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Ditch the NAIRA and Champion the ECO? A Post-Forex Crisis Assessment

Author

Listed:
  • Onyeaka, Keleenna

    (London School of Economics and Political Science, London)

  • Agbugba, Ikechi Kelechi

    (Department Of Agricultural and Applied Economics, Rivers State University, Port Harcourt, Nigeria.)

  • Iheonu, Chimere Okechukwu

    (Department of Economics, University of Nigeria, Nsukka, Nigeria)

Abstract

The 2014-2017 forex crisis in Nigeria highlights two significant drawbacks of oil dependency in the country. the first being the challenge monetary policy in Nigeria faces in facilitating both stability and economic growth. The second drawback is the inability of the countries exchange rate regime to cope with shocks to the oil-dependent economy.

Suggested Citation

  • Onyeaka, Keleenna & Agbugba, Ikechi Kelechi & Iheonu, Chimere Okechukwu, . "Ditch the NAIRA and Champion the ECO? A Post-Forex Crisis Assessment," Journal of Economic and Sustainable Growth 3, Office Of The Chief Economist, Development Bank of Nigeria, vol. 1.
    • Handle: RePEc:dbn:vo2is1:5002
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    References listed on IDEAS

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    More about this item

    Keywords

    CBN; ECOWAS; Forex; Nigeria; OCA; WAMZ;
    All these keywords.

    JEL classification:

    • R10 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - General

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