Saudi Journal of Economics and Finance (SJEF)
Volume-2 | Issue-05 | 224-232
Original Research Article
Impact of Exchange Rate to Financial Remitanceses Econometric Evidence from Nigeria, (1990-2016). OLS Regression Approach
Ezema, Clifford Anene, Nwekwo, Ngozi Mabel, Agbaji, Benjamin Chukwuma
Published : Oct. 30, 2018
Abstract
The study measured the impact of exchange rate to financial remittance in
Nigeria for the period 1990 to 2016 using the traditional ordinary least square method for
estimation. Also, empirical and theoretical evidence from Nigeria. Africa and the
continent was compared. The analyses of the OLS regression showed evidence that real
effective exchange rate positively and significantly impacted on financial remittance in
Nigeria. Similarly, estimates from the ordinary least square model provide evidence to
show that exchange rate also positively significantly impacted on other macroeconomic
variables such as money supply but negatively to economic growth under the period of
the study. The result points to the fact that the macroeconomic variables and financial
remittance in Nigeria if well managed can engineer the Nigerian economy to greater
growth.