The Dynamic Structure Of Exchange Rate, Unemployment, Inflation And Economic Growth: A Vector Autoregressive Approach For Nigeria

AbstractThis study evaluates the transmission channels between exchange rate, unemployment,inflation and economic growth through a multivariate trend and structural analysis. The scope of theresearch is from 1986 to 2013 using annual time series data collected from the CBN statisticalBulletin. This study employs the Vector Auto-regressive model through the ARDL bound test for co-integration.The study reveals that empirically, there exists significant relationships betweenexchange rate, unemployment, inflation and economic growth. It is therefore recommended thatmassive investments should be ca…