysis-of-total-corporate-disclosure-of-selected-it-companies-of-india/dr-vaibhavi-d-thaker
The Impact of Educational Background and Professional Training on Human Right...ijtsrd
This study investigated the impact of educational background and professional training on human rights awareness among secondary school teachers in the Marathwada region of Maharashtra, India. The key findings reveal that higher levels of education, particularly a master’s degree, and fields of study related to education, humanities, or social sciences are associated with greater human rights awareness among teachers. Additionally, both pre service teacher training and in service professional development programs focused on human rights education significantly enhance teacher’s knowledge, skills, and competencies in promoting human rights principles in their classrooms. Baig Ameer Bee Mirza Abdul Aziz | Dr. Syed Azaz Ali Amjad Ali "The Impact of Educational Background and Professional Training on Human Rights Awareness among Secondary School Teachers" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64529.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/64529/the-impact-of-educational-background-and-professional-training-on-human-rights-awareness-among-secondary-school-teachers/baig-ameer-bee-mirza-abdul-aziz
A Study on the Effective Teaching Learning Process in English Curriculum at t...ijtsrd
“One Language sets you in a corridor for life. Two languages open every door along the way” Frank Smith English as a foreign language or as a second language has been ruling in India since the period of Lord Macaulay. But the question is how much we teach or learn English properly in our culture. Is there any scope to use English as a language rather than a subject How much we learn or teach English without any interference of mother language specially in the classroom teaching learning scenario in West Bengal By considering all these issues the researcher has attempted in this article to focus on the effective teaching learning process comparing to other traditional strategies in the field of English curriculum at the secondary level to investigate whether they fulfill the present teaching learning requirements or not by examining the validity of the present curriculum of English. The purpose of this study is to focus on the effectiveness of the systematic, scientific, sequential and logical transaction of the course between the teachers and the learners in the perspective of the 5Es programme that is engage, explore, explain, extend and evaluate. Sanchali Mondal | Santinath Sarkar "A Study on the Effective Teaching Learning Process in English Curriculum at the Secondary Level of West Bengal" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd62412.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/62412/a-study-on-the-effective-teaching-learning-process-in-english-curriculum-at-the-secondary-level-of-west-bengal/sanchali-mondal
The Role of Mentoring and Its Influence on the Effectiveness of the Teaching ...ijtsrd
This paper reports on a study which was conducted to investigate the role of mentoring and its influence on the effectiveness of the teaching of Physics in secondary schools in the South West Region of Cameroon. The study adopted the convergent parallel mixed methods design, focusing on respondents in secondary schools in the South West Region of Cameroon. Both quantitative and qualitative data were collected, analysed separately, and the results were compared to see if the findings confirm or disconfirm each other. The quantitative analysis found that majority of the respondents 72 of Physics teachers affirmed that they had more experienced colleagues as mentors to help build their confidence, improve their teaching, and help them improve their effectiveness and efficiency in guiding learners’ achievements. Only 28 of the respondents disagreed with these statements. With majority respondents 72 agreeing with the statements, it implies that in most secondary schools, experienced Physics teachers act as mentors to build teachers’ confidence in teaching and improving students’ learning. The interview qualitative data analysis summarized how secondary school Principals use meetings with mentors and mentees to promote mentorship in the school milieu. This has helped strengthen teachers’ classroom practices in secondary schools in the South West Region of Cameroon. With the results confirming each other, the study recommends that mentoring should focus on helping teachers employ social interactions and instructional practices feedback and clarity in teaching that have direct measurable impact on students’ learning achievements. Andrew Ngeim Sumba | Frederick Ebot Ashu | Peter Agborbechem Tambi "The Role of Mentoring and Its Influence on the Effectiveness of the Teaching of Physics in Secondary Schools in the South West Region of Cameroon" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64524.pdf Paper Url: https://www.ijtsrd.com/management/management-development/64524/the-role-of-mentoring-and-its-influence-on-the-effectiveness-of-the-teaching-of-physics-in-secondary-schools-in-the-south-west-region-of-cameroon/andrew-ngeim-sumba
Design Simulation and Hardware Construction of an Arduino Microcontroller Bas...ijtsrd
This study primarily focuses on the design of a high side buck converter using an Arduino microcontroller. The converter is specifically intended for use in DC DC applications, particularly in standalone solar PV systems where the PV output voltage exceeds the load or battery voltage. To evaluate the performance of the converter, simulation experiments are conducted using Proteus Software. These simulations provide insights into the input and output voltages, currents, powers, and efficiency under different state of charge SoC conditions of a 12V,70Ah rechargeable lead acid battery. Additionally, the hardware design of the converter is implemented, and practical data is collected through operation, monitoring, and recording. By comparing the simulation results with the practical results, the efficiency and performance of the designed converter are assessed. The findings indicate that while the buck converter is suitable for practical use in standalone PV systems, its efficiency is compromised due to a lower output current. Chan Myae Aung | Dr. Ei Mon "Design Simulation and Hardware Construction of an Arduino-Microcontroller Based DC-DC High-Side Buck Converter for Standalone PV System" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64518.pdf Paper Url: https://www.ijtsrd.com/engineering/mechanical-engineering/64518/design-simulation-and-hardware-construction-of-an-arduinomicrocontroller-based-dcdc-highside-buck-converter-for-standalone-pv-system/chan-myae-aung
Sustainable Energy by Paul A. Adekunte | Matthew N. O. Sadiku | Janet O. Sadikuijtsrd
