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Monetary Policy as a Tool of Achieving Price Stability in the Nigeria Economy
Content Structure of Monetary Policy as a Tool of Achieving Price Stability in the Nigeria Economy
- The abstract contains the research problem, the objectives, methodology, results, and recommendations
- Chapter one of this thesis or project materials contains the background to the study, the research problem, the research questions, research objectives, research hypotheses, significance of the study, the scope of the study, organization of the study, and the operational definition of terms.
- Chapter two contains relevant literature on the issue under investigation. The chapter is divided into five parts which are the conceptual review, theoretical review, empirical review, conceptual framework, and gaps in research
- Chapter three contains the research design, study area, population, sample size and sampling technique, validity, reliability, source of data, operationalization of variables, research models, and data analysis method
- Chapter four contains the data analysis and the discussion of the findings
- Chapter five contains the summary of findings, conclusions, recommendations, contributions to knowledge, and recommendations for further studies.
- References: The references are in APA
- Questionnaire.
Abstract of Monetary Policy as a Tool of Achieving Price Stability in the Nigeria Economy
The subject matter of inquiry is “Monetary Policy as a tool of Achieving Price Stability in the Nigerian Economy”. The study therefore examined the influence of money supply Monetary Policy Variable on Consumer Price Index (CPI), the effect of interest rate Monetary Policy Target Variable on domestic private investment and impact of money supply on Gross Domestic Product Proxy for economic growth for the periods 1991 to 2007.
The research design adopted in the study is the Correlation Research Design. Economic application was used for the analysis of relevant relationships and the Ordinary Least Square [OLS] Regression Technique was employed for estimation purposes.
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The estimates of relevant functions were appraised on A-Priori theoretical expectation, Statistical and Econometric grounds.
The study suggests that Monetary Policy has significant influence on the direction of aggregate prices in the economy.
Again Monetary Policy has significant nominal impact on economic growth in Nigeria.
However, the study shows Monetary Policy has not influenced investment through interest rate. Incidentally, the bane of Monetary Policy performance through its interest rate channel is due to the huge presence of the government in the money market for fund borrowing.
The study therefore recommends that federal government through the Central Bank of Nigeria evolve appropriate policy to discourage the government (state and otherwise) participation in the money markets as borrower among others.
TABLE OF CONTENT
Title Page
Certification
Dedication
Acknowledgement
Abstract
Table of Contents
| CHAPTER ONE | |
| INTRODUCTION | |
| 1.1 Background to the study | |
| 1.2 Statement of problems | |
| 1.3 Research Question | |
| 1.4 Objectives of Study | |
| 1.5 Significant of the study | |
| 1.6 Scope of the study | |
| 1.7 Limitations of the study | |
| 1.8 Definition of terms | |
| References |
CHAPTER TWO
Literature Review
2.1 Conceptual Reviews
2.1.1 Monetary Policy
2.1.2 Price Stability
2.2 History of Monetary Policy in Nigeria
2.2.1 Monetary Policy before 1986
2.2.2 Monetary Policy since 1986
2.3 Objectives of Monetary Policy
2.3.1 Economic Growth
2.3.2 Full Employment
2.3.3 Balance of Payment Equilibrium
2.4 Tools of Monetary Policy
2.4.1 Direct Control
2.4.1.1 Quantitative Ceilings and Bank Credit
2.4.1.2 Administered Interest and Exchange Rates
2.4.1.3 Selective Credit Control
2.4.1.2 Indirect Control/ General Quantitative Control
2.4.2.1 Open Market Operations
2.4.2.2 Discount Rate
2.4.2.3 Moral Suasion
2.4.2.4 Reserve Requirement
2.4.2.5 Special Directives
2.4.2.6 Stabilization Securities
2.4.2.7 Special Deposits
2.5 Recent Developments in Monetary Policy
2.5.1 Target of Monetary Policy
2.5.1.1 Money Supply
2.5.1.2 Bank Credits 2
2.5.1.3 Interest rate
2.5.2 Indicators of Monetary Policy
2.5.3 Lingering problem of Monetary Policy
2.5.4 Challenges of Monetary Policy
2.5.5 Expansion and Contraction of Monetary Policy
2.5.6 Contractionary Monetary Policy or Restrictionary Monetary Policy
2.6 Theoretical Review
2.6.1 The Monetarist View
2.6.2 The Keynesian Views
2.7.1 Empirical Views
2.7.2 Researcher
References
CHAPTER THREE
Research Methodology
3.0 Introduction
3.2 Research Design
3.4 Specification of Model
3.5 Estimate Technique
3.6 Evaluation Procedure
3.6.1 A-Priori Theoretical Expectation Critical
3.6.2 Statistical Criteria
CHAPTER FOUR
Presentation and Interpretation of Results
4.0 Introduction
4.1 Presentation of Data
4.2 Presentation of Model
4.3 Presentation of Results
4.4 Interpretation of Results
CHAPTER FIVE
Summary Recommendation and Conclusion
5.0 Introduction
5.1 Summary
5.2 Conclusion
5.3 Recommendation
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