Monetary Policy Transmission, Labour Force Participation and Real Sector Performance in Nigeria

Saliu Mojeed Olanrewaju (Ph.D)
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Saliu Mojeed Olanrewaju (Ph.D): Department of Economics, Faculty of the Social Sciences, Ekiti State University, PMB 5363, Ado-Ekiti, Ekiti State, Nigeria.

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 7, 2970-2978

Abstract: This study investigates the relationship that exist between the two major real sectors (Manufacturing and Agricultural sectors) and some selected explanatory variables (Bank loan to manufacturing and agricultural sector, interest rate, money supply, government expenditure and labour force participation). Using the Johansen cointegration technique, findings from the study confirmed the evidence of long-run co -movement among all the selected variables in the study. Findings from the study further reveal that the expansionary monetary policy stimulates and improves both manufacturing and agricultural sectors outputs. Also, the findings showed that labour force participation enhances the manufacturing sector output, while in the other way round, it retards and decreases the agricultural sector output.

Date: 2024
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