Energy becomes sustainable if it meets the needs of the present without compromising the ability of future generations to meet their own needs. Some of the definitions of sustainable energy include the considerations of environmental aspects such as greenhouse gas emissions, social, and economic aspects such as energy poverty. Generally far more sustainable than fossil fuel are renewable energy sources such as wind, hydroelectric power, solar, and geothermal energy sources. Worthy of note is that some renewable energy projects, like the clearing of forests to produce biofuels, can cause severe environmental damage. The sustainability of nuclear power which is a low carbon source is highly debated because of concerns about radioactive waste, nuclear proliferation, and accidents. The switching from coal to natural gas has environmental benefits, including a lower climate impact, but could lead to delay in switching to more sustainable options. “Carbon capture and storage” can be built into power plants to remove the carbon dioxide CO2 emissions, but this technology is expensive and has rarely been implemented. Leading non renewable energy sources around the world is fossil fuels, coal, petroleum, and natural gas. Nuclear energy is usually considered another non renewable energy source, although nuclear energy itself is a renewable energy source, but the material used in nuclear power plants is not. The paper addresses the issue of sustainable energy, its attendant benefits to the future generation, and humanity in general. Paul A. Adekunte | Matthew N. O. Sadiku | Janet O. Sadiku "Sustainable Energy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64534.pdf Paper Url: https://www.ijtsrd.com/engineering/electrical-engineering/64534/sustainable-energy/paul-a-adekunte
Concepts for Sudan Survey Act Implementations Executive Regulations and Stand...ijtsrd
This paper aims to outline the executive regulations, survey standards, and specifications required for the implementation of the Sudan Survey Act, and for regulating and organizing all surveying work activities in Sudan. The act has been discussed for more than 5 years. The Land Survey Act was initiated by the Sudan Survey Authority and all official legislations were headed by the Sudan Ministry of Justice till it was issued in 2022. The paper presents conceptual guidelines to be used for the Survey Act implementation and to regulate the survey work practice, standardizing the field surveys, processing, quality control, procedures, and the processes related to survey work carried out by the stakeholders and relevant authorities in Sudan. The conceptual guidelines are meant to improve the quality and harmonization of geospatial data and to aid decision making processes as well as geospatial information systems. The established comprehensive executive regulations will govern and regulate the implementation of the Sudan Survey Geomatics Act in all surveying and mapping practices undertaken by the Sudan Survey Authority SSA and state local survey departments for public or private sector organizations. The targeted standards and specifications include the reference frame, projection, coordinate systems, and the guidelines and specifications that must be followed in the field of survey work, processes, and mapping products. In the last few decades, there has been a growing awareness of the importance of geomatics activities and measurements on the Earths surface in space and time, together with observing and mapping the changes. In such cases, data must be captured promptly, standardized, and obtained with more accuracy and specified in much detail. The paper will also highlight the current situation in Sudan, the degree to which survey standards are used, the problems encountered, and the errors that arise from not using the standards and survey specifications. Kamal A. A. Sami "Concepts for Sudan Survey Act Implementations - Executive Regulations and Standards" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63484.pdf Paper Url: https://www.ijtsrd.com/engineering/civil-engineering/63484/concepts-for-sudan-survey-act-implementations--executive-regulations-and-standards/kamal-a-a-sami
Towards the Implementation of the Sudan Interpolated Geoid Model Khartoum Sta...ijtsrd
The discussions between ellipsoid and geoid have invoked many researchers during the recent decades, especially during the GNSS technology era, which had witnessed a great deal of development but still geoid undulation requires more investigations. To figure out a solution for Sudans local geoid, this research has tried to intake the possibility of determining the geoid model by following two approaches, gravimetric and geometrical geoid model determination, by making use of GNSS leveling benchmarks at Khartoum state. The Benchmarks are well distributed in the study area, in which, the horizontal coordinates and the height above the ellipsoid have been observed by GNSS while orthometric heights were carried out using precise leveling. The Global Geopotential Model GGM represented in EGM2008 has been exploited to figure out the geoid undulation at the benchmarks in the study area. This is followed by a fitting process, that has been done to suit the geoid undulation data which has been computed using GNSS leveling data and geoid undulation inspired by the EGM2008. Two geoid surfaces were created after the fitting process to ensure that they are identical and both of them could be counted for getting the same geoid undulation with an acceptable accuracy. In this respect, statistical operation played an important role in ensuring the consistency and integrity of the model by applying cross validation techniques splitting the data into training and testing datasets for building the geoid model and testing its eligibility. The geometrical solution for geoid undulation computation has been utilized by applying straightforward equations that facilitate the calculation of the geoid undulation directly through applying statistical techniques for the GNSS leveling data of the study area to get the common equation parameters values that could be utilized to calculate geoid undulation of any position in the study area within the claimed accuracy. Both systems were checked and proved eligible to be used within the study area with acceptable accuracy which may contribute to solving the geoid undulation problem in the Khartoum area, and be further generalized to determine the geoid model over the entire country, and this could be considered in the future, for regional and continental geoid model. Ahmed M. A. Mohammed. | Kamal A. A. Sami "Towards the Implementation of the Sudan Interpolated Geoid Model (Khartoum State Case Study)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63483.pdf Paper Url: https://www.ijtsrd.com/engineering/civil-engineering/63483/towards-the-implementation-of-the-sudan-interpolated-geoid-model-khartoum-state-case-study/ahmed-m-a-mohammed
Activating Geospatial Information for Sudans Sustainable Investment Mapijtsrd
