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Relevant bibliographies by topics / Nigerian monetary policy

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Academic literature on the topic 'Nigerian monetary policy'

Author: Grafiati

Published: 4 June 2021

Last updated: 2 February 2022

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Journal articles on the topic "Nigerian monetary policy"

1

Idowu, Onanuga, Ilo Bamidele, and Lucas Elumah. "Monetary and Fiscal Policies Interactions on Stock Returns in Nigeria." Binus Business Review 11, no. 1 (March 31, 2020): 17–24. http://dx.doi.org/10.21512/bbr.v11i1.6082.

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This research examined the effects of monetary and fiscal policies on stock returns in Nigeria. The researchers utilized ex-post facto research design using the time series data of the annual market values of All Share Index (ASI) of the Nigerian Stock Exchange (NSE). It was yearly data on the various monetary policy and fiscal policy variables obtained from the Central Bank of Nigeria Statistical Bulletins covering from 1985 to 2017. The result of the cointegration test reveals a long-run relationship between monetary variables and stock returns. Meanwhile, the overall result shows that monetary policy has a significant effect on stock return. However, there is no long-run relationship between fiscal policy variables and stock returns. Meanwhile, the result of the Unrestricted Vector Autoregression model shows that fiscal policy has a significant effect on stock prices in Nigeria. On the other hand, a long-run relationship exists between monetary policy, fiscal policy, and stock returns. It has a significant effect on stock returns in Nigeria. This implies that monetary and fiscal policies have a significant effect on stock returns in Nigeria. It is recommended that there is a need for the federal government to harmonize fiscal and monetary policies in the same direction and to equally design policies that promote a free market for the growth of the Nigerian economy.

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Tule, Moses K., Taiwo Ajilore, and Augustine Ujunwa. "Monetary Policy Contagion in the West African Monetary Zone." Foreign Trade Review 54, no. 4 (November 2019): 375–98. http://dx.doi.org/10.1177/0015732519874219.

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The study utilized quarterly time series data for Nigeria and three selected West African Monetary Zone (WAMZ) countries for the period 1980–2016 to verify whether monetary policy shocks emanating from Nigeria are an important source of macroeconomic fluctuations in WAMZ economies. The study complemented the Global vector autoregressive method with the Diebold–Yilmaz (2009) connectedness weights computation for the analysis. Inferences from generalized impulse response function (GIRF) analysis indicated that an unanticipated Nigerian monetary policy shock depreciates the Nigeria–USA exchange rate, stimulates growth, decelerates inflation and expands the money stock in the short run for Nigeria. In Ghana, Nigeria’s monetary policy shocks similarly depreciates the exchange rate, slows growth with high inflationary impact in the short run. In the Gambia, unanticipated shocks emanating from Nigeria strengthens the Gambia–USA exchange rate, depresses growth and inflationary pressures. Sierra Leone shares the appreciation of its currency with the Gambia, in addition to an economic expansion and rising inflation. Money supply also increases to accommodate the expanding demand. These results validated the thesis that there exist considerable geographical linkages within the WAMZ regions through which macroeconomic fluctuations are transmitted. For policy, monetary authorities in the region should collectively address the question of how to stabilize the economy in response to monetary policy shocks emanating from Nigeria. JEL Codes: E52, E32, E65, F02

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Omankhanlen, Alex Ehimare. "The Effect of Monetary Policy on the Nigerian Deposit Money Bank System." International Journal of Sustainable Economies Management 3, no. 1 (January 2014): 39–52. http://dx.doi.org/10.4018/ijsem.2014010104.

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This study investigates the effect of monetary policy on the Nigerian Deposit Money Bank (DMB) System. The Nigerian banking system is currently under-going a series of reforms in order to enhance its competitiveness and efficiency. The Ordinary Least Square (OLS) method is used to examine the effect of monetary policy on the Nigerian Deposit Money Bank System, using such variables as total loans and advances (TLA) as dependent variable and liquidity ratio (LR),cash reserve ratio (CRR), monetary policy rate (MPR), and average exchange rate (AER) as independent variables. The result of the findings shows that monetary policy rate reveal the most significant effect on commercial banks loans and advances during the period under study. The study thus recommends, among others, that the regulatory authority Central Bank of Nigeria should create credit procedures, policies and analytical capabilities which should be entrenched in the credit management of DMB's operations.

