Bawa, Sani; Omotosho, Babatunde S.; Doguwa, Sani I. - In: CBN Journal of Applied Statistics 06 (2015) 2, pp. 19-37
This study examines the persistence of currency substitution in Nigeria by applying the Bounds testing approach to cointegration and including a ratchet variable in the estimated Autoregressive Distributed Lag (ARDL) model. Empirical results show that factors such as exchange rate risks,...
