The Effectiveness Of Monetary Policy In Combating Inflationary Pressure In Nigeria Economy
ABSTRACT
This study focuses mainly on the effectiveness of monetary
policy in combating inflationary pressure in Nigeria economy. The study was
therefore carried out to examine the monetary policy strategies and inflation
situation in Nigeria, the trend in inflation situation and monetary policy
strategies, the causes of inflation, the effect of monetary policy in combating
inflationary pressure in Nigeria. The area of study of this research work is
the Nigeria economy which covers a period of 1984-2012. The work adopted
secondary data from Central Bank of Nigeria statistical bulletin, monetary
policy ratios, interest rate, cash reserve ratio, inflation rate, textbooks,
internet et al. The work adopted the multiple regression analysis for the data
analysis and the Pearson correlation test and granger causality test to test
the hypothesis. It was observed that the monetary policy rate do granger cause
inflation while interest rate and cash reserve ratio does not significant cause
increase in inflation. It result indicated shows that there is a positive
relationship between interest rate and inflation with a co-efficient 0.104.
0.0
NWAIGWE, C (2021). The Effectiveness Of Monetary Policy In Combating Inflationary Pressure In Nigeria Economy. Repository.mouau.edu.ng: Retrieved Dec 23, 2024, from https://repository.mouau.edu.ng/work/view/the-effectiveness-of-monetary-policy-in-combating-inflationary-pressure-in-nigeria-economy-7-2
CHIAMAKA, NWAIGWE. "The Effectiveness Of Monetary Policy In Combating Inflationary Pressure In Nigeria Economy" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 13 Jul. 2021, https://repository.mouau.edu.ng/work/view/the-effectiveness-of-monetary-policy-in-combating-inflationary-pressure-in-nigeria-economy-7-2. Accessed 23 Dec. 2024.
CHIAMAKA, NWAIGWE. "The Effectiveness Of Monetary Policy In Combating Inflationary Pressure In Nigeria Economy". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 13 Jul. 2021. Web. 23 Dec. 2024. < https://repository.mouau.edu.ng/work/view/the-effectiveness-of-monetary-policy-in-combating-inflationary-pressure-in-nigeria-economy-7-2 >.
CHIAMAKA, NWAIGWE. "The Effectiveness Of Monetary Policy In Combating Inflationary Pressure In Nigeria Economy" Repository.mouau.edu.ng (2021). Accessed 23 Dec. 2024. https://repository.mouau.edu.ng/work/view/the-effectiveness-of-monetary-policy-in-combating-inflationary-pressure-in-nigeria-economy-7-2