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EFFECT OF INTEREST RATE DEREGULATION ON THE NIGERIAN ECONOMY, 1987 -2013.

ABSTRACT

 The theory of interest rate and its management has remained and will always remain topical in finance and economic literature. In Nigeria, it has been observed that there is a misalignment of the various interest rates, which has perennially led to the widening gap between deposit and lending rates. This led to the introduction of the interest rate regime that is narrowed within preset percentages. This study investigates the causal relationship between interest rate deregulation and the growth of the Nigerian economy. The study adopted the ex-post facto research design and the Ordinary Least Square Regression technique for analysis. It also used annual time series data for 26 years period 1987-2013, collated from the Central Bank of Nigeria statistical bulletins and National Bureau of Statistics. Values of interest rate, exchange rate, foreign direct investment, domestic investment, savings, inflation and other variables were used as the independent variables for the five hypotheses, while the dependent variable was the gross domestic product (GDP).The research findings revealed that interest rate deregulation had a positive and significant effect on the Nigerian economy, both investment growth and level showed positive and significant effect on deregulated interest rate, interest rate deregulation showed a positive and significant impact on foreign direct investment, and interest rate deregulation showed a positive and significant relationship with savings. It is therefore recommended that interest rate should be effectively deregulated to allow the nation reap the full benefits of the interest rate deregulation. In addition, the peculiarities of the economy need to be rightly considered in managing interest rate and its correlates.

Project detailsContents
 
Number of Pages142 pages
Chapter one Introduction
Chapter two Literature review
Chapter three  methodology
Chapter  four  Data analysis
Chapter  five Summary,discussion & recommendations
ReferenceReference
QuestionnaireQuestionnaire
AppendixAppendix
Chapter summary1 to 5 chapters
Available documentPDF and MS-word format


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