This page presents an excerpt of the available research material, including the Preliminary Pages, Table of Contents, Abstract, Chapters One to Five, and References. It provides a comprehensive overview of the study, enhancing readability and accessibility for students, and researchers seeking complete material on “Managing Monetary Policy in an Environment of Fiscal Policy Dominance in the Nigerian Economy”.
I am profoundly grateful to everyone who contributed to the successful completion of this project. I am especially grateful to my Supervisor (Name), the Head of Department (Name), and the Lecturers in the Department of Economics for their invaluable guidance and support. I also acknowledge the contributions of authors and scholars whose works on Managing Monetary Policy in an Environment of Fiscal Policy Dominance in the Nigerian Economy provided essential insights. Special thanks go to my study area (and any funding organizations, if applicable) for their financial assistance. I am equally thankful to stakeholders, including mentors, teachers, and colleagues, for their encouragement and support. Finally, I deeply appreciate my family and friends for their patience and unwavering support throughout this journey. Your contributions have been instrumental in making this research a reality.
This study sets out to examine managing monetary policy in an environment chocked up with huge fiscal deficits and public debt, high inflation rate etc, (which gives rise to fiscal dominance), in Nigerian setting during the period 1980 to 2004.
To accomplish this, statistical hypotheses were stated empirically. In chapter two, of the study, the review of various monetary policies in Nigeria was highlighted. Also there were emphasis on the fiscal policy and arguments on which of the two policies actually dominates.
The theoretical frame work was formulated and presented in chapter three.
While in the forth chapter, the model developed in chapter three was specified and estimated by the ordinary least square (OLS) technique and the Cochrane-Orcutt as a corrective measure for auto-correlation, using the annual data for the period under study.
The fifth chapter concludes with the findings of the study which are;
Firstly, the results of the model showed that the specified variables which includes; banking system holdings of public domestic debt outstanding, domestic public debt, total government expenditure and inflation rate were all significant in explaining the systematic variation in the level of money supply with the exception of the domestic public debt.
Secondly after the application of the corrective mechanism i.e. The Cochrane-orcutt measure, all variables were statistically significant except that of total government expenditure. And all the variables conformed to Apriori specification.
The study there fore points to the need for a prudent fiscal policy and monetary authorities should place more emphasis on monetary actions than on fiscal action in their drive towards stabilization of the economy.
1.1 Introduction
… As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitation of the study and Definition of technical terms.…
