Effect Of Money Market Instrument On The Economic Growth Of Nigeria:- Nkwoji, Esther A

ABSTRACT

The study investigated the effect ofmoney market instruments on economic growth ofNigeria using annual secondary time series data from 2000 to 2016 sourced from the CBN statistical bulletin. The money market instruments considered in the study are treasury certificate, Treasury bill, commercial papers and banker’s acceptance and economic growth was proxied by real GDP. The multiple regression analysis was used to analyze the data collected. The results showed that treasury bills, certificate of deposit and banker’s acceptance were the significant money market instruments that affected economic growth in Nigeria. Consequently, it was recommended that government should create the appropriate macroeconomic policies and legal framework towards sustaining the money marketfor productive activities, investments and the ultimate goal ofeconomic growth in Nigeria.