Sudan is witnessing an acceleration in the processes of development and transformation in the performance of government institutions to raise the productivity and investment efficiency of the government sector. The development plans and investment opportunities have focused on achieving national goals in various sectors. This paper aims to illuminate the path to the future and provide geospatial data and information to develop the investment climate and environment for all sized businesses, and to bridge the development gap between the Sudan states. The Sudan Survey Authority SSA is the main advisor to the Sudan Government in conducting surveying, mappings, designing, and developing systems related to geospatial data and information. In recent years, SSA made a strategic partnership with the Ministry of Investment to activate Geospatial Information for Sudans Sustainable Investment and in particular, for the preparation and implementation of the Sudan investment map, based on the directives and objectives of the Ministry of Investment MI in Sudan. This paper comes within the framework of activating the efforts of the Ministry of Investment to develop technical investment services by applying techniques adopted by the Ministry and its strategic partners for advancing investment processes in the country. Kamal A. A. Sami "Activating Geospatial Information for Sudan's Sustainable Investment Map" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63482.pdf Paper Url: https://www.ijtsrd.com/engineering/information-technology/63482/activating-geospatial-information-for-sudans-sustainable-investment-map/kamal-a-a-sami
Educational Unity Embracing Diversity for a Stronger Societyijtsrd
In a rapidly changing global landscape, the importance of education as a unifying force cannot be overstated. This paper explores the crucial role of educational unity in fostering a stronger and more inclusive society through the embrace of diversity. By examining the benefits of diverse learning environments, the paper aims to highlight the positive impact on societal strength. The discussion encompasses various dimensions, from curriculum design to classroom dynamics, and emphasizes the need for educational institutions to become catalysts for unity in diversity. It highlights the need for a paradigm shift in educational policies, curricula, and pedagogical approaches to ensure that they are reflective of the diverse fabric of society. This paper also addresses the challenges associated with implementing inclusive educational practices and offers practical strategies for overcoming barriers. It advocates for collaborative efforts between educational institutions, policymakers, and communities to create a supportive ecosystem that promotes diversity and unity. Mr. Amit Adhikari | Madhumita Teli | Gopal Adhikari "Educational Unity: Embracing Diversity for a Stronger Society" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64525.pdf Paper Url: https://www.ijtsrd.com/humanities-and-the-arts/education/64525/educational-unity-embracing-diversity-for-a-stronger-society/mr-amit-adhikari
Integration of Indian Indigenous Knowledge System in Management Prospects and...ijtsrd
The diversity of indigenous knowledge systems in India is vast and can vary significantly between different communities and regions. Preserving and respecting these knowledge systems is crucial for maintaining cultural heritage, promoting sustainable practices, and fostering cross cultural understanding. In this paper, an overview of the prospects and challenges associated with incorporating Indian indigenous knowledge into management is explored. It is found that IIKS helps in management in many areas like sustainable development, tourism, food security, natural resource management, cultural preservation and innovation, etc. However, IIKS integration with management faces some challenges in the form of a lack of documentation, cultural sensitivity, language barriers legal framework, etc. Savita Lathwal "Integration of Indian Indigenous Knowledge System in Management: Prospects and Challenges" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63500.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/63500/integration-of-indian-indigenous-knowledge-system-in-management-prospects-and-challenges/savita-lathwal
DeepMask Transforming Face Mask Identification for Better Pandemic Control in...ijtsrd
The COVID 19 pandemic has highlighted the crucial need of preventive measures, with widespread use of face masks being a key method for slowing the viruss spread. This research investigates face mask identification using deep learning as a technological solution to be reducing the risk of coronavirus transmission. The proposed method uses state of the art convolutional neural networks CNNs and transfer learning to automatically recognize persons who are not wearing masks in a variety of circumstances. We discuss how this strategy improves public health and safety by providing an efficient manner of enforcing mask wearing standards. The report also discusses the obstacles, ethical concerns, and prospective applications of face mask detection systems in the ongoing fight against the pandemic. Dilip Kumar Sharma | Aaditya Yadav "DeepMask: Transforming Face Mask Identification for Better Pandemic Control in the COVID-19 Era" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd64522.pdf Paper Url: https://www.ijtsrd.com/engineering/electronics-and-communication-engineering/64522/deepmask-transforming-face-mask-identification-for-better-pandemic-control-in-the-covid19-era/dilip-kumar-sharma
Streamlining Data Collection eCRF Design and Machine Learningijtsrd
Efficient and accurate data collection is paramount in clinical trials, and the design of Electronic Case Report Forms eCRFs plays a pivotal role in streamlining this process. This paper explores the integration of machine learning techniques in the design and implementation of eCRFs to enhance data collection efficiency. We delve into the synergies between eCRF design principles and machine learning algorithms, aiming to optimize data quality, reduce errors, and expedite the overall data collection process. The application of machine learning in eCRF design brings forth innovative approaches to data validation, anomaly detection, and real time adaptability. This paper discusses the benefits, challenges, and future prospects of leveraging machine learning in eCRF design for streamlined and advanced data collection in clinical trials. Dhanalakshmi D | Vijaya Lakshmi Kannareddy "Streamlining Data Collection: eCRF Design and Machine Learning" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63515.pdf Paper Url: https://www.ijtsrd.com/biological-science/biotechnology/63515/streamlining-data-collection-ecrf-design-and-machine-learning/dhanalakshmi-d
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
LAND USE LAND COVER AND NDVI OF MIRZAPUR DISTRICT, UPRAHUL
This Dissertation explores the particular circumstances of Mirzapur, a region located in the
core of India. Mirzapur, with its varied terrains and abundant biodiversity, offers an optimal
environment for investigating the changes in vegetation cover dynamics. Our study utilizes
advanced technologies such as GIS (Geographic Information Systems) and Remote sensing to
analyze the transformations that have taken place over the course of a decade.
