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Impact of Exchange Rate on the Performance of Small and Medium Enterprises in Nigeria

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Impact of Exchange Rate on the Performance of Small and Medium Enterprises in Nigeria


Edoko, Tonna David | Nwagbala, Stella Chinelo | Okpala, Ngozi Eugenia

https://doi.org/10.31142/ijtsrd14449



Edoko, Tonna David | Nwagbala, Stella Chinelo | Okpala, Ngozi Eugenia "Impact of Exchange Rate on the Performance of Small and Medium Enterprises in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-4, June 2018, pp.1553-1559, URL: https://www.ijtsrd.com/papers/ijtsrd14449.pdf

Nigeria is currently experiencing an unprecedented fluctuation in the price of oil and Naira-Dollar exchange rate depreciation, with exchange rate volatility being more pronounced as it concerns the issues of macroeconomic financial stability, thus, affecting the performance of small and medium enterprises in Nigeria in terms of survival rate and contribution to GDP, this study examines the impact of exchange rate on the performance of small and medium enterprises in Nigeria using econometric regression model of the Ordinary Least Square (OLS). Findings revealed that exchange rate, capital, tax, managerial skill, market size, infrastructure and level of education conform to the a priori expectation of the study and are statistically significant in explaining the SMEs performance in Nigeria. In the light of the above empirical findings in the analysis carried out, the study therefore recommends that government should as a deliberate policy, encourage rural based industrialization whereby investors in different communities would be encouraged to establish small and medium scale industries that would be based entirely on local raw materials including machines and equipment. This will boost and develop the local market. There should be policies that focus on technical education at all levels for the development of human capital. Finally, the government should vigorously seek to improve the international stand of the economy with other economies of the world so as to enlarge the market for Nigerian exports. It should also re-orient its policy towards the external sector and ensure that the sector contributes optimally to output growth.

Exchange Rate, Small and Medium Enterprises (SMEs), Performance, Regression Model, Naira-Dollar


IJTSRD14449
Volume-2 | Issue-4, June 2018
1553-1559
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)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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