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AN ECONOMETRIC ANAYLSIS OF THE EFFECTS OF MONETARY POLICY ON NIGERIAN ECONOMY

Dept: ECONOMICS File: Word(doc) Chapters: 1-5 Views: 17

Abstract

This study aimed at analyzing through econometric methodology the effects of monetary policy in Nigeria economy. To meet the above objective, output growth was chosen as the dependent variable while real exchange rate, real interest rate and inflation was chosen as the independent variable. The ordinary least square was used in the regression estimation. From the empirical result, we realized that the entire explanatory variables are insignificant in the t-test, but in f-test we rejected the null hypothesis and conclude that the slope coefficient are not simultaneously equal to zero. We realizes from the battery test that there is a co integration between the explanatory band the dependent variables since its level of stationarity are the same. The policy implication of the result is that if monetary and banking policies are effectively applied, it will be consistent with determining the level of output growth in the economy.
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