Effectiveness of monetary policy in stimulating economic growth in nigeria
Table Of Contents
Chapter ONE
INTRODUCTION
- 1.1Introduction
- 1.2Background of Study
- 1.3Problem Statement
- 1.4Objective of Study
- 1.5Limitation of Study
- 1.6Scope of Study
- 1.7Significance of Study
- 1.8Structure of the Research
- 1.9Definition of Terms
Chapter TWO
LITERATURE REVIEW
- 2.1Overview of Monetary Policy
- 2.2Historical Development of Monetary Policy
- 2.3Theoretical Frameworks in Monetary Policy
- 2.4Objectives of Monetary Policy
- 2.5Tools and Instruments of Monetary Policy
- 2.6Impact of Monetary Policy on Economic Growth
- 2.7Criticisms of Monetary Policy
- 2.8Empirical Studies on Monetary Policy
- 2.9Monetary Policy Transmission Mechanisms
- 2.10Challenges in Implementing Monetary Policy
Chapter THREE
RESEARCH METHODOLOGY
- 3.1Research Design
- 3.2Research Method
- 3.3Sampling Technique
- 3.4Data Collection Methods
- 3.5Data Analysis Techniques
- 3.6Research Ethics
- 3.7Validity and Reliability
- 3.8Limitations of Research Methodology
Chapter FOUR
DATA PRESENTATION AND ANALYSIS
- 4.1Overview of Research Findings
- 4.2Analysis of Monetary Policy Effectiveness
- 4.3Impact of Monetary Policy on Economic Indicators
- 4.4Comparison with Previous Studies
- 4.5Factors Influencing Monetary Policy Implementation
- 4.6Policy Recommendations
- 4.7Implications for Economic Growth
- 4.8Future Research Directions
Chapter FIVE
SUMMARY, CONCLUSION AND RECOMMENDATIONS
- 5.1Summary of Findings
- 5.2Conclusions
- 5.3Recommendations
- 5.4Contributions to Knowledge
- 5.5Implications for Policy and Practice
Thesis Abstract
This study investigates the effectiveness of monetary policy in stimulating economy growth in Nigeria using AK production Function and Vector Autoregressive (VAR) model. The empirical evidence depicts that economic growth in Nigeria is influenced by money supply, electric power consumption, gross fixed capital formation and trade openness. This shows that monetary policy is effective in maintaining economic growth on the long run. The impulse response function revealed that economic growth (GDP) respond to itself and does not respond to other variables like Consumer Price Index (CPI), Broad Money Supply (M2), Interest Rate (IR), Exchange Rate (ER) in some period, while in some period economic growth (GDP) respond to itself and other variable. The Granger causality test showed that there exist unidirectional, bilateral and independence causality. Thus Nigerian government through its monetary authorities should fine-tune the economy by incorporating other policies that will influence economic growth not only in the long run but also, in the short run period. This will go a long way in contributing to higher sustainable economic growth.
Thesis Overview
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