文章基本信息

标题：MONETARY POLICY SHOCKS AND ECONOMIC GROWTH IN NIGERIA
本地全文：下载
作者：Lateef Abiodun SALAMI ; Lateef Abiodun SALAMI ; Anu K. TORIOLA 等
期刊名称：Journal of Public Administration, Finance and Law
印刷版ISSN：2285-2204
电子版ISSN：2285-3499
出版年度：2021
卷号：10
期号：22
页码：246-258
DOI：10.47743/jopafl-2021-22-17
语种：English
出版社：Technopress
摘要：This study examines monetary policy shocks and economic growth in Nigeria. This study following ex post facto research design employed a regression model where economic growth was the dependent variable while money supply, inflation and interest rate were the explanatory variables. Time series data over the period of 1986 to 2018 sourced from Central Bank of Nigeria (CBN) Statistical Bulletin and World Bank Development Index (WDI) was utilized. The study employed the Vector Autoregression (VAR) techniques in the analysis. The result of the vector autoregression estimation shows that money supply exert a significant positive effect on economic growth in Nigeria while inflation and interest rate exert an insignificant positive effect on economic growth in Nigeria. The result proves that monetary policy shocks exert a significant effect on economic growth in Nigeria while interest rate and inflation do not show any effect. It was recommended that the CBN should ensure the downward review of the Monetary Policy Rate of 12% to 9 percent so as to enhance more financial accessibility.