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首页> 外文期刊>Acta Universitatis Danubius. Oeconomica >Re-examining Exchange Rate Regimes and Inflation Nexus: An ARDL Analysis for Nigerian Case
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Re-examining Exchange Rate Regimes and Inflation Nexus: An ARDL Analysis for Nigerian Case

机译：重新审视汇率制度和通货膨胀联系：尼日利亚案例的ARDL分析

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摘要

Exchange rate has remained devastated in Nigeria while the problem of high inflation lingers. Therefore, this paper re-examines the effect of exchange rate regimes on inflation in the country. We used the Autoregressive Distributed Lag (ARDL) approach for our analysis. Contrary to most studies on Nigeria, we tested the stability of our inflation model. The past one year value of exchange rate has a negative and significant impact on the current inflation rate. Inflation rate increased more during the fixed exchange regime compared to the floating exchange rate regime. During the floating exchange rate regime, as the exchange rate increases, the inflation rate decreases and vice versa. This suggest that the floating exchange rate regime policy is preferable for combating increases in inflation rate compared to the fixed exchange rate. The lags of money supply have a direct relationship with inflation rate. The past two years value of interest rate also has a direct relationship with inflation rate. It is imperative that future studies on Nigeria consider wider spectrums of exchange rate regimes than ours.
机译：尼日利亚的汇率仍然毁灭性的，而高通胀问题依然存在。因此，本文重新审视了汇率制度对国内通货膨胀的影响。我们使用自回归分布式滞后（ARDL）方法进行分析。与大多数有关尼日利亚的研究相反，我们测试了通胀模型的稳定性。过去一年的汇率值对当前的通货膨胀率具有负面和重大影响。与浮动汇率制相比，固定汇率制期间通货膨胀率增加更多。在浮动汇率制期间，随着汇率的上升，通货膨胀率下降，反之亦然。这表明，与固定汇率相比，浮动汇率制政策更适合应对通货膨胀率的上升。货币供应的滞后与通货膨胀率有直接关系。过去两年的利率值也与通货膨胀率有直接关系。当务之急是，有关尼日利亚的未来研究应考虑比我们的汇率制度更广泛的汇率制度。

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