The link between aggregate money supply, inflation and economic growth has raised a lot of scholarly debate in the field of economics and finance. The study sets to investigate the impact of money supply on macroeconomic variables in Nigeria from 1985 to 2016. The specific objectives of the paper were to ascertain the impact of narrow money supply, broad money supply, inflation rate, and exchange rate on real gross domestic product on one hand, and narrow money supply, broad money supply and exchange rate on consumer price index in Nigeria. The ex post facto research design and descriptive statistics were used to observe the variables in retrospect. To achieve the objectives of the study, two models were built to mimic the tread. To avoid spurious results, the Augmented Dickey Fuller test was used to solidify the data, which integrated at first difference I(1). The ordinary least square technique was employed to determine the magnitude and direction of the variables in the models. It emerged that narrow money supply has a positive and significant impact on inflation and real gross domestic product; conversely, broad money supply does not have any significant impact on inflation and real gross domestic product Empirical evidence further showed that exchange rate has an insignificant impact on inflation and real gross domestic product. Inflation rate on the other hand, has an inverse and statistically insignificant impact on real gross domestic product in Nigeria. Ceteris Paribus, the results suggest that economic growth and inflation is a function of money supply (narrow money supply) and exchange rate in Nigeria. The paper recommends that efforts should be put in place to better the exchange rate between the naira and other currencies. This will help avoid the imported inflationary pressure on goods and services in the country.
The paper examined the impact of the capital expenditure components on output growth in Nigeria. The objective of the study was to determine the impact of Administration, Economic Services, Social Community Services, and Transfer payments on Real Gross Domestic Product in Nigeria. To achieve this, the model was built following the multiple regression example. Furthermore, the ordinary least square technique was employed for the estimation. The results reported that every increase in administrative expenditure and transfer payments lead to increase in national output in Nigeria, while for economic services and social community services; the impact is nonlinear and insignificant. Consequently, the paper suggests efficient resource allocation and implementation of budgetary provisions coupled with real time monitoring and checks on social works by engaging the citizenry through various social media platforms.
The research investigated the lending rate and repayment capability of microfinance banks' (MFBs) borrowers in Kaduna State, Nigeria with case study of some selected MFBs having a population of fifty three from where twenty MFBs were selected for this research. The study is purposive (or judgemental) research design. The cox regression was used for the analysis of data obtained from primary source through the use of questionnaire. It was found out that there is positive significant relationship between lending rate and repayment capability of borrowers with hazard ratio of 1.0000 and 1.00019 at 0.01%. It was suggested that there should be consideration for re---negotiation of loan term and condition to improve repayment capability of the borrowers to avoid outright loss of loan and interest.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
customersupport@researchsolutions.com
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.