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E.A., Uju, and Ugochukwu P.O. "Effect of Monetary Policy on Industrial Growth in Nigeria." International Journal of Entrepreneurship and Business Innovation 4, no. 1 (June 7, 2021): 47–60. http://dx.doi.org/10.52589/ijebi-1z4iybye.

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Monetary policy is one of the regulatory measures of the government to checkmate the money supply in the economy in order to achieve the desired level of prices, employment, output, and boost the industrial sector growth. Industrialization has always constituted a major focus of development strategy and government policy. One of the engines of industrialization is enhancing manufacturing sector capacity; this study adopted manufacturing sector output to examine the effect of monetary policy on industrial growth in Nigeria between 1986 and 2019. Data for the study were collected from the CBN Statistical bulletin, 2019 edition. A multiple regression model was developed and the Ordinary Least Square (OLS) regression technique employed for data analysis. The results showed that Open Market Operation (OMO) measured by Treasury bill rate had positive and significant effect on the Nigerian Manufacturing Domestic Sector Gross Product; Cash Reserve Ratio (CRR) has a positive and significant effect on the Nigerian Manufacturing Sector Gross Domestic Product; and Monetary Policy Rate (MPR) has a negative and significant effect on the Nigerian Manufacturing Sector Gross Domestic Product. The study concludes that monetary policy is a veritable tool for enhancing industrial sector growth in Nigeria. It was recommended that the monetary authority should ensure a lower MPR that can drive up investment and thus boost growth of the industry.

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Omolade, Adeleke, Philip Nwosa, and Harold Ngalawa. "Monetary Transmission Channel, Oil Price Shock and the Manufacturing Sector in Nigeria." Folia Oeconomica Stetinensia 19, no. 1 (June 1, 2019): 89–113. http://dx.doi.org/10.2478/foli-2019-0007.

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Abstract Research background: The need for diversification of the Nigerian economy has been emphasized and the manufacturing sector has a major role in this. Being an oil producing country, monetary policy is an important macroeconomic policy that has always been used to manage the influence of oil price shock on the manufacturing sector. Purpose: The study examines the relationship between oil price shock, the monetary transmission mechanism and manufacturing output growth in Nigeria. Research methodology: The study applied the structural vector auto regression (SVAR) modelling technique and a descriptive analysis. Results: The results of the study show that the exchange rate is mostly affected by the oil price shock, while the monetary policy instruments and inflation rate are also very responsive to the exchange rate shock. The manufacturing sector output growth has also been shown to be strongly affected by the inflation rate and monetary policy shocks. Novelty: The study has revealed the most effective channel via which oil price shocks affect manufacturing output. The exchange rate channel of the monetary policy transmission mechanism is the most significant channel through which oil price shock affects manufacturing output growth in Nigeria. This shows that effective management of the exchange rate policy via the appropriate monetary policy approach can be used to minimize the adverse effect of oil price shocks on Nigerian manufacturing output.

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UFOEZE, Lawrence Olisaemeka, J. C. ODIMGBE, V. N. EZEABALISI, and Udoka Bernard ALAJEKWU. "EFFECT OF MONETARY POLICY ON ECONOMIC GROWTH IN NIGERIA: AN EMPIRICAL INVESTIGATION." Annals of Spiru Haret University. Economic Series 18, no. 1 (March 30, 2018): 123–40. http://dx.doi.org/10.26458/1815.

