Effectiveness of Economic Policies in Combating Inflation in Nigeria

Simple item page
dc.contributor.authorAyodele, Thomas
dc.date.accessioned2022-05-16T12:38:42Z
dc.date.available2022-05-16T12:38:42Z
dc.date.issued2021-12-25
dc.description.abstractThis study assessed the effectiveness of economic policies (monetary and fiscal policies) in fighting Nigeria's Inflation. Secondary data obtained over thirty-eight years (1981-2018) from the Central Bank of Nigeria (CBN)'s statistical bulletins were used. The econometric test was carried out on the data, which included the ADF-Fisher unit root test and the Johansen co-integration test. A Vector Autoregressive model was used to specify the relationship between the independent variables (Interest rate, Money supply and Liquidity ratio) and the dependent variable (Inflation rate), through the least squares technique. The result revealed that money supply and lending rate have direct and significant influence on inflation (p-values<0.05). However, external debt and government expenditure do not significantly influence inflation. The study concluded that monetary policy is more effective than fiscal policy in combating inflation. Therefore, it was recommended that financial institutions in Nigeria should comply with specified prudential guidelines on monetary policy implementations. Furthermore, the Central Bank of Nigeria should be allowed to carry out her functions without pressure or hinderance from any arm of government.en_US
dc.description.sponsorshipSelfen_US
dc.identifier.other10.14738/aivp.96.11418
dc.identifier.urihttp://dspace.run.edu.ng:8080/jspui/handle/123456789/3009
dc.language.isoenen_US
dc.publisherSociety for science and educationen_US
dc.subjectInflationen_US
dc.subjectMoney Supplyen_US
dc.subjectInterest Rateen_US
dc.subjectExternal Debten_US
dc.titleEffectiveness of Economic Policies in Combating Inflation in Nigeriaen_US
dc.typeArticleen_US
Files
Original bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
20 Ayodele, Akinyede, Afolabi, Ojedele, & Adeyanju.pdf
Size:
257.17 KB
Format:
Adobe Portable Document Format
Description:
Download
License bundle
Now showing 1 - 1 of 1
Thumbnail Image
Name:
license.txt
Size:
1.71 KB
Format:
Item-specific license agreed upon to submission
Description:
Download
Collections
Department of Finance