THE EFFECT OF INFLATION AND INTEREST RATE ON ECONOMIC GROWTH OF NIGERIA (A CASE STUDY OF FIRST BANK)

TABLE OF CONTENT
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of content

CHAPTER ONE
1.0 INTRODUCTION of “the effect of inflation and interest rate on economic growth”
1.1 Statement of problems
1.2 Objective of study
1.3 Research question
1.4 Statement of hypothesis
1.5 Significance of study
1.6 Scope & limitation
1.7 Definition of terms
1.8 Reference

CHAPTER TWO
2.0 LITERATURE REVIEW of “the effect of inflation and interest rate on economic growth”

2.1 interest rate management in Nigeria
2.2 Factors influence interest rate
2.3 Management prior 2003/ monetary development
2.4 Case for interest ceiling
2.5 Case against interest ceiling
2.6 Inflation and unemployment
2.7 Inflation and economic growth
2.8 Effect of inflation on savings/ growth
2.9 Inflation and growth in developing nation
2.2.1 Empirical study on relationship on inflation
And economic growth in Latin America other countries
2.2.2 Empirical evidence based on some African countries
2.2.3 Reference.
CHAPTER THREE
3.0 RESEARCH DESIGN AND METHODOLOGY of “the effect of inflation and interest rate on economic growth”

3.1 Research design
3.2 Research methodology
3.3 Area of study
3.4 Location of data
3.5 Instrument of data collection
3.6 Method of data presentation
3.7 Techniques of data analysis
CHAPTER FOUR
4.0 PRESENTATION, ANALYSIS AND INTERPRETATION of “the effect of inflation and interest rate on economic growth”
4.1 Presentation of data
4.2 Analysis of result
4.3 Test of hypothesis
4.4 Interpretation.
Chapter five
5.0 SUMMARY, RECOMMENDATION AND CONCLUSION
5.1 Summary of findings
5.2 Recommendation
5.3 Conclusion
Bibliography

ABSTRACT
The main objective of this study is to investigate the effect of inflation and interest rate on economic growth of Nigeria. Unit root test (Augmented Dickey- Fuller test) has been exploited to check the integration order of the variables. Acointegration analysis with four variables (c growth, interest rate, GDP, and inflation level) is employed. Study adopted Johansen test. Findings indicated that both trace test and max eigenvalue static showed that the four equations have significant existent 1% or 5%. It means that all variables have long term equilibrium relationship. Study adopted the same four variables to discuss Granger Causality relationship; findings indicated that inflation causes interest rate. On the other hand all other variables are independent with each other. Regressionwas conducted to test growth rate with interest rate which showed that current interest rate has an influence power on growth rate. Also, regression used to test growth rate with inflation rate; it showed that inflation rate has influence power on growth rate. Finally regression used to test GDP, interest rate, and inflation rate together; results have shown that current GDP and one lag GDP have influence power to growth rate.

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