CHAPTER ONE INTRODUCTION BACKGROUND OF THE STUDY The importance of monetary policy in the economic development of developing countries has attracted a lot of attention in recent years. The perverse effect of interest rate controls, overvalued exchange rates, controlled lending and other control variables have led to a large volume of research relating to monetary … Read more
CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY One of the greatest challenges facing nations is how to achieve sustainable economic growth and development and formal articulation of how money affects economic growth dates back to the time of Adams Smith and later championed by the monetary economists (Adefeso and Mobolaji, 2010:13). This is … Read more
TABLE OF CONTENTS Title page- – – – – – – – – i Certificate- – – – – – – – – ii Dedication- – – – – – – – – iii Acknowledgement- – – – – – – iv Table of contents- – – – – – – – v … Read more
ABSTRACT Effectiveness of monetary policy in stimulating economic growth 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 … Read more
CHAPTER ONE INTRODUCTION Background of the Study Because money can affect many economic variables that are important to the wellbeing of any economy, politicians and policy makers throughout the world care about the conduct of monetary policy- that is -the management of inflation rates, exchange rates and interest rates (Cukierman, Webb and Neyapti, 1992). The … Read more