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The study investigated effect of monetary policy on economic growth in Nigeria. The natural log of the GDP was used as the dependent variables against the explanatory monetary policy variables: monetary policy rate, money supply, exchange rate, lending rate and investment. The time series data is the market controlled period covering 1986 to 2016. The study adopted an Ordinary Least Squared technique and also conducted the unit root and co-integration tests. The study showed that long run relationship exists among the variables. Also, the core finding of this study showed that monetary policy rate, interest rate, and investment have insignificant positive effect on economic growth in Nigeria. Money supply however has significant positive effect on growth in Nigeria. Exchange rate has significant negative effect on GDP in Nigeria. Money supply and investment granger cause economic growth, while economic growth causes interest rate in Nigeria. On the overall, monetary policy explain 98% of the changes in economic growth in Nigeria. Thus, the study concluded that monetary policy can be effectively used to control Nigerian economy and thus a veritable tool for price stability and improve output.

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Chukwudi, Oparah Felix, and James Tumba Henry. "Monetary Policy and Financial Stability in the Nigerian Banking Industry." International Journal of Financial Research 11, no. 1 (October 10, 2019): 82. http://dx.doi.org/10.5430/ijfr.v11n1p82.

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This study examined the impact of monetary policy on financial stability in the Nigerian banking industry for the period 2008Q1 to 2016Q2, using an error correction model. Banking industry financial stability index (BIFSI) was computed within the study and was used as a measure of financial stability in the Nigerian banking industry. The study discovered that the impact of monetary policy on financial stability in the Nigerian banking industry was weak. It also revealed a significant long run equilibrium relationship between monetary policy and financial stability in the Nigerian banking industry with a speed of adjustment to long run equilibrium of 66.54%. It was concluded that open market operation and exchange rate channels are more effective channels of transmitting monetary policy to financial stability in the banking industry, than interest rate channel.

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Olusola, Ayinde Taofeek. "Policy lags and exchange rate dynamics in Nigeria: Any evidence?" Jurnal Ekonomi Pembangunan 18, no. 1 (July 12, 2020): 1–12. http://dx.doi.org/10.29259/jep.v18i1.9688.

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The study investigates policy lags and exchange rate dynamics in Nigeria. The downswing in the Nigerian economy attributed to recurring exchange rate fluctuations justifies this empirical investigation. The period of investigation spans 1970 – 2016 and the data were obtained from the various issues of the Central Bank of Nigeria (CBN) Statistical Bulletin and the Annual Statistics of the National Bureau of Statistics (NBS). Anchored on the monetary theory of exchange rate, the Markov-Switching Dynamic Regression (MSDR) was employed as the technique of analysis. The findings show that the supply of broad money in Nigeria is endogenous in nature as it serves as the adjustment variable for the stabilization of exchange rate in the economy. Also, the results obtained indicated that changes in the exchange rate affect the overall government income and that the Nigerian economy is still foreign dependent. An expansionary monetary policy takes three (3) years to stabilize exchange rate in Nigeria while an expansionary fiscal policy only takes one and a half (11/2) years. By implication, monetary policy is half-effective as the fiscal policy. Besides, there is evidence of fiscal dominance in Nigeria. The study found two exchange regimes of fixed- and managed-float. More so, fixed exchange rate regime in Nigeria was just not persistent but that the probability of transiting to a managed-float regime was relatively lower.

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Ademokoya, Alade Ayodeji, Mubaraq Sanni, Lukman Adebayo Oke, and Segun Abogun. "Impact of Monetary Policy on Bank Credit in Nigeria." Journal of Accounting Research, Organization and Economics 3, no. 3 (December 28, 2020): 196–205. http://dx.doi.org/10.24815/jaroe.v3i3.17879.

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Objective – The aim of this study is to examine the impact of monetary policy on credit creation ability of banks in Nigeria. Specifically, it investigates the impact of monetary policy rate, money supply, liquidity ratio, and change in maximum lending rate on bank credit in Nigeria. Design/methodology – A monthly time series data from 2007-2019 were sourced from the Central Bank’s of Nigeria statistical bulletin. The sourced data was subjected to multiple regression analysis using the fully modified ordinary least square regression to estimate the parameters of the model. Results – Findings reveal that money supply significantly and positively influence bank credit in Nigeria; while liquidity ratio significantly but negatively influence bank credit in Nigeria. On the contrary, monetary policy rate and maximum lending rate were found not to significantly affect bank credit in the case of Nigeria.Policy Recommendation - Study therefore, recommend that monetary authorities especially, the Central Bank of Nigeria should pay more attention to lowering the liquidity ratio while increasing money supply in order to engender banks credit creation ability and further stimulate the Nigerian economy for growth.

