ABSTRACTThis study investigates the effects of exogenous
variables (Exchange Rate, Interest
Rate and Inflation Rate) on gross domestic product of Nigeria. Using
annual data for the period 2013-2022, the study employed the Ordinary Least
Square (OLS) technique to examine the effect ofExchange rate fluctuations,
Interest rate, Inflation rate and Unemployment
rate on
economic growth. The result revealed
that exchange rate has positive impact but not significant with (β =0.014, t =
1.783, Pns) this is affirms previous studies that developing countries are
relatively better off in the choice of flexible exchange rate regimes. The
result also indicated that interest rate and rate of inflation have negative
impact on economic growth but not significant.
Therefore, the study recommends that government should encourage the
export promotion strategies in order to maintain a surplus balance of trade
which will lead to favorable exchange rate; and also conducive environment,
adequate security, effective fiscal and monetary, as well as infrastructural
facilities should be provided so that foreign investors will be attracted to
invest in Nigeria.Get the Complete Project Material Now!!!
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