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The Impact Of Monetary Policy Measures As An Instrument Of Economic Stabilization In Nigeria (1980 - 2010)
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1.3 STATEMENT OF OBJECTIVES
The objectives of the study are:
i. To analyze the various monetary policy objectives and instrument for the period.
ii. To ascertain the level of success of policy measures against desired objects.
iii. To identify the factors that tends to hinder the full attainment of desired objectives.
iv.
To recommend the appropriate policy measures for the achievement of
specific objectives as well as recommend solution to problem that
hinders the full attachment of such objectives.
1.4 STATEMENT OF HYPOTHESISs
The following hypothesis is been formulated to guide the study.
H0: Monetary policy measures have no impact on the economic stabilization in Nigeria.
H1: Monetary policy measures have impact on the economic stabilization in Nigeria
1.5 SIGNIFICANCE OF THE STUDY
These
researches provide insight into monetary policy measures as an
instrument of economic stabilization and will therefore be of valuable
use to the following set of people.
i. To student, it will provide a compliment to the fair existing text on monetary policy and economic stabilization.
ii.
To bankers, it will also find a valuable tool toward analyzing the
effect of government action on their activities whether it is valuable
or not.
iii. To investors, it will serve as a guideline on the effect
of monetary policy on various sectors of the economy in which their
fund can be invested.
iv. To the ordinary reader, this work will serves as an open eye and a valuable store of knowledge.
1.6 SCOPE AND LIMITATION OF THE STUDY
This
research work covers the monetary policies from (1980 - 2010). This
study will cover the relationship between the individual who would wish
to know about the country’s economic state, and it is hoped that it will
go a long way to solve some of the economic problems as regards to
monetary policies and its measure as an instrument of economic
stabilization.
1.7 DEFINITION OF TERMS
Monetary stock: This is the amount of money in circulation at any point in time.
Reserve money: This refers to the amount of money, banks are required to maintain in their vaults.
Reserve ratio: This is the ratio of deposit that banks are required to maintain with the central banks.
Discount
rate: This is the rate at which the central bank make loan to
commercial bank as a leader of last resort. This term is used to qualify
the central bank, when banks are cash trapped; it is the central bank
that lends to them, whenever there is no alternative or liquidation.
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ABSRACT - [ Total Page(s): 1 ]The study examined the impact of monetary policy in stabilizing the Nigeria economy. In the model specified inflation is the regress while cash research requirement, liquidity ratio, money supply, minimum rediscount rate, interest rate are the regressors. The government employs a deliberate manipulation of cost and availability of credit and money to achieve this economic objective. The CBN being the sole regulatory body combines measures designed to regulate the value, supply and cost of money ... Continue reading---
