Sep 2026· IIARD International Journal of Economics and Business Management· pp. 67· 0 citations
Abstract
This study investigated the influence of monetary policy dynamics on output growth using the
Nigerian economy as the geography of interest. Covering the period 1980 to 2023, the study used
monetary policy rate and money supply as proxies for monetary policy and gross domestic product
growth rate as measurement for output growth. This study used relevant econometric and
analytical technique, particularly the Autoregressive Distributed Lag Model (ARDL) which
measures short-run and long-run elasticities simultaneously. Findings arising from the study
indicate that monetary policy rate (MPR) and money supply (MS) positively and significantly
influenced output growth including inflation which served as the moderating variable. This study
makes a significant contribution to the growth and monetary policy nexus especially in a
developing economy like Nigeria. It makes a case for a reduction in fiscal dominance given the
need to strike a balance between the use of monetary and fiscal policy in pursuit of economic
growth.
This study investigates the impact of key monetary policy variables on economic growth in
Nigeria from 1982 to 2023, a period characterized by recurring inflationary pressures,
exchange-rate instability, monetary regime shifts, and persistent macroeconomic imbalances.
Against the backdrop of Nigeria’s long-standing...
A. A. Igwemma, Ebubechukwu Uche Matthew, Peterdamian Ifeanyi Opara· International Journal of Eco...· 0 citations
This study investigated the effect of fiscal and monetary policy issues on economic stabilization
in Nigeria, with economic stabilization proxied by GDP growth rate (GDPGR). Fiscal policy
was represented by the government revenue-to-GDP ratio (GRGDPR) and the capital
expenditure-to-total expenditure ratio (CETER), whil...
Onyemalechi Kate Nwaokocha· IIARD INTERNATIONAL JOURNAL...· 0 citations
This study investigated the complex interrelationships between fiscal policy, monetary policy,
trade policies and economic growth in Nigeria, employing a comprehensive econometric analysis
using the Autoregressive Distributed Lag (ARDL) model. By analyzing quarterly time series data
spanning from 1981 to 2023, the rese...
David Ohiocheoya Ahonkhai· Journal of Accounting and Fi...· 0 citations
This study investigated the effect of the monetary policy transmission mechanism on economic
growth in the West African Monetary Zone (WAMZ), with emphasis on Nigeria and Ghana,
covering the period from 2000 to 2025. The study was motivated by the persistent
macroeconomic challenges confronting the WAMZ despite the...
R. O. Okolie· JOURNAL OF BUSINESS AND AFRI...· 0 citations
This study examines the effect of high interest rates on economic growth in Nigeria, focusing on the Central Bank of Nigeria's (CBN) monetary policy framework. It specifically evaluates the short-run and long-run relationships among the Monetary Policy Rate (MPR), Gross Domestic Product (GDP), inflation rate, exchange...
C. Eteng, Peter Numaliya Felicity, Jonathan Olorunmo· Journal of Contemporary Acco...· 0 citations
This study investigates the impact of monetary policy measures, such as money supply, exchange
rate, and liquidity ratio concurrently, on economic growth in Nigeria from 1987 to 2022. Real
gross domestic product (RGDP) was the dependent variable with monetary policy (MP) and
liquidity ratio (LR) as the independent v...
Mayor Mbadiwe· International Journal of Eco...· 0 citations
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