Pass‐Through effect of monetary policy tools on economic growth in Nigeria

Dados Bibliográficos

ID12705348
AutoresAbubakar Sule (0000-0002-0657-5329, Department of Economics Kogi State University Anyigba Nigeria, autor correspondente)
Ano2021
Volume22
Fascículo3
Data de publicação2021-01-05
Peer ReviewedSim
Open AccessSim
TipoARTICLE
PeriódicoJournal of Public Affairs (JOURNAL)
Identificadores do periódicoISSN: 1472-3891 • E-ISSN: 1479-1854
EditoraWiley (PUBLISHER • GB)
DOI10.1002/pa.2588
OpenAlexW3118465967
IdiomaEN
Citações recebidas1
Referências citadas15

This study seeks to examine the pass‐through effect of monetary policy tools on economic growth in Nigeria using quarterly time series data from Q12008 to Q42018. The study employed Augmented Dickey Fuller's unit root test, lag selection criteria, and impulse response function under Toda‐Yamamoto approach to examine the pass‐through effect of monetary policy tools on economic growth. The summary of the results is that, the dynamism in monetary policy tools through money supply remains inconsistent and the changes (either increase/decrease) in these elements could dampen down availability of credit to core private sectors thus hampering growth and development. This study therefore recommends; that monetary authority takes proactive measures to ensure sound and robust commercial banks that can facilitates substantial funds to core private sector to boost productivity of the economy. This can be achieve through close monitoring of banks and ensuring full implementations of indirect monetary policy tools

Cointegration · Credit channel · Dynamism · Econometrics · Economics · Inflation targeting · Macroeconomics · Monetary economics · Monetary policy · Money supply · Unit root test · Fiscal Policy and Economic Growth · Islamic Finance and Banking Studies · Monetary Policy and Economic Impact