The complex relationship between human activities and the environment has been the focus
of extensive research and worry. As the global community grapples with swift urbanization,
population expansion, and economic progress, the effects on natural ecosystems are becoming
more evident. A crucial element of this impact is the alteration of vegetation cover, which plays a
significant role in maintaining the ecological equilibrium of our planet.Land serves as the foundation for all human activities and provides the necessary materials for
these activities. As the most crucial natural resource, its utilization by humans results in different
'Land uses,' which are determined by both human activities and the physical characteristics of the
land.
The utilization of land is impacted by human needs and environmental factors. In countries
like India, rapid population growth and the emphasis on extensive resource exploitation can lead
to significant land degradation, adversely affecting the region's land cover.
Therefore, human intervention has significantly influenced land use patterns over many
centuries, evolving its structure over time and space. In the present era, these changes have
accelerated due to factors such as agriculture and urbanization. Information regarding land use and
cover is essential for various planning and management tasks related to the Earth's surface,
providing crucial environmental data for scientific, resource management, policy purposes, and
diverse human activities.
Accurate understanding of land use and cover is imperative for the development planning
of any area. Consequently, a wide range of professionals, including earth system scientists, land
and water managers, and urban planners, are interested in obtaining data on land use and cover
changes, conversion trends, and other related patterns. The spatial dimensions of land use and
cover support policymakers and scientists in making well-informed decisions, as alterations in
these patterns indicate shifts in economic and social conditions. Monitoring such changes with the
help of Advanced technologies like Remote Sensing and Geographic Information Systems is
crucial for coordinated efforts across different administrative levels. Advanced technologies like
Remote Sensing and Geographic Information Systems
9
Changes in vegetation cover refer to variations in the distribution, composition, and overall
structure of plant communities across different temporal and spatial scales. These changes can
occur natural.
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How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
2. International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
@ IJTSRD | Unique Paper ID - IJTSRD22910 | Volume – 3 | Issue – 3 | Mar-Apr 2019 Page: 824
Theories of Exchange Rate:
Friedman1, an early advocate of flexible exchange rates,
argued that one advantage of floating rates is that they could
allow rapid change in relative prices between countries: “A
rise in the exchange rate makes foreign goods cheaper in
terms of domestic currency, even though their prices are
unchanged in terms of their own currency, and domestic
goods more expensive in terms of foreign currency, even
though their prices are unchanged in terms of domestic
currency; this tends toincreaseimportsandreduceexports”.
This theory makes two assumptions; that goods prices are
unchanged in the currency of the producer of the good, and
that there is significant pass-through of the exchange rate
change to the buyer of the goods. On the nominal price
stickiness, Friedman argues that the choice of exchange rate
regime would matter little if nominal goods prices adjusted
quickly to shocks. He argues that, “if internal prices were as
flexible as exchange rates, it would make little economic
difference whether adjustments were brought about by
changes in exchange rates or by equivalent changes in
internal prices. But this condition is clearly not fulfilled at
least in the modern world, internal prices are highly
inflexible”.
In assessing this relative-price effect and its significant for
the choice of exchange-rate regime, Friedman is certainly
correct to emphasize the importance of normal goods price
stickiness.
Capital Accumulation Theory.
Harrod and Domar developed the capital accumulation
theory, known as Harrod and Domar model, Y=Kk, (K>0)
that capital accumulation made by a nation enhances
industrial productivity or activities, lacks of it cripples
innovation and effective production. The capital
accumulation of Nigeria dropped largely due to deliberate
overvaluation of exchange rate during the ‘oil boom’ years,
the resultant effect lowerimportprices, alteredthestructure
of incentives in favour of imports and import competing
sectors as against agriculture and export production.
Y=National incomes, K= total stock of capital and
k=output/capital ratio, if output/capital ratio is constant,
any increase in national output (∆y) must be equaltok times
(∆K) ie ∆y =k∆K
The neo-classical economists contributed to the theory
assuming a perfect competition, the Harrod and Domar
model recognised one factor, capital while classical model
assumes multi-factors of production function, capital (K),
labour (L),and technology (T),the relationship can be
expressed thus Y=f (K,L,T).
