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Analysis Of The Responsiveness Of Non-Oil Exports To Fiscal And Monetary Policy Actions

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  • RICHARDSON KOJO EDEME

Abstract

The paper aims to examine the responsiveness of non-oil exports to monetary and fiscal policy actions and to ascertain if there is any significant difference in the response of non-oil exports to fiscal and monetary policy actions. Adopting the partial coefficient determination framework, the paper found that there is monetary-fiscal policy interaction effect in the short-run but the effect became undefined in the long-run. It was also revealed that the response of non-oil exports is dominated by fiscal policy actions than the response to monetary policy. Monetary policy influences are temporary whereas the fiscal policy effect seems permanent. In this regard, it will be more appropriate to place greater reliance on fiscal policy form of stabilization action. The adoption of monetary-fiscal policy mix is also recommended. This is because mix policy actions operates more quickly and expand non-oil exports within a short while. Though, the interaction effect is undefined in the long run, it is appropriate to stimulate non-oil export in the short-run.

Suggested Citation

  • Richardson Kojo Edeme, 2017. "Analysis Of The Responsiveness Of Non-Oil Exports To Fiscal And Monetary Policy Actions," Journal of Academic Research in Economics, Spiru Haret University, Faculty of Accounting and Financial Management Constanta, vol. 9(2 (July)), pages 264-281.
    • Handle: RePEc:shc:jaresh:v:9:y:2017:i:2:p:264-281
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    Citations

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    Cited by:

    1. Moses K. Tule & Oloruntoba S. Ogundele & Martins O. Apinran, 2018. "Efficacy of Monetary Policy Instruments on Economic Growth: Evidence from Nigeria," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 8(10), pages 1239-1256, October.
    2. Zuriadah Ismail & Noor Lela Ahmad & Norlia Mat Norwani & Mohd Nazir bin Md Zabit, 2019. "Incentive Effects of Granting Equity-Based Payment on Reducing Top Executive Turnover," Research in World Economy, Research in World Economy, Sciedu Press, vol. 10(5), pages 157-166, December.

    More about this item

    Keywords

    Responsiveness; monetary policy; fiscal Policy; non-oil exports; partial coefficient determination framework.;
    All these keywords.

    JEL classification:

    • C31 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions; Social Interaction Models
    • O23 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Fiscal and Monetary Policy in Development

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