Assessment of the Effects of Monetary Policy Shocks from ECOWAS Member Countries to Nigeria
نویسندگان
چکیده
The paper evaluated the effects of monetary policy shocks from ECOWAS Member Countries to Nigeria using a combination quarterly, annual time-series and panel data spanning 1995–2021. Standard Global Vector-Autoregressive (GVAR) Model analysis was used draw structural inference for study on: consumer prices, international commodity prices (oil, agricultural raw material metal ore), exchange rate, interest rate (short long run), real output, money supply, export diversification index. result Impulse Response Function (IRF) revealed that resulting transmission member has diverse on is largely determined by extent accommodative stance. shock may occur likely be country-specific because an economic union hardly foundation share common or risk. Additionally, trade flow between rest ECOWAS, determines tendency such affect Nigeria. Finally, whether source, channel how much impact region will have.
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ژورنال
عنوان ژورنال: Journal of Social Science Studies
سال: 2023
ISSN: ['2329-9150']
DOI: https://doi.org/10.5296/jsss.v10i1.20930