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Babangida, Jamilu S., and Asad-Ul I. Khan. "Effect of Monetary Policy on the Nigerian Stock Market: A Smooth Transition Autoregressive Approach." Central Bank of Nigeria Journal of Applied Statistics 12, No. 1 (August 16, 2021): 1–21. http://dx.doi.org/10.33429/cjas.12121.1/6.

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This paper examines the nonlinear effect of monetary policy decisions on the performance of the Nigerian Stock Exchange market, by employing the Smooth Transition Autoregressive (STAR) model on monthly data from 2013 M4 to 2019 M12 for All Share Index and monetary policy instrument. This study considers the two regimes characterizing the stock market, which are the lower regime (the bear market) and the upper regime (the bull market). The results show evidence of nonlinear effect of monetary policy on the stock exchange market. Monetary policy rate, money supply, lagged monetary policy rate and lagged treasury bill rate are found to have significant positive effects on the stock exchange market in the lower regime while current treasury bill rate shows a negative effect. In the upper regime, money supply and lagged treasury bill rate have significant negative effect on the stock market. The current treasury bill rate is found to have a positive effect on the stock exchange market. It is recommended that the Central Bank of Nigeria should maintain a stable money supply growth that is consistent with increased activities in the Nigerian stock market.

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Dissertations / Theses on the topic "Nigerian monetary policy"

1

Obute, Christopher Obilikwu. "Macroeconomic policy in Nigeria since 1960." Thesis, University of Edinburgh, 1985. http://hdl.handle.net/1842/19202.

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2

Ononugbo, Michael Chinedu. "Monetary policy in developing countries : the case of Nigeria." Thesis, University of Leeds, 2012. http://etheses.whiterose.ac.uk/3663/.

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In recent times, monetary policy has increasingly adopted the interest rate as an instrument and inflation as the ultimate objective. This is congruous with the propositions of the New consensus macroeconomics (NCM) and synonymous with the somewhat widespread practice of inflation targeting. However, the optimality of a monetary policy approach depends critically on its effectiveness and costs; which would differ between developing and developed countries. This thesis investigates the effectiveness and costs of an NCM-type monetary policy in Nigeria. Essentially, it is a systematic study of the implications of monetary policy in Nigeria, while paying attention to the peculiarities of the Nigerian economy and using a rigorous up-to-date framework. Effectiveness is investigated by considering some underlying assumptions of the NCM. First, the assumption of a complete pass-through from the policy interest rate to the market rates (which is critical for the success of monetary policy) is investigated. Here an array of market, retail deposit and lending rates are examined while an attempt is also made to capture the role of financial market (under)development. Second, the effect of monetary policy on aggregate demand is investigated, since it constitutes the intermediate target of policy. Given the high incidence of poverty in Nigeria and our associated assumption that consumption would, in this case, be inelastic to policy changes, the aggregate demand effect is limited to investigating the responsiveness of investment to monetary policy induced changes in the interest rate. Finally, the cost and benefit analysis of monetary policy in Nigeria is investigated by estimating a NCM-type Phillips curve. To understand the dynamics and source of inflation the standard NCM-type Phillips curve is augmented with supply factors. The relative importance of demand vis-à-vis supply factors as well as the cost and benefits of disinflation are thereafter determined. These are analysed using both theoretical and empirical approaches. Results indicated that an NCM-type monetary policy is generally ineffective in anchoring interest rates or aggregate demand and may be conducted at a considerably high cost in terms of output loss and financial instability. These findings and their policy implications are not entirely surprising given the institutional features of the Nigerian economy. They generally suggest that the use of interest rate policies tended to create more problems than it can solve. Hence, to avert the associated problems, there is a need for other instruments which the central bank can control effectively. Moreover, monetary policy focus should be on long-run output expansion and short-run price-stability, rather than the converse. This would have the benefit of moderating poverty and unemployment.

