SULAIMAN, Helen and ABUBAKAR, Ibrahim (2019) MONETARY POLICY RATE AND ECONOMIC GROWTH IN NIGERIA. In: SCHOOL OF MANAGEMENT STUDIES 10TH NATIONAL CONFERENCE, 2019, THE FEDERAL POLYTECHNIC, ILARO, OGUN STATE.
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Abstract
This research investigated the effect of monetary policy rate on economic growth in Nigeria within the period of 1988-2019. To attain the objective of the study, multiple linear regression model comprising of independent variable (monetary policy rate, treasury bill rate, interest rate and inflation rate) and dependent variable (gross domestic product) was specified for study. An ordinary least square (OLS) Method of estimation was employed to carry out an empirical investigation using the specified model. The data was collected from Central Bank of Nigeria (CBN) Statistical bulletin of 2019. The finding shows that monetary policy rate and treasury bill rate have significant effect on economic growth in Nigeria under the study period. However, this study revealed that interest rate and inflation rate has a negative and insignificant effect on economic growth under the study period. It was recommended that the government should deepen the level of finance in the economy; this would encourage investment through provision of adequate credit facilities required for optimal performance of the real sector of the economy.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | H Social Sciences > HG Finance |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Humanities |
| Depositing User: | Unnamed user with email [email protected] |
| Date Deposited: | 24 Jun 2022 16:41 |
| Last Modified: | 24 Jun 2022 16:41 |
| URI: | http://eprints.federalpolyilaro.edu.ng/id/eprint/2002 |
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