JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Dynamic Linkages Between Exchange Rate Uncertainty and Food Price Volatility in Lagos State, Nigeria
Author(s): Onyinyechukwu Onubogu, Adewale Dipeolu
Citation: Onyinyechukwu Onubogu, Adewale Dipeolu, (2020) "Dynamic Linkages Between Exchange Rate Uncertainty and Food Price Volatility in Lagos State, Nigeria," Journal of Applied Business and Economics, Vol. 22, Iss.14, pp. 164-172
Article Type: Research paper
Publisher: North American Business Press
Abstract:
This study employed the SDLOG and EGARCH model to examine Exchange Rate Uncertainty and Variations in Prices for a range of food commodities in Lagos State, Nigeria, from 2001 – 2016. The results showed evidences of persistent food price volatility and exchange rate volatility. Asymmetric effects of shocks in favour of price increase were detected. In addition, Exchange rate variations had significant effect on the price volatility of some food commodities. We suggest that greater attention should be given to the (high) level of food prices, which could mar decisions of farmers and marketers, and reduce demand for affected food commodities.