EFFECT OF MONETARY POLICY MANAGEMENT ON PERFORMANCE OF NIGERIA’S ECONOMY

Etebong Attah Umana (etebongumana@gmail.com), Nancy Chinwe Agha and Christian Ikechukwu Ezugwu (iykrydz2001@yahoo.com)
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Etebong Attah Umana: Department of Business Management, Faculty of Management Sciences, Postal: Ebonyi State University, Abakaliki., https://journal.citn.org/
Nancy Chinwe Agha: Department of Business Management, Faculty of Management Sciences, Postal: Ebonyi State University, Abakaliki., https://journal.citn.org/
Christian Ikechukwu Ezugwu: Department of Accountancy, Faculty of Management Sciences, Postal: Ebonyi State University,, Abakaliki.,, https://journal.citn.org/

Journal of Taxation and Economic Development, 2021, vol. 20, issue 1, 18-33

Abstract: This study examined the effect of Monetary Policy Management on the Performance of Nigeria Economy. An ex-post facto research design was adopted for the study. Time series data were collected from the CBN Statistical Bulletin using desk survey method from 1985- 2017. The data were analyzed using Ordinary Least Square multiple regression statistical technique. Money supply had a positive and significant relationship with the performance of Nigeria’s economy, issuance of treasury bills had an inverse and insignificant relationship with the performance of Nigeria’s economy, monetary policy rate had an inverse and insignificant relationship with the performance of Nigeria’s economy and finally exchange rate had a positive and significant relationship with the performance of Nigeria’s economy. Based on these findings, the paper therefore, recommends that the CBN monetary policy should be structured in such a way that businesses and indeed the banking sector will be impacted positively by these policies. Finally, government through the CBN, should regulate money supply in a manner that will not hamper the growth of the economy.

Keywords: Monetary policy; Management; Performance; Economy (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jotaed:0048

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