Interest Rate And Economic Growth In Nigeria Pdf

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Shambaugh, Jay C. Adeyemi, Full references including those not matched with items on IDEAS Most related items These are the items that most often cite the same works as this one and are cited by the same works as this one. Lane, Philip R.

Interest Rate Management and the Nigerian Economy (1986 — 2018)

Copyrights for articles published in AJHSS are retained by the authors, with first publication rights granted to the journal. It is the author's responsibility to bring an infringement action if so desired by the author. Fundamentally, the period of the study was fractured into two prominent distinctions of economic era - the regulation era and the deregulation era. The result indicated that Exchange rate had a stronger impact on Economic growth than Interest rate. Particularly, Interest rate impact was found to be positive but however declined as the time horizon increased.

It had a little impact on Economic growth in the period of regulation than in the deregulation era. The conclusion arising from the study shows that Exchange rate liberalization was good to Nigerian Economy as it promotes Economic growth. Interest rate liberalization on the other hand does not make an appreciable impact on the Economic growth as it undermines investment drive. The paper therefore recommends that Interest rate liberalization and deregulation should be replaced with the policy of Interest rate regulation as obtained in the s and early s.

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Impact of Interest Rate on Economic Growth in Nigeria

The study adopted ordinary least square OLS method of analysis. The long run relationship between the variables was analyzed using the Johansen integration test. However, the Augmented Dickey Fuller test performed showed that only inflation is not stationary at first difference. The direction of causality and trend analysis was also performed on variables. It found out that Inflation and Interest rate has a negative effect on Economic growth but neither Inflation nor Interest rate granger causes economic growth. The work concludes with the recommendation that policy makers should focus on maintaining inflation at a low rate single digit and ensuring interest rate stability. Home Journals Conferences Books About us.

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This study establishes whether there is a threshold above which the effect of the interest rate on economic and investment growth changes. This, intension of setting the economy on the path of growth. They influence the cost of borrowing, the return on savings, and are an important … An interest rate is the cost of borrowing money. It is often argued that many economies are affected by conditions in foreign countries.

Unit root test Augmented Dickey-Fuller test has been exploited to check the integration order of the variables. Alternatives for College Funding March 1, To investigate the impact of interest rate and gross domestic product GDP.

Copyrights for articles published in AJHSS are retained by the authors, with first publication rights granted to the journal. It is the author's responsibility to bring an infringement action if so desired by the author. Fundamentally, the period of the study was fractured into two prominent distinctions of economic era - the regulation era and the deregulation era. The result indicated that Exchange rate had a stronger impact on Economic growth than Interest rate. Particularly, Interest rate impact was found to be positive but however declined as the time horizon increased.

It also investigated the joint influence of Inflation, Investment, Exchange Rate, Money Supply and Monetary Policy Rate individually on the Gross domestic Product which was used a proxy for output as well as the causality between all the factors combined and gross domestic product. The result showed that no significant relationship exists between Gross Domestic Product and Investment, Exchange Rate and Money Supply while still affirming that a significant relationship exist between Gross Domestic Product, Monetary Policy Rate and inflation. Quick jump to page content. Published Jul 31, Interest rate management, exchange rate, monetary policy rate, inflation, gross domestic product, investments, money supply.

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