With technological progresses as ∆T/T, the production
function can be rewritten as ∆Y/Y =b (∆K/KT) + (1-
b)(∆T/T). Neo-classical model assumes perfect competition
in which prices factor equal to the marginalphysical product
times the MPk.K and MPl.L, denotes the total share of capital
and labour in the industrial output, Y.
Dynamic Productivity theory
The theory examined companies (industrial sector) actual
performance in the present of environmental factors; said
the economic factors include interest rate, exchange rate,
inflation rate, economic growth (GDP) and poverty level or
per capita income. Productivity measures the relationship
between the quantity and quality of goods and services
produced and the resources (labour) needed to produce
them which raise productivity within the trading country.
Theories of Exchange Rate Determination
The theory of exchange rate has assumed fundamental
position in past and present discuss in the literature on
economic development and growth strategies and in the
more recent literature on structural adjustment and
macroeconomic stabilization.
Presently, the exchange rate is almost a flexible variable
even in the developing countries.Accordingto exchangerate
policies and real exchange rates are increasingly viewed as
critical determinants of a country’s performance from the
view point of boosting export-led growth throughStructural
Adjustment Programme if well managed.
Fundamental Equilibrium Exchange Rate (FEER):
Ajao reviewed the work of the founder of FEER which
involves the calculation of FEER and the approach known as
the equilibrium exchange rate that is consistent with
macroeconomic balance that is understood as when an
economy is running at full employment and low inflation
(internal balance) with a current account thatissustainable;
which reflects the underlying and desired net capital flows
(external balance).
The exchange rate theory known as ‘fundamental’
emphasized the determinants that are important fromshort
term factors and over the medium term theoretically.
It is suggested, comparing country current level with the
calculated FEER an evaluation of its exchange rate must be
made. The concerned issue in the application of the FEER
approach is the extent to which it is informed by both the
theoretical and empirical literature on exchange rate
determination.
The FEER model depended on the movement of
macroeconomic balance, which are measured internal and
external. Internal balance is known as the level of output
comparable with both full employments,low andsustainable
rate of inflation.
External balance is described as the sustainable desired of
net flow of resources between countries when they are in
internal balance. Accordingly, this approach intends at
calculating exchange rates for a particular set of economic
situation; it therefore summary from short-run cyclical
conditions and temporary factors and focuses on “economic
fundamentals identified as conditions or variables that are
likely to persist overthemediumterm”.Theseconditionsare
not necessary projected to occur in the future; rather the
desirable outcomes may in fact never be realized.
Accordingly, has distinguished the FEER as the equilibrium
exchange rate that shouldbeconsistentwith “idealeconomic
conditions”. The normative aspect by itself is not a criticism
of the approach, as it simply reflects the objective of
standardizing the exchange rate at a set of well- defined
economic conditions.
The core of the macroeconomic balance approach is the
identifying equating the current account (CA) to the
(negative of) capital account (KA)
3. International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
@ IJTSRD | Unique Paper ID - IJTSRD22910 | Volume – 3 | Issue – 3 | Mar-Apr 2019 Page: 825
CA = - KA …….. (1) Where; CA = current account KA = capital
account
Rather than specifying the behavioural factors affecting the
exchange rate, most of the attention as noted by in the FEER
model is on the determinants of the current account, which
is typically explained as a function of domestic and foreign
aggregate output or demand yd and yf respectively, and the
real effective exchange rate, q. In many applications of the
FEER approach, the equilibrium capital account over the
medium term (KA) is derived by taking into consideration a
number of relevant economic factors.Equation1 can then be
transformed into an equilibrium relationship between the
current and capital accounts, where the current account is
expressed, as a linear function of its main determinants,
which are set at their full employment levels;
CA = b0 + b1q + b 2yd + b 3yf = -KA ……. (2)
Where; CA = current account; b0 = intercept b 1, b 2, and b 3
= parameters of the functions
q = the real effective exchange rate.;Yd = domestic aggregate
output; Yf = foreign aggregate output ; (KA) = negative
capital account; b 1 < 0, b 2 < 0, and b3 < 0
Using the model of the current account on the left hand side
of equilibrium (2), the exchange rate that is consistent with
macroeconomic balance (the FEER), is the real effective
exchange rate, q, which will bring the current account into
equality with underlying or sustainable capital account,
where the determinants of thecurrentaccounthavebeen set
at their full employment values. Solving equation (2) for q
gives the FEER as:
b0 + b1q + b2yd + b3yf = -KA
b0 + b1 FEER + b2yd + b3yf = KA
b1FEER = -KA – b0 – b2yd – b3yf
b1FEER = (-KA – b0 – b2yd – b3yf) ...…. (3)
As it was expressed in emphasized that equation (3) shows
that the FEER is a method of calculating a real exchange rate
which is consistent with medium-term macroeconomic
equilibrium. In other words, giventheparametersof amodel
of the current account, adding in particular the sensitivity of
current account flows to the real exchange rate, the FEER is
real exchange rate which produces an external balance
which is accurately matched with equilibrium medium-term
capital flows and calculated using an exogenously given
estimate of sustainable net capital flows. FEER as a measure
of calculation does not embody a theory of exchange rate
determination. Time series data have been used by obtain
clear relationship between economic fundamentals and real
effective exchange rates for the US dollar, Deutsche mark
and the Japanese yen. From the perspective of emerging
markets, the problem with the theoretical construct model
may be that it does not have a long history like it does in the
major industrialized countries
This lack of focus on the dynamics of adjustment of the real
exchange rate reflects the fact that the FEER approach is
primarily designed as a method of assessment of thecurrent
value of a country’s real exchange rate. A comparison of qt
with FEER is used to estimatewhether currentexchange rate
is overvalued (qt > FEERt) or undervalued (qt < FEERt)
making the assessment requiresestimatingwhatthe current
account would be if
A. qt were to persist over the medium-term
B. the country and its trading partners were at full
employment levels of output.