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3

Umar, Goni. "Monetary integration in ECOWAS and loss of independent monetary policy : a case study of Nigeria." Thesis, University of Kent, 1992. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.293983.

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The Economic community of West African States (ECOWAS) is an economic organisation among 16 countries of Africa south of the Sahara. One of the main objectives of ECOWAS is to join the member countries in a complete monetary union with a single currency and a single central banle A major disadvantage to a country of being a member of this form of monetary cooperation is the loss of independence in carrying out monetary policy. This study is an examination of the degree to which Nigeria is likely to lose independent monetary policy by participating in the ECOW AS monetary union. Since the monetary union is still at the proposal stage, the issue is addressed by examining the following question: Can Nigeria conduct an effective independent monetary policy by changing the quantity of the money stock in the economy? According to the money multiplier theory of the money stock determination, successfully changing the money stock requires the following: Firstly the money multiplier should be stable and predictable, and secondly, the monetary base should be exogenously controllable. Although the money multiplier and its determinants in Nigeria are found to be stable and predictable, both closed and opened economy analyses seem to suggest that the monetary base is endogenous. Specifically, it is found to be determined by the demand for money. This implies that the monetary base and therefore, the money stock can only be changed by changing the money demand. In this case the successful conduct of monetary policy will require a stable money demand function which is significantly linked to a control variable. Various specifications showed that the Nigerian money demand function is stable. However, the only control variable - the interest rate is not significant, suggesting that it cannot be used to affect the money demand in a significant way. These findings suggest that the Nigerian Monetary Authorities have a very limited independent monetary policy, and therefore there may be little to lose by participating in the ECOW AS monetary union.

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4

Isedu, Mustafa. "Effects of monetary policy on macro economic performance : the case of Nigeria." Thesis, University of Greenwich, 2013. http://gala.gre.ac.uk/13591/.

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The objective of this study is to empirically examine the effects of monetary policy on macroeconomic performance in Nigeria. The study uses Quarterly data between 1970 Q1 to 2011Q4, being a sample period of forty one years. The study further, introduces structural break to investigate the presence of a possible structural change which takes into account the effects of the Structural Adjustment Programme introduced by the Nigerian government in the 1987. The data was split into two sub-periods from 1970Q1–1986Q4, era before the Structural adjustment programme, and from 1987Q1 – 2011Q4, period after the Structural Adjustment Programme in Nigeria. In this study, three approaches were utilised in the methodology. First, estimation and analysis was based on coefficients of the variables using long-run and co-integrating Vector Error Correction Model (VECM). The results confirm my a priori expectation, although many of the variables were not statistically significant. The study also estimates the period 1970Q1–2011Q4, without a structural break for the GDP model having been confirmed in a structural break test. Therefore, we accept the null hypothesis which means that there was no structural break in real domestic growth during the structural adjustment programme, introduced in 1987. However, the structural break tests for consumers’ price index (CPI) and balance of payments (BOP) show that the parameters of the analysed equations were not stable given that recursive errors cut across the critical lines for both tests. As a result of the foregoing, we reject the null hypothesis meaning that there was a structural break for the CPI and (BOP) models. This means that the structural adjustment programme introduced in 1987 brought about a change in CPI and BOP in the Nigerian economy. In the second approach of the methodology, a macroeconomic model was simulated to demonstrate the effects of monetary policy on macroeconomic performance. Thus, the results obtained from the simulation are impressive and generally satisfactory; the results suggest the effectiveness of monetary policy implementation for counter cyclical income stabilization, BOP stabilization and CPI stabilization in Nigeria. In the third approach of my methodology, three structural vector autoregressive (SVAR) econometric models were formulated to trace the effects of monetary policy shocks on domestic output, consumers’ price index and balance of payments position in Nigeria. Structural effects of monetary shocks or innovations were captured by the impulse response functions and the forecast error variance decomposition. The empirical impulse-response assessment indicates that an exogenous shock to the short-term interest rate has the most significant positive effect on real domestic output and consumers’ price followed by a transitory effect of the broad money. The response of the country’s external payments’ position to a structural shock as measured by a one-standard deviation innovation in all the policy variables is almost zero. The policy implication is straightforward- monetary policy in Nigeria is effective in maintaining internal balance and ineffective in achieving external balance. Overall, the results suggest that monetary policy affects macroeconomic performance in Nigeria.

