EFFECTS OF MONETARY POLICY MEASURES ON NIGERIA'S ECONOMIC GROWTH

Nwankwo, Simon Nwagballa and Agbo, Elias Igwebuike (2021) EFFECTS OF MONETARY POLICY MEASURES ON NIGERIA'S ECONOMIC GROWTH. Journal on Banking Financial Services & Insurance Research, 11 (5). pp. 12-27. ISSN 231-4288

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Abstract

This study examined the effect of monetary policy measures on Nigeria’s economic growth. The natural log of real GDP was employed as the dependent variable against the explanatory monetary policy variables- interest rate, discount rate and open market rate. The time series data used spanned the period from 1985 to 2015. The study adopted an Ordinary Least Squares technique and also conducted the unit root tests. The results of the study suggest that while Money supply (OMR) has significant positive effect on Nigeria’s economic growth, the effect of interest rate and discount is positive but non - significant. The study recommends the that government should channel its attention on the control of money supply as a veritable monetary policy instrument for enhancing price stability and boosting Nigeria’s economic growth.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 04 Sep 2021 21:47
Last Modified: 04 Sep 2021 21:47
URI: http://eprints.gouni.edu.ng/id/eprint/3091

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