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The Impact of Money Market Dynamics on the Economic Growth of Nigeria

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  • Oluwaseun Okikiola

    (Principal Consultant, Axion Research, P.O. Box 2046, Lagos, Nigeria)

Abstract

The notion that monetary policy is a panacea for economic growth remains empirically subjected to open research. This study tries to close up the knowledge gap by examining the impact of monetary policy on economic growth in Nigeria for the period 2010 to 2019. This study examined the impact of the monetary policy, influence of dynamics in the money market as well as the influence of deposit and lending activities of the money market on the growth of the Nigerian economy. Preliminary analysis shows evidence of long run equilibrium relationship which implies that the variables exhibit a common deterministic trend. By the regression estimates, Monetary Policy (MPR) has a significant and positive impact on Economic Growth (b= 0.021, t= 3.86, p

Suggested Citation

  • Oluwaseun Okikiola, 2021. "The Impact of Money Market Dynamics on the Economic Growth of Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 5(10), pages 77-85, October.
    • Handle: RePEc:bcp:journl:v:5:y:2021:i:10:p:77-85
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    References listed on IDEAS

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