Covid-19 Pandemic and the Socioeconomic Development in Nigeria: Evidence from Toda and Yamamoto Procedure

Kabiru Saidu Musa; Zahraddeen Mallam Saleh

Title:
Covid-19 Pandemic and the Socioeconomic Development in Nigeria: Evidence from Toda and Yamamoto Procedure

Authors:
Zahraddeen Mallam Saleh | Kabiru Saidu Musa

Cite This Article :

Zahraddeen Mallam Saleh | Kabiru Saidu Musa "Covid-19 Pandemic and the Socioeconomic Development in Nigeria: Evidence from Toda and Yamamoto Procedure" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-5, August 2020, pp.1022-1028, URL: https://www.ijtsrd.com/papers/ijtsrd33031.pdf

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Abstract :
This paper investigates the impact ofCovid-19 pandemic on the socioeconomic development of Nigeria using Modified Toda and Yamamoto causality test for the period spanning 23rd March -23rd July, 2020. The long run causality test outcome indicates that there is a bidirectional causality running from Covid-19 pandemic to exchange rate and from Covid-19 pandemic to crude oil price while unidirectional causality exists running from exchange rate to crude oil price. This suggests that Covid-19 pandemic has impacted on crude oil price and exchange rate. It is recommended that Nigerian government should continue struggling towards achieving economic diversification and also ensure that safety measures given by the NCDC is strictly followed in order to reduce the daily spread of the virus in the country.

Keywords :
Covid-19 Pandemic, Socioeconomic, Toda and Yamamoto Approach, Johansen and Juselius Co integration

Publication Details:

Unique Identification Number : IJTSRD33031

Published In : Volume-4 | Issue-5, August 2020

Page Number(s) : 1022-1028

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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