EFFECT OF MONETARY POLICY ON INFLATION IN NIGERIA
| dc.contributor.author | Ayenajeyi, Joel Elisha | |
| dc.date.accessioned | 2023-12-14T08:35:32Z | |
| dc.date.available | 2023-12-14T08:35:32Z | |
| dc.date.issued | 2021-02-01 | |
| dc.description.abstract | This work examined the effect of Monetary Policy on inflation in Nigeria, covering the period of1986 to 2017. Yearly secondary data sourced majorly from Central Bank of Nigeria (CBN) Statistical Bulletin and National Bureau of Statistics (NBS) were used in this research. The Autoregressive-distributive Lag (ARDL) model was adopted for this study while the theoretical framework of this study was anchored on the Keynesian theory of inflation. The study limited itself to these explanatory variables; monetary policy Rate (MPR), money supply (M2), Liquidity Ratio (LR)) and Cash Reserve Ratio (CRR). These variables were tested on inflation using the multiple regression models as the main statistical tool of analysis. The studies revealed that monetary policy measures are weak in tackling inflationary rate in Nigeria. However, it was discovered that there is a long run relationship between the variables based on the co-integration test conducted. The study also revealed that there is positive relationship between monetary policy rate, money supply, liquidity ratio and cash reserve ratio but money supply and cash reserve ratio are statistically insignificant Also, the study revealed that monetary policy rate and liquidity ratio has a significant effect on in flation. More so, empirical findings from the study indicate that monetary policy rate, money supply, liquidity ratio and cash reserve ratio have significant influence on inflation in Nigeria. It is therefore, recommended that government should review the monetary policy rate, cash reserve ratio and increase money supply in the economy so as to boost economic activities and curb inflationary rate in Nigeria. There should be proper coordination of monetary policy instruments to enable policy measures transmission in order to have a beneficial inflationary rate in Nigeria. | en_US |
| dc.identifier.citation | A DISSERTATION SUBMITTED TO THE SCHOOL OF POST GRADUATE STUDIES, NASARAWA STATE UNIVERSITY KEFFI, IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE AWARD OF MASTERS’ OF SCIENCE (M. Sc) DEGREE IN ECONOMICS. | en_US |
| dc.identifier.uri | https://keffi.nsuk.edu.ng/handle/20.500.14448/6527 | |
| dc.language.iso | en | en_US |
| dc.publisher | DEPARTMENT OF ECONOMICS FACULTY OF SOCIAL SCIENCES NASARAWA STATE UNIVERSITY, KEFFI | en_US |
| dc.title | EFFECT OF MONETARY POLICY ON INFLATION IN NIGERIA | en_US |
| dc.type | Thesis | en_US |