Monetary Policy And Economic Growth In Nigeria: Evidence From Nigeria
Journal Title: Advances in Social Sciences Research Journal - Year 2017, Vol 4, Issue 6
Abstract
This study investigates the impact of monetary policy on the economic growth of Nigeria using annual data covering the period of 1970 to 2012. Specifically, it seeks to: analyse the relationship between money supply and economic growth in Nigeria; determine the nature and direction of causality between money supply and economic growth. The study employs the Ordinary Least Square (OLS) techniques and the granger causality test. The result indicates a positive and insignificant relationship between money supply and economic growth. Furthermore, it indicates no causality between money supply and economic growth. The study recommends that government and relevant monetary authorities should ensure that money supply levels are effectively and efficiently monitored, managed and controlled so as to enhance, promote and achieve economic growth in Nigeria.
Authors and Affiliations
Uduakobong S. Inam, Ph. D, Blessing Sunday Ime
Keywords
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- EP ID EP328843
- DOI 10.14738/assrj.46.2806.
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