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Monetary Policy and Economic Growth: Empirical Evidence of Nigeria

Author

Listed:
  • Akpovofene Erhinyodavwe J.

    (Department of Accountancy, Niger Delta University, Amasoma, Bayelsa State, Nigeria)

  • Kpolode, Oghenevwo P.

    (Department of Accountancy, Niger Delta University, Amasoma, Bayelsa State, Nigeria)

Abstract

The study employed secondary data covering from 2000 to 2022 to analyzed monetary policy and economic growth in Nigeria, our data were collected from Central bank of Nigeria statistical bulletin, while also considering variables such as money supply, inflation rate, interest rate and gross domestic product with the used of ordinary least square regression method, we discovered that all our variables a statistically significant except for interest rate, also there was positive relation among our variables. Therefore we recommended that, monetary regulators should always consider key macro-economic variables such as the ones used in this study before implementing critical policy; the citizen and the economy should also be consider when adopting monetary policy; policies makers should always strive to make policy that will make the economy be at economic advantage in order to strengthen our economic growth.

Suggested Citation

  • Akpovofene Erhinyodavwe J. & Kpolode, Oghenevwo P., 2023. "Monetary Policy and Economic Growth: Empirical Evidence of Nigeria," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 10(7), pages 111-116, July.
    • Handle: RePEc:bjc:journl:v:10:y:2023:i:7:p:111-116
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    References listed on IDEAS

    as
    1. Olufemi Samuel Adegboyo & Sunday Anderu Keji & Oluwadamilola Tosin Fasina, 2021. "The impact of government policies on Nigeria economic growth (case of fiscal, monetary and trade policies)," Future Business Journal, Springer, vol. 7(1), pages 1-14, December.
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