EFFECT OF MONETARY POLICY INSTRUMENTS ON THE ECONOMIC GROWTH OF NIGERIA FROM 1982 TO 2011

📄 Project Abstract

Since the expositions of the key role of monetary policy in influencing macroeconomic objectives like economic growth, price stability and host of other objectives, monetary authorities are saddled with the responsibility of fashioning appropriate monetary policy instruments that can be effectively used to grow their economies. However, despite the various monetary measures or instruments adopted by the monetary authorities to enhance rapid and sustainable economic growth and given the prominence of monetary policy in macroeconomic management in Nigeria over the years, growth has not accelerated. Instead of growing, the country has witnessed relatively low and unstable economic growth, poor income redistribution and increased poverty level as represented by its per capita income. The perceived ineffectiveness of monetary policy impact can be submitted as ineffectiveness or failure of the instruments deployed - all things being equal. It was against this background, therefore, that this...