Umar Bala - Academia.edu (original) (raw)
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CSIC (Consejo Superior de Investigaciones Científicas-Spanish National Research Council)
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Papers by Umar Bala
Asian Bulletin of Energy Economics and Technology
This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Ango... more This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Angola, Libya and Nigeria. Three different oil price data were applied in this study; the specific spot oil price of individual countries, the OPEC reference basket oil price and an average of the Brent, WTI and Dubai oil price. The dynamic panels ARDL were used to estimate the short and the long-run impacts. Also, this study partitioned the oil price into positive and negative changes to capture asymmetric impacts and found both positive and negative oil price changes positively influenced inflation. However, the impact was found to be more significant when oil prices dropped. The results from the study also found that money supply, the exchange rate and GDP are positively related to inflation while food production is negatively related to inflation. Accordingly, policymakers should be cautious in formulating policies between the positive and negative changes in oil prices as it was shown t...
This study investigated the impact of monetary policy rate, interbank rate and savings deposit on... more This study investigated the impact of monetary policy rate, interbank rate and savings deposit on inflation rate in Nigeria over the period of January, 2006 – November, 2014. To achieve the objective, an autoregressive distributed lag model was employed to estimate both the long-run and short-run models. The result of the long-run model reveals that monetary policy rate, interbank rate and savings deposit were all negatively and significantly affecting inflation rate within the studied period. In similar vein, in the short-run, monetary policy rate and interbank rates were negative and significant in determining inflation fluctuations. Though savings deposit depicts positive sign but was found to be insignificant in the short-run. As such, both long-and short-run findings were in conformity with the theoretical expectations. Therefore, the policy suggestion is that the central bank of Nigeria (CBN) should consider strengthening the use these policy instruments in controlling inflati...
Asian Bulletin of Energy Economics and Technology
This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Ango... more This study investigates the asymmetric impacts of oil price changes on inflation in Algeria, Angola, Libya and Nigeria. Three different oil price data were applied in this study; the specific spot oil price of individual countries, the OPEC reference basket oil price and an average of the Brent, WTI and Dubai oil price. The dynamic panels ARDL were used to estimate the short and the long-run impacts. Also, this study partitioned the oil price into positive and negative changes to capture asymmetric impacts and found both positive and negative oil price changes positively influenced inflation. However, the impact was found to be more significant when oil prices dropped. The results from the study also found that money supply, the exchange rate and GDP are positively related to inflation while food production is negatively related to inflation. Accordingly, policymakers should be cautious in formulating policies between the positive and negative changes in oil prices as it was shown t...
This study investigated the impact of monetary policy rate, interbank rate and savings deposit on... more This study investigated the impact of monetary policy rate, interbank rate and savings deposit on inflation rate in Nigeria over the period of January, 2006 – November, 2014. To achieve the objective, an autoregressive distributed lag model was employed to estimate both the long-run and short-run models. The result of the long-run model reveals that monetary policy rate, interbank rate and savings deposit were all negatively and significantly affecting inflation rate within the studied period. In similar vein, in the short-run, monetary policy rate and interbank rates were negative and significant in determining inflation fluctuations. Though savings deposit depicts positive sign but was found to be insignificant in the short-run. As such, both long-and short-run findings were in conformity with the theoretical expectations. Therefore, the policy suggestion is that the central bank of Nigeria (CBN) should consider strengthening the use these policy instruments in controlling inflati...