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Tita, Anthanasius Fomum. "Interest rate pass-through in Cameroon and Nigeria: a comparative analysis." Thesis, Rhodes University, 2012. http://hdl.handle.net/10962/d1002740.

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One of the most important aspects of monetary policy is an understanding of the transmission process: the mechanism through which the monetary policy actions of the Central Bank impact on aggregate demand and prices by influencing the investment and consumption decisions of households and firms. Thus, commercial banks are regarded as conveyers of monetary policy shocks and are expected to adjust retail interest rates in response to policy shocks one-to-one. In practice, commercial banks adjust their retail rates in response to changes in monetary policy with a lag of several months and this delay is often viewed as an impediment on the ability of the Central Bank to steer the economy. Several reasons, such as credit rationing and adverse selection, switching costs, risk sharing, consumer irrationality, structure of the financial system, menu costs and asymmetric information are some of the causes advanced for commercial banks retail rates being sticky. In spite of the important role of pass-through analysis in the monetary policy transmission process, it has received very little attention in Sub-Saharan Africa, especially in Cameroon and Nigeria, which have implemented a series of reforms. To this end, this study gives a comparative analysis of interest rate pass-through in Nigeria and Cameroon using retail rates (lending and deposit) and a discount rate (policy rate) from January 1990 to December 2010 for Nigeria and from January 1990 to June 2008 for Cameroon. The study examines the magnitude and speed of retail rate adjustments to changes in the Central Bank policy rate as well as examining the possibility of symmetric and asymmetric pass-through in both countries. In addition, the study also investigates whether there is pass-through of monetary policy from one country to the other. The empirical analysis employs four different types of co-integration techniques to test the presence of a long run co-integrating relationship between retail and the policy rates in order to ensure that the relationship detected is robust. Three sets of analyses are carried out in the study. Following Cottarelli and Kourelis (1994), the study employed a co-integration technique, firstly, to analyse pass-through for the entire sample, secondly, to analyse symmetric and asymmetric pass-through using a ten year rolling window analysis in an error correction framework. Finally, the policy rates were swapped around to investigate if there are transmissions of impulses from one country to the other. Overall, evidence from the entire sample and rolling window analysis suggests that monetary policy in Cameroon is less effective. This is perhaps one of the reasons why the Banque Des Etats De L’Afrique Centrale (BEAC) is unable to sterilise the excess liquidity of the banking sector in Cameroon. The long run pass-through of 0.72 and 0.71 for the entire sample, and the average long run pass-through for the rolling window of 0.78 and 0.76 for the lending and deposit rates, suggest that monetary policy is highly effective in Nigeria compared to Cameroon. The empirical evidence confirmed asymmetric adjustment in six rolling windows in the lending rate in Nigeria. Three rolling windows indicated that the direction of rigidity is downward, supporting Scholnick’s (1996) collusive pricing arrangement between banks, and the other three suggested that the lending rate is rigid in the upward direction, corroborating Scholnick’s (1996) customer reaction hypothesis. The deposit rate in Cameroon was also found to adjust asymmetrically and the direction of rigidity is downward, supporting Hannan and Berger’s (1991) customer reaction hypothesis. The investigation of impulse transmission between the two countries revealed that only the policy rate in Nigeria exerts some influence on the deposit rate in Cameroon. Policy recommendations are also discussed.

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Owusu, Erasmus Larbi. "Financial liberalisation and economic growth in ECOWAS countries." Thesis, 2012. http://hdl.handle.net/10500/6032.