The project current account Cat, is compared with the
exogenously given net capital account KA, and the FEER is
the real exchange rate which will bring the current account
at full employment into equality with KA. By focusing
explicitly on the current account, the FEER approach
provides a transparent and systematicwayforpolicymakers
to base their assessments of exchange rates on their views
regarding equilibrium or sustainable current account
positions. It is clear from the above that a FEER calculation
requires considerable parameter estimation and judgment
involving; a. a current account model; b. estimates of
potential output for the country concerned and its main
trading partners; c. an estimate or judgment regarding KA
Literature and Empirical Review
Empirical evidence has shown strong effect of short run and
long run effect of exchange rate management on industrial
performance through the trade. The nature of the effect,
however, runs in either positive or negative direction.
Exchange Rate Volatility and Exports:
Exports generate foreign currency earnings and boost
economic growth. Demand for export depends on economic
conditions in foreign country's prices (relative inflation and
exchange rate). Devaluation competitiveness increases
exports and bends demand towards domestically produce
goods, thus expanding the production tradable.
It is observed that quantitative analysis of the role of export
performance in achieving sustainable exchange rate of the
Naira (EXR) has received relatively less attention from
researchers. Admittedly, a series of recent academic papers
have touched on sustainability of EXR in relation to such
factors as FDI, inflation, interest rate, and similar
macroeconomic variables, but it is worth noting that little or
no emphasis has been given to the critical relationship
between EXR and EXP growth in the Nigerian context. Some
research has indicated that exchange rate is significant in
influencing not only export growth, but indeed severalother
economic factors, interest rate, inflation, FDI, and
agricultural production but non oil export growth as a
variable was excluded from many of these investigations,
hence the present attempt to fill-in the gap. It is further
observed that many of the past studies harped on the
agricultural sector as the largest employer of labour in
Nigeria.
There are perhaps two schools of thoughts concerning the
influence of exchange rate on export growth and thismaybe
due to variations in data periods, analytical models and
estimation methods. One school of thought argued thatfixed
exchange rate policy is significant in influencing export
growth while the other school of thought postulated that
market-driven exchange rate policy was significant in
influencing export growth. Some analysts believe that
market-driven exchange rate policy has been having
undesirable influence on the trend in agricultural share of
GDP in Nigeria and that it is imperative forgovernmentto fix
the rate in order to improve the supply of exports. Basically,
aimed at forecasting ability of the different models which
were compared to identify which of the models perform
better. Interestingly, it examined the causal relationship
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between exchange rate deregulation and the agricultural
share of the GDP in Nigeriafroman econometricperspective,
using time series data spanning a period of 26 years, 1986 –
2011. Data on export and GDP were analyzed using
Augmented Dickey Fuller unit root test, unrestricted vector
auto regression, pair-wisegrangercausality and vector error
correction model. The authors‟ results showedtheexistence
of unidirectional causality fromexchangeratetoagricultural
share of GDP and also exchange rate deregulation had
negative influence on agricultural share of GDP in Nigeria.
Methodology
Model Specification
The economic modelshave established relationshipbetween
industrial performance (average capacity utilisation) and
exchange rate, inflation,exports, debtstock,interestrate, per
capita income and energy and commercial loans distributed
to the industrial sector of the economy.
To understand effect of exchange rate volatilityon industrial
performance, this study improved on the works and models
of other researchers as average capacity utilisation, non –oil
export and energy were added as additional variables to
expand the previous models.
Model
Model
MOP=f(GDP,BLR,INF,CRIND,FDI,FX,ENER, NONOILXP,ACU)
MOP = a0 + a1GDP + a2FX + a3INF + a4BKLR + a5FDI +
a6Energ + a7ACU + a8CRIND + a9,NOILXP + e2
Where: MOP =Manufacturing Industrial output; RGDP =
Gross Domestic Product
FX=Foreign exchange rate; INF = Inflation; BLR= Bank
Lending rate
FDI = Foreign Direct Investment; CRIND = Commercial bank
loans to manufacturing industries; Energ watt= Energy
watts. ACU =Average capacity utilisation; Noilxp = Non-oil
export; e2 = error term. RGDP measures growth in the
economy over time.
Manufacturing industry output indicates the amount of
products the manufacturing companies are able to produce
with the installed industrycapacityutilisingassetsemployed
in the production.
The exchange rate is the rate at which one Naira is
exchanged for a currency of another country. This is the
conversion rate of one country's currency for another
country’s currency.
