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Original scientific paper

THE DYNAMICS OF EXCHANGE RATE EXPECTATIONS FORMATION: THE NIGERIAN PERSPECTIVE

Bernhard O. Ishioro   ORCID icon orcid.org/0000-0002-8072-6631 ; Delta State University, Abraka

Fulltext: english, pdf (389 KB) pages 431-460 downloads: 526* cite
APA 6th Edition
Ishioro, B.O. (2014). THE DYNAMICS OF EXCHANGE RATE EXPECTATIONS FORMATION: THE NIGERIAN PERSPECTIVE. Ekonomska misao i praksa, (2), 431-460. Retrieved from https://hrcak.srce.hr/130848
MLA 8th Edition
Ishioro, Bernhard O.. "THE DYNAMICS OF EXCHANGE RATE EXPECTATIONS FORMATION: THE NIGERIAN PERSPECTIVE." Ekonomska misao i praksa, vol. , no. 2, 2014, pp. 431-460. https://hrcak.srce.hr/130848. Accessed 17 May 2021.
Chicago 17th Edition
Ishioro, Bernhard O.. "THE DYNAMICS OF EXCHANGE RATE EXPECTATIONS FORMATION: THE NIGERIAN PERSPECTIVE." Ekonomska misao i praksa , no. 2 (2014): 431-460. https://hrcak.srce.hr/130848
Harvard
Ishioro, B.O. (2014). 'THE DYNAMICS OF EXCHANGE RATE EXPECTATIONS FORMATION: THE NIGERIAN PERSPECTIVE', Ekonomska misao i praksa, (2), pp. 431-460. Available at: https://hrcak.srce.hr/130848 (Accessed 17 May 2021)
Vancouver
Ishioro BO. THE DYNAMICS OF EXCHANGE RATE EXPECTATIONS FORMATION: THE NIGERIAN PERSPECTIVE. Ekonomska misao i praksa [Internet]. 2014 [cited 2021 May 17];(2):431-460. Available from: https://hrcak.srce.hr/130848
IEEE
B.O. Ishioro, "THE DYNAMICS OF EXCHANGE RATE EXPECTATIONS FORMATION: THE NIGERIAN PERSPECTIVE", Ekonomska misao i praksa, vol., no. 2, pp. 431-460, 2014. [Online]. Available: https://hrcak.srce.hr/130848. [Accessed: 17 May 2021]

Abstracts
This paper examines the nature of exchange rate expectations formation (whether it is static, forward or backward looking) and the major macroeconomic determinants of exchange rate expectations formation process in Nigeria. Based on a robust review of both empirical and theoretical evidences, the paper applied unit root test, the Johansen cointegration and Error Correction Mechanism (ECM) in the validation of the nature of exchange rate expectations formation in Nigeria. The paper found that in the context of inflationary expectations, exchange rate expectations formation follows the structuralists’ inflationary expectations. The paper also found that depending on the definition of exchange rate adopted, real income is significant in expectations formation and expectations formation does not follow the portfolio and chartists approaches. Previous changes in exchange rate were found to be significant in expectations formation depending on the definition of exchange adopted. The paper recommends that inflationary expectations should be incorporated into the policies of exchange rate expectations formation surveillance.

Keywords
Exchange Rate; Financial Assets; Rational Expectations; Unit Root

Hrčak ID: 130848

URI
https://hrcak.srce.hr/130848

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