Title: Examining The Interplay Of Nigeria's Exchange Rates, Inflation And Exports On Gdp (2008-2019)
Authors: Kolade Emmanuel AYOTOKUN, Musaphau ANIMASHAHUN, Adekunle Mudasiru ADEYEMI, Akeem Olarewaju YUNUS, Atinuke Abidemi ADENIJI, Israel Kayode ADEBAYO, Lawrence Olatoye ODETUNDE and Bosede ABUBAKRE.
Volume: 8
Issue: 8
Pages: 99-106
Publication Date: 2024/08/28
Abstract:
This paper is examining the interplay of money exchange rate, inflation rate, and export rate on gross domestic products in Nigeria. The data used covered a period of twelve (12) years. The model fitted for the data was Y = 599.911 + 0.517388 X1 - 25.5665 X2 + 0.734820 X3. Findings showed that both the P-P-Plot and Histogram were normally distributed. Analysis of coefficient of determination (R = 0.7730) showed that 77.3% of variation in predictors can be explained while the remaining 22.7% variation can be explained by other factors. The value of R2 (0.597564) revealed that the model was 59.7% fit while the adjusted R squared (0.446650) showed that the additional predictor variable will be 44.7%. The test of overall relationship showed that Fc = 64.625 > F? = 3.95964, therefore, H0 was rejected. Also, there is no problem of multicollinearity since VIF < 10.