Central Bank Autonomy without Monetary Policy

Abstract

central bank autonomy, accountability, regulatory governance, G18, G15, G28,

The Effect of Fiscal Policy on the Macroeconomic Condition of Nigeria: A Case Study of Economic Growth, Employment, and Inflation from 1991 to 2020

“…While these policies are both instruments used in conditioning the macroeconomic environment and steering the economy of a nation towards growth, monetary policy entails influencing and steering the economy towards growth via changes in the base rate of interest while fiscal policy entails influencing the steering the economy towards growth via the use of spending and taxation of the government (Adelina-Geanina, 2006;Horton & El-Ganainy, 2009;Abdullahi & Adeiza, 2019). Given both theoretical and empirical findings that reflect that positive relationship between the autonomy and fulfilment of the objectives of the central bank, which is typically the custodian of the monetary policy, the fiscal policy is the most potent instrument of the government in influencing the economic environment and steering the economy in the direction that it desires (Papi, 2005).…”