An Empirical Analysis Of The Impact Of Monetary Policy On Economic Growth Of Nigeria (1990 - 2011):- Orji ifeanyi C

ABSTRACT

The study empirically examines the impact of monetary policy on economic growth in Nigeria. In line with the objective of this study, secondary data were obtained from central bank of Nigeria statistical bulletin covering the period of 1990 to 2011. The variables examined in the, study are money supply, liquidity ratio, cash reserve ratio, and Inflation as independent variables and Gross Domestic Product as the dependent variable. The study employed multiple regression analysis in its estimation of the variables. The result showed that money supply, liquidity ratio and cash reserve ratio has no significant effect on Gross Domestic Product, while inflation hW significant effect on the Gross Domestic Product of Nigeria. It is therefore recommended that appropriate policy measures should be taken to control inflation in Nigeria.