Effect of exchange rate uncertainty, energy prices and sectoral spending on agriculture value added, household consumption, and domestic investment

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dc.contributor.authorIorember, Paul Terhemba
dc.contributor.authorYusoff, Nora Yusma Mohamed
dc.contributor.authorAbachi, Philip Terhemen
dc.contributor.authorUsman, Ojonugwa
dc.contributor.authorAlola, Andrew Adewale
dc.date.accessioned2024-06-14T09:30:30Z
dc.date.available2024-06-14T09:30:30Z
dc.date.issued2024en_US
dc.departmentFakülteler, İşletme Fakültesi, İngilizce İşletme Bölümüen_US
dc.description.abstractThe agricultural value chain is underpinned by the interdependence of agricultural value added, household consumption and domestic investment. Understanding the complex interactions between these microeconomic outcomes and the uncertainties in the macroeconomic variables of exchange rates, energy prices and sectoral spending remains under-researched. Therefore, this study examines the impact of exchange rate, energy prices and sectoral spending on agricultural value added, household consumption and domestic investment in Nigeria from 1981 to 2020. Using Kernel regularized least squares (KRLS), the results show that the average pointwise marginal effects of exchange rate and agricultural spending are positive, while the average pointwise marginal effect of energy price is significantly negative for the agricultural value-added model. The results also show that the exchange rate, energy prices and agricultural expenditure all have a positive effect on household consumption. Regarding domestic investment, the effect of the exchange rate is positive and statistically insignificant, while the effects of energy prices and agricultural expenditure are negative and statistically significant. The study recommends the need to strengthen the social safety nets currently in place in Nigeria to support households that are vulnerable to exchange rate fluctuations. In addition, incentives should be given to households and farmers to help use renewable energy sources such as solar or wind power for agricultural activities. Also, investment in value chains and agribusiness initiatives should be encouraged rather than just in crop production.en_US
dc.identifier.doi10.1016/j.heliyon.2024.e30138en_US
dc.identifier.issue9en_US
dc.identifier.pmid38707373en_US
dc.identifier.scopus2-s2.0-85190963458en_US
dc.identifier.scopusqualityN/Aen_US
dc.identifier.urihttps://hdl.handle.net/11467/7299
dc.identifier.urihttps://doi.org/10.1016/j.heliyon.2024.e30138
dc.identifier.volume10en_US
dc.identifier.wosWOS:001235969700001en_US
dc.identifier.wosqualityN/Aen_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.indekslendigikaynakPubMeden_US
dc.language.isoenen_US
dc.publisherElsevieren_US
dc.relation.ispartofHeliyonen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectExchange rate, Energy prices, Agriculture expenditure, Households consumption, Machine learning, Kernel regularized least squaresen_US
dc.titleEffect of exchange rate uncertainty, energy prices and sectoral spending on agriculture value added, household consumption, and domestic investmenten_US
dc.typeArticleen_US

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