Foreign portfolio investment and monetary policy: A disaggregated analysis In Nigeria
Can, Nurettin, Atabaev, Nurlan, Adamu, Yusuf, Uulu, Talant Asan and Muhyaddin, Sanar (2022) Foreign portfolio investment and monetary policy: A disaggregated analysis In Nigeria. Academy of Entrepreneurship Journal, 28. pp. 1-17. ISSN 1528-2686
|
Text
WURO_00 foreign-portfolio-investment-and-monetary-policy-a-disaggregated-analysis-in-nigeria.pdf - Published Version Available under License Creative Commons Attribution. Download (920kB) | Preview |
Abstract
The study used Toda-Yamamoto causality framework, an augmented vector autoregressive model, to examine the response of foreign portfolio investment to monetary policy decisions in Nigeria. The results indicated no causality running from any of the monetary policy tools to aggregate foreign portfolio investment. However, a unidirectional causality was found running from the total foreign portfolio investment to the policy rate and cash reserve ratio. This suggests that monetary policy is reactive, as developments in the foreign portfolio markets influence it. The results also showed that each key component response to specific monetary policy instruments with varying levels of magnitudes.
| Item Type: | Article |
|---|---|
| Keywords: | Monetary Policy, TodaYamamoto, Foreign Portfolio Investment, Nigeria, CBN |
| Divisions: | North Wales Business School |
| Depositing User: | Hayley Dennis |
| Date Deposited: | 20 Oct 2023 09:06 |
| Last Modified: | 20 Oct 2023 09:06 |
| URI: | https://glyndwr.repository.guildhe.ac.uk/id/eprint/18088 |
Actions (login required)
 |
Edit Item |