Effect of Monetary Policy in Nigeria
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION 1.1 Background of the study 1.2 Statement of the problem 1.3 Objectives of the study 1.4 Research Question 1.5 Research Hypothesis 1.6 Significance of the study 1.7 Scope of the study 1.8 Organization of the study 1.9 Definition of terms.
CHAPTER TWO: LITERATURE REVIEW 2.1 Theoretical framework 2.2 Concept of monetary policy 2.3 Instrument of monetary policy 2.4 Monetary policy and inflation control 2.5 Problems associated with inflation control
CHAPTER THREE: RESEARCH METHODOLOGY 3.1 Research Design 3.2 Sources of data collection 3.3 Method of Data collection 3.4 Technique of Data Analysis 3.5 Model specification
CHAPTER FOUR: DATA PRESENTATION, DESIGN, ANALYSIS AND DISCUSSION OF FINDINGS 4.1 Data presentation 4.2 Analysis of data 4.3 Test of hypothesis 4.4 Discussion of findings
CHAPTER FIVE: SUMMARY OF FINDING, CONCLUSION AND RECOMMENDATIONS. 5.1 Summary of findings 5.2 Conclusion 5.3 Recommendation
References
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY Monetary policy in Nigeria over the past three decades has intended to attain price and exchange rate stability. Despite the apparent continuity in this objective, Nigeria’s inflation experience since 1970 has been mix. The oil boom of the 1970s according to Olubusoye and Oyaromde (2008) engendered by the Middle East crisis raised the revenue accruing to government from this non-renewable resource by or remarkable level. Government expenditures gathered momentum in the wake of the determination of the authorities to accelerate post-war reconstruction and development as envisaged in second National Development Plan. This time, however, the engine of finance became the massive oil revenues which have been singularly significant since 1973. The rapid growth in domestic money supply exacerbated by the
CHAPTER ONE: INTRODUCTION 1.1 Background of the study 1.2 Statement of the problem 1.3 Objectives of the study 1.4 Research Question 1.5 Research Hypothesis 1.6 Significance of the study 1.7 Scope of the study 1.8 Organization of the study 1.9 Definition of terms.
CHAPTER TWO: LITERATURE REVIEW 2.1 Theoretical framework 2.2 Concept of monetary policy 2.3 Instrument of monetary policy 2.4 Monetary policy and inflation control 2.5 Problems associated with inflation control
CHAPTER THREE: RESEARCH METHODOLOGY 3.1 Research Design 3.2 Sources of data collection 3.3 Method of Data collection 3.4 Technique of Data Analysis 3.5 Model specification
CHAPTER FOUR: DATA PRESENTATION, DESIGN, ANALYSIS AND DISCUSSION OF FINDINGS 4.1 Data presentation 4.2 Analysis of data 4.3 Test of hypothesis 4.4 Discussion of findings
CHAPTER FIVE: SUMMARY OF FINDING, CONCLUSION AND RECOMMENDATIONS. 5.1 Summary of findings 5.2 Conclusion 5.3 Recommendation
References
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY Monetary policy in Nigeria over the past three decades has intended to attain price and exchange rate stability. Despite the apparent continuity in this objective, Nigeria’s inflation experience since 1970 has been mix. The oil boom of the 1970s according to Olubusoye and Oyaromde (2008) engendered by the Middle East crisis raised the revenue accruing to government from this non-renewable resource by or remarkable level. Government expenditures gathered momentum in the wake of the determination of the authorities to accelerate post-war reconstruction and development as envisaged in second National Development Plan. This time, however, the engine of finance became the massive oil revenues which have been singularly significant since 1973. The rapid growth in domestic money supply exacerbated by the
References: INTEREST RATE: Uchendu, (1993) sees it as the rice for money, paid by those who purchase money. These interest rates vary with the term of loan with credit worthiness of the borrower. BANK CREDIT: Salu, R.A. (1983) defined it as facilities offered by the banking system to borrowers (both in private and public sectors). MONEY: Is a temporary abode of purchasing power which separates the act of sale from that of purchase. (Chicago school led by Friedman) money is a medium of exchange and the standard unit in prices and debts are expressed. Samuelson and Wood, (1980). DEMAND: Meluin and Boyes (2010) define demand as a relationship between two variables, price and quantity demanded, with all other factors that could affect demand being held constant. SUPPLY: Mankin, (1998) sees supply as the amount of some product producers are willing and able to sell at a given price, all other factors being held constant. Under monetarism, money supply is the target of monetary policy. (Nzotta 1999).