The model stated that themanufacturingindustry’soutputis
a linear function of the exchange rate, inflation, non-oil
export, foreign direct investment, RGDP, bank lending rate,
bank loans to manufacturing industries, and energy.
The model assumes that average manufacturing capacity
utilization is influenced by exchange rate volatility. This
assumption is predicated on the finding that the exchange
rate has a positive relationship with average manufacturing
capacity utilisation as the exchange rate varies, capacity
utilisation is likely to change. Ben-Salha found a robust
relationship between exchange rate stability and growth.
The effect of exchange rate volatility on manufacturing
performance can be eitherpositiveornegativedependingon
economic situation being examined. When an exchange rate
goes upward the manufacturing performanceisexpected, as
increase in exchange rate discourage importation, but
increases exportation, this is where the industry inputs are
sourced locally, and conversely, it will affect manufacturing
production due to increase in the cost of goods produced
since the inputs for productions are imported at a high
exchange rate. .
The Independent Variables
The independent variables or the explanatory variables are
explained below:
Exchange Rate Volatility
Exchange rate volatility is a variation or swing in exchange
rates over time. Volatilityclusteringisan approachedfeature
exchange rate changes. Taking this experience into account,
one may expect the relationship between industrial
production and volatility to differ across nations of lower
and higher volatility. In measuring exchange rate volatility;
the absolute percentage change of the exchange is adopted
as shown in Appendix table 1.
The absolute percentage change method is computed thus:
Vt = [Et – Et-1] X 1 Et-1
Where Vt is exchange rate volatility, Et is the spot exchange
rate in the current year and Et-1is the spot exchange rate in
the previous year.
Inflation Rate
Macroeconomic theories have confirmed that the general
price level in an economy is a determinant of industrial
production in an economy, whichmeanincreasemay change
the demand pattern of the consumers and changes in the
general price level affects the cost of industrial production
and thereby reduced demand.
Thus, inflation rate is an explanatory variable that take care
of changes in prices of general goods and services produced
in the economy, and it's represented in the model as INF.
Non-Oil Exports
A country exports lead to an enhanced inflow of foreign
capitals which is reinvested into the economy; leadingtojob
creation, improved income and consumption which further
bolsters the country industrial productions.
Exports measures the monetary value of allexports(both oil
and non-oil exports) produced in the country over a given
period, this is also an explanatory variable in the model, as it
involves goods and services (non-oil exports) moving out of
the country. The value of those good and services crossing
borders are also determined by exchange rate volatility
which in turn affects industrial sector and the economy.
Gross Dometic Products (GDP)
GDP measures the monetary value of all goods and services
produced in a country for a period, usually oneyear(both oil
and non-oil). However, todeterminethepercapitaincome of
an individual in a country the GDP is divided by the
population, GDP/population. It involves goods and services
moving into the country. The value of those good and
services are determined by exchange rate volatility.
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Presentation of Data Analysis and Results
Co-Integration Test
It had been identified that the series of the variables are
integrated of order zero and one. So we proceeded to the
formal testing of long run co-integration by performing the
Autoregressive Distribution Lag (ARDL) co-integration test
between MOP, FDI, BLR, INF, FEX, NOILXP, CRIND, ENERG,
GDP, and ACU. The optimal lag length wasdeterminedbythe
Akaike Information Criterion (AIC). Using AIC as a guide, a
maximum lag order of 4 was chosen for the conditional
ARDL ECM. The F-statistic tested for thejointnullhypothesis
that the coefficients of the lagged level variablesare zero(i.e.
no long run relationship exists between them).
Table
Dependent Variable: MOPUT
Method: ARDL Short run relationship
Model selection method: Akaike info criterion (AIC)
Dynamic regressors (2 lags, automatic): NOILXP INF GDP FX FDI ENER CRIND BLR ACU
Number of models evalulated: 39366
Selected Model: ARDL(2, 1, 2, 2, 1, 2, 2, 2, 1, 0)
Variable Coefficient Std.Error t-Statistic Prob.*
MOPUT(-1) -0.102378 0.157738 -0.649040 0.5345
MOPUT(-2) 0.641789 0.187715 3.418943 0.0091
NOILXP 0.252684 0.993456 0.254348 0.8056
NOILXP(-1) 7.709960 1.133157 6.803968 0.0001
INF -31.86292 5.452971 -5.843222 0.0004
INF(-1) 16.89227 5.694918 2.966202 0.0180
INF(-2) 5.237297 4.603198 1.137752 0.2881
GDP -0.866777 0.155030 -5.591032 0.0005
GDP(-1) 0.278569 0.140500 1.982707 0.0827
GDP(-2) 0.377496 0.153659 2.456705 0.0395
FX -1.169408 4.873676 -0.239944 0.8164
FX(-1) 38.78512 6.028006 6.434154 0.0002
FDI 0.300459 0.155792 1.928585 0.0899
FDI(-1) 0.200921 0.155113 1.295316 0.2313
FDI(-2) -0.501358 0.250945 -1.997879 0.0808
ENER 39.24004 9.593979 4.090069 0.0035
ENER(-1) -9.068412 7.699061 -1.177859 0.2727
ENER(-2) 49.22145 7.326614 6.718172 0.0001
CRIND 3.848635 0.909791 4.230241 0.0029
CRIND(-1) -8.290826 1.492623 -5.554533 0.0005
CRIND(-2) 13.56079 1.982041 6.841832 0.0001
BLR -74.14012 18.61840 -3.982090 0.0040
BLR(-1) 50.08816 18.91705 2.647779 0.0294
ACU 1.293158 19.54320 0.066169 0.9489
C -2520.454 1853.593 -1.359767 0.2110
R-squared 0.997910 Mean dependent var 9396.982
Adjusted R-squared 0.991640 S.D. dependent var 2472.121
S.E. of regression 226.0327 Akaike info criterion 13.77732
Sum squared resid 408726.4 Schwarz criterion 14.91104
Log likelihood -202.3258 Hannan-Quinn criter. 14.15878
F-statistic 159.1574 Durbin-Watson stat 3.037859
Prob(F-statistic) 0.000000
Table 4.6b Long Run Coefficients
Variable Coefficient Std. Error t-Statistic Prob.