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The thesis examines the comprehensive relationship between all aspects of financial liberalisation and economic growth in three countries from the Economic Community of West African States (ECOWAS). Employing ARDL bounds test approach and real GDP per capita as growth indicator; the thesis finds support in favour of the McKinnon-Shaw hypothesis but also finds that the increases in the subsequent savings and investments have not been transmitted into economic growth in two of the studied countries. Moreover, the thesis also finds that stock market developments have negligible or negative impact on economic growth in two of the selected countries. The thesis concludes that in most cases, it is not financial liberalisation polices that affect economic growth in the selected ECOWAS countries, but rather increase in the productivity of labour, increase in the credit to the private sector, increase in foreign direct investments, increase in the capital stock and increase in government expenditure contrary to expectations. Interestingly, the thesis also finds that export has only negative effect on economic growth in all the selected ECOWAS countries. The thesis therefore, recommends that long-term export diversification programmes be implemented in the ECOWAS regions whilst further investigation is carried on the issue.
Economic Sciences
D. Litt et Phil. (Economics)

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Books on the topic "Nigerian monetary policy"

1

Gbosi, Augustus N. Monetary economics and the Nigerian financial system. Port Harcourt, Nigeria: Pam Unique Publishers, 1993.

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Sanusi, J. O. The Nigerian economy: Growth, productivity and the role of monetary policy. Ibadan, Nigeria: Development Policy Centre, 2001.

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The Nigerian banking sector reforms: Power and politics. Houndmills, Basingstoke, Hampshire: Palgrave Macmillan, 2011.

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4

Ndekwu, Eddy Chicka. Interest rates, bank deposits, and growth of the Nigerian economy. Ibadan: Nigerian Institute of Social and Economic Research, 1991.

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Aluko, S. A. Monetary problems of Nigeria. Port Harcourt, Nigeria: Pam Unique Pub. Co., 1986.

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Ndekwu, Eddy Chicka. Monetary development and management in Nigeria: A study of monetary theories, policies, and realities in the management of Nigeria's economy. Ibadan: Nigerian Institute of Social and Economic Research, 1990.

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Ikhide, S. I. Financial sector reforms and monetary policy in Nigeria. Brighton: Institute of Development Studies, 1998.

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Umole, Joe A. Monetary and banking systems in Nigeria. [Benin City, Nigeria: Adi Publishers, 1985.

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Ndekwu, Eddy Chicka. Bank liquidity, exchange rates, and monetary policy in Nigeria. Ibadan, Nigeria: Nigerian Institute of Social and Economic Research (NISER), 1997.

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An econometric analysis of the monetary policy reaction function in Nigeria. Nairobi, Kenya: African Economic Research Consortium, 2011.

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Book chapters on the topic "Nigerian monetary policy"

1

Adam, Christopher, and Benedikt Goderis. "Monetary Policy and Oil Price Surges in Nigeria." In Economic Policy Options for a Prosperous Nigeria, 121–46. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/9780230583191_6.

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Debrun, Xavier, Paul Masson, and Catherine Pattillo. "Modelling Policy Options for Nigeria: Fiscal Responsibility, Monetary Credibility, and Regional Integration." In Economic Policy Options for a Prosperous Nigeria, 93–120. London: Palgrave Macmillan UK, 2008. http://dx.doi.org/10.1057/9780230583191_5.

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Edeme, Richardson Kojo, Chinedu Uche Erobu, and Aduku Ebikabowei Biedomo. "Optimal Monetary Policy Instruments for Nigeria." In The Impacts of Monetary Policy in the 21st Century: Perspectives from Emerging Economies, 89–107. Emerald Publishing Limited, 2019. http://dx.doi.org/10.1108/978-1-78973-319-820191014.

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Oluseun Olayungbo, David. "Bayesian Graphical Model Application for Monetary Policy and Macroeconomic Performance in Nigeria." In Bayesian Networks - Advances and Novel Applications. IntechOpen, 2019. http://dx.doi.org/10.5772/intechopen.87994.

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Lawal, Adedoyin Isola, Afees Adebayo Salisu, Russell Olukayode Somoye, Abiola Ayopo Babajide, and Joseph Niyan Taiwo. "Re-examining Stock Market Efficiency in Nigeria Using Nonlinear Unit Root Tests." In The Impacts of Monetary Policy in the 21st Century: Perspectives from Emerging Economies, 75–88. Emerald Publishing Limited, 2019. http://dx.doi.org/10.1108/978-1-78973-319-820191011.

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