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The Role of Monetary Policy in the Control of Inflation in Nigeria (1995-2005)Project / Seminar Material Reference ID: PS-24-TM |
This research work titled "The Role of Monetary Policy in the Control of Inflation in Nigeria (1995-2005)" is dedicated to God for his enabling grace and to all computer enthusiasts who help to make life a pleasant experience.
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I owe my indebtedness to my Supervisor (Name of your Supervisor), the Head of Department (Name of your HOD), the Lecturers in the department of Accountancy / Accounting, Book Authors and Profound Scholars of existing/related research work for your moral support that facilitated the successful completion of my (Tertiary Institution level). I am grateful to God Almighty and my parent for their financial support in my career. I really appreciate you all for everything, Thank you very much.
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Reference
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In there days there is uncontrollable inflation rate in Nigeria economy. This is so because the cost of saw materials are two high and there exist the so called Nigeria factors. Nevertheless, this research work has examined the roles played by the monetary authorities (CBN) towards ensuing the introduction of monetary policy to control inflation in Nigeria. Chapter one of the research work showed the introduction, statement of problem, research question, objective of study, scope of study, significant of the study and definition of terms. Chapter two showed the literature review white chapter three highlighted the research methodology, population and sample size. Adequate analyses are made in chapter four from the available introduction as regards the benefits of the monetary policy. In addition important recommendations are made in chapter five towards the integration and up determent of good conduct of monetary policy.
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Mortuary policy is policy which deals with the discretionary control of money supply by the monetary authorities in order to achieve stated or desired economic goal (S.B falegan 1978). the monetarist believe that study and slow growth in the money supply is the best policy to follow. They argue that increase in the money supply that is about an increase in the purchasing power of the people and the result is inflation in the federal government, though the ministry of finance and the carnal bank of Nigeria are responsible for these policies. The central bank of Nigerian issues a monetary policy circular at the beginning of every fiscal year containing details of the government new monetary polices.
The Keynesian view is that monetary policy should be directed at interest rates rather than money supply and that monetary policy should at all times be subsidiary to fiscal policy. In general monetary policy refers to the combination of measure designed to regulate the value supply and cost of money in an ecology in consonance with the expected level of economic activity hence. It is signed to influence the behavior of the monetary variable aggregate policy conduct is at the instance of the monetary authorities to stabilize the economy.
This is in line with the views of monetarist who emphasis the role of money in explaining short term changes in natural income. Mill on freeman for example proved that coinages in money supply cause changes in natural income. And to stabilize the monetary sector therefore, the discretion any measure are applied desires portfolio to asset also considered. Consequently, the monetary authorities must attempt keep the money supply growing at an appropriate state to sure sustainable economic growth and maintain internal and external stability. This discretionary stability thus, involves the expansion of prevailing economic condition and thrust of policy.
Two type of monetary policy are:
Inflation on the other hand is defined by Nwankwo (1977) as increase in the volume of credit relative to available goods resulting in a substantial and containing rise in the gene real price level. He also listed the characteristic of inflation as:
Inflation has influenced Nigeria as a whole in various ways which has been controlled by monetary inflation demand pull inflation, galloping inflation and hyper-inflation.
This research project is on the rate of monetary policy in the contract of inflation in Nigeria. It seeks to find out the exact relationship (in terms of monetary policy that exists between monetary policy and inflation. The researcher does this by analyzing the data on the two variables with ultimate aim of evaluating, verifying, reflecting or modifying the stated relationship (in terms of monetary policy effect which exist between the two variables.
This project is made up of five chapter the succeeding chapter review all the literature related to the research variable. The review being exhaustive an nature provides a comprehensive insight to these variables. Thus having it possible for money lenders to be acquitted with the variable what monetary policy and inflation is all about the exhaustive nature of the literature review is made possible by the made range of books consulting prior to its complication.
Chapter three introduces the research design and methodology used is the research work, it explains the method of data collection, population and sample method of data analysis and tools used analyzing complied data.
Chapter four introduces the presentation, analysis and inter presentation of data
Chapter five summarize research project, conduction and recommendation of the research project.
This research work is set to know why the rate of inflation in that adopted by the monetary policy to control it also at finding out why monetary policy measures adopted the government in thus the period of 1995 to 2005 did not solve the problem of inflation in Nigeria.
This study attempts to identify the following:
It is hoped that this study would be of help and benefit to the banking industry and the inflation can be central bank of Nigeria (CBN) it center more on how inflation can be controlled, thorough monetary policy in Nigeria. This could be in form of pen market operation interest rate, improving banking policy and so on. The impact of effect of rising price of goods and services will be examined.
This studies especially the CBN of apply the most effective role of monetary policy in the central of inflation in Nigeria. The study will be to the mental horizon of the researcher to be able to embrace similar tasks in future.
This research work covers the use of monetary policy in the Nigerian economy it also shows the government through the central bank of Nigeria achieve the economic objective of the government using monetary policy. These research also went further to know how monetary policy can be used to control inflations.
The limitations of the study are as follows:
Time: These wasnt mush time to go for further research analyze more facts because of the nature of this semester hence limiting my effectiveness and by extending my research finding.
Finance: This was the painfully problem I encountered when being for research due to the fact that didnt have enough money that could be enough for carrying out the research hence frustrating me in my effort to generate more data.
1.8 Definition Of Terms
Some terms in this study are defined to guide the readers who may be unfamiliar with the topic, monetary policy is defined as a deliberate manipulation of the cost volume ad direction of money and credit objectives.
Monetary authority: Monetary authority is defined as the machinery government that formulate and execute monetary policy on Nigeria, the monetary authority is regarded as the federal executive council, the ministry of finance and CBN inflation.
This is the continuous or intermittent rise in the price of goods & services.
This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the …
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The Role of Monetary Policy in the Control of Inflation in Nigeria (1995-2005) is a proposal topic for final year research work, which comprises the major and elective project proposal writing sections for The Role of Monetary Policy in the Control of Inflation in Nigeria (1995-2005) research work.
Motivation for Embarking on the Project
Brief Background of Study
Statement of Problems
Aim of the Study
Specific Objectives of the Study
Significance of the Study (Who benefits from the project and how?)
Relevant Research Questions
Relevant Research Hypotheses
Know your Project / Seminar Work (The Role of Monetary Policy in the Control of Inflation in Nigeria (1995-2005)): Here are the key point to study if your work is cumbersome or not.
CHAPTER ONE
CHAPTER TWO
CHAPTER THREE
CHAPTER FOUR
CHAPTER FIVE
Dress Code: Your dress code should be cooperate wear for example; putting on suit and tie during project defense gives you an automatic mark without a word.
External Examiner / Supervisor Questioning & Student Answering: Questions will come from the research work, any difficult or unknown question, kindly say "Sorry Sir/Madam, the question is not within my scope of study".