NOILXP 17.287928 6.578553 2.627923 0.0303
INF -21.132361 14.277748 -1.480091 0.1771
GDP -0.457484 0.195276 -2.342752 0.0472
FX 81.668555 25.862073 3.157850 0.0134
FDI 0.000049 0.581829 0.000083 0.9999
ENER 172.372624 49.044433 3.514622 0.0079
CRIND 19.797654 6.732802 2.940478 0.0187
BLR -52.219909 51.389150 -1.016166 0.3393
ACU 2.807614 42.923759 0.065409 0.9495
C -5472.231622 5397.509243 -1.013844 0.3403
Source: Author’s Computation
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Table ADRL Co-integration Approach
Null Hypothesis: No long-run relationships exist
Test Statistic Value K
F-statistic 12.85481 9
Critical Value Bounds
Significance I0 Bound I1 Bound
10% 1.88 2.99
5% 2.14 3.3
Source: Author’s Computation, E-view 9
Co-integration test examines how time series may be
individually non stationarity and drifte extensively away
from equilibrium can be paired, that is, co-integration
involves a certain stationary linear combinationof variables,
which are individually non stationary but integrated to an
order, hence, i examined the co-integration of the variables
as presented in Table above. The result suggested thata long
run relationship exists among the variables owingto thefact
that value of 12.85481 of the F-statistic (test statistic)is
greater than the upper bound and lower bound by all the
reported conventional critical values. Thus the null
hypothesis of no long run relationship was rejected and the
alternative hypothesis of the long run relationship between
the variables are accepted.
From the table above the P-valuefor thef-statisticis0.00000
which is less than 0.05. At 5% significance level, we reject
the null hypothesis and conclude that theestimated model is
statistically significant. The t-test showed the significance of
each parameter in the model, as seven variables in the
model are significant while the remaining two variables’
namely foreign direct investment and Average capacity
utilisation are not significant. The coefficient of
determination which is the adjusted R-squared is 99 and R-
squared is 99.7 which indicates the independent variables
considered and the remaining variation are captured by
error term, therefore, we conclude that ourestimated model
is of good fit and reliable for policy making. The Durbin-
Watson is 3.04 which are more than 2.5, which falls within
acceptable value. The F-statistic is 159.
Conclusion and Recommendation
Research related to exchange rate volatility still remains an
area of controversy to economists and finance experts,
especially in developing countries, despite a relatively
enormous body of literature in this area. This is largely
because the exchange rate is not only an important relative
price of one currency in term of otherthat connects domestic
and world markets for goods and assets, but it also signals
the competitiveness of a country’s exchange power with the
rest of the world in a global market. Besides, it also serves as
an anchor which supports sustainable macroeconomic
balances in the long run. There is, therefore, no simple
answer to what determines the equilibrium real exchange
rate, and estimating the degree of exchange rate volatility
and misalignment remains one of the most challenging
empirical problems in macroeconomics.
The study examined effect of exchange rate volatility on
industrial performance in Nigeria with the research
problem; exchange rate volatility has contributed greatly to
the low performance of industrial sector. The objective was
to examine the effect of exchange rate volatilityon industrial
performance in Nigeria.
Theoretically, the exchangeratemanagementwasembraced
by government after the SAP to promote manufacturing
exports, by not relying on oil exports only after realising
that the (ISI) importssubstitution industriesembarkedupon
before SAP did not do Nigeria industrial sector and the
economy any good, therefore, the government which to
discourage importations; and enhanced localusageof inputs
and industrial sector’s performance (output) however, the
exchange rate volatility disrupted the drive of the monetary
authority to champion industrial development and growth.
Data used were collected from primary and secondary
source and subjected to analysis using ADF and PPT to test
for unit roots in order to determine non stationarity among
the variables, likewise ARDL and bound test was carried out
to test for short and long run co-integration between the
dependent and independent variables. Diagnostic and
normality test was done to for stability. The bound test
established a long run relationship among the variables.
Chi-square and mean scores were used to analyse the
primary data. The results from the primary data analysed
show the existence of relationship between inflation, bank
lending rate, exchange rateandindustrialoutput.Theresults
were supported by theoretical evidences.
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