An important aspect of monetary and fiscal policies is that neither occurs in a vacuum. Theoretical background cashless economy is not the complete absence of cash, it is an economic setting in which goods and services are bought and paid for through electronic media. That includes credit, cash, checks, and money market mutual funds. The time series data is the market controlled period covering 1986 to 2016. Uniprojects aim of providing this impact of fiscal and monetary policy in controlling unemployment in nigeria project research material is to reduce the stress of moving from one school library to another all in the name of searching for impact of fiscal and monetary policy in controlling unemployment in nigeria research materials. The impact of fiscal and monetary policy on nigerian economic growth. Abstract this study empirically examined the impact of fiscal fundamental on unemployment in nigeria. Nigeria has over the years been controlling her economy through various. Monetary and fiscal policy interact to affect the economy. Annual time series data, sourced from central bank of nigeria cbn statistical bulletins 19852012 were used to analyze and estimate the three multiple regression models drawn up, with the aid of software package for social sciences spss. Vat cut to 15% in 2008 and therefore help to increase. Fiscalmonetary policy and economic growth in nigeria hrmars.
Read or download full impact of fiscal and monetary policy in controlling unemployment in nigeria academic project work. Monetary policy refers to the combination of measures designed to regulate the value, supply and cost of money in an economy in consonance with the level of economic activities. Monetary policy and unemployment in nigeria central bank of. The impact of fiscal fundamental on unemployment in nigeria. The government will need to pursue expansionary fiscal policy. Pdf the impact of fiscal policy on inflation in nigeria. This study examined the impact of monetary policy on the growth of nigeria economy between the period of 1981 and 2012 with the objective of finding out the impact of various monetary policy instruments money supply, interest rate, exchange rate and liquidity ratio in enhancing economic growth of the country within the period considered. This paper investigates the impact of fiscal and monetary policies on unemployment problem in nigeria and covers the periods 1980 to 20. Monetary policy and unemployment in nigeria econstor. The past 10 years have been characterized by an average growth rate of. The following impact of fiscal and monetary policy in controlling unemployment in nigeria research material is mainly for undergraduates. This except one was highly significant in reducing the level of unemployment generation in nigeria than monetary. Department of economics, nnamdi azikiwe university awka, nigeria.
This paper investigates the impact of fiscal and monetary policies on unemployment problem in nigeria from 1980 to 20, which is a period of thirty three years which gives enough degree of freedom for a reliable estimation result. Introduction when the united states of america recently experienced great recession in december 2007 to june 2009, it impacted adversely on other countries of the world. Monetary policy and central bank of nigeria project topics. Pdf fiscal policy and unemployment in nigeria researchgate. To achieve this, fiscal policy was captured here by government expenditures and revenues respectively while monetary policy was proxied by broad money supply m2, interest and exchange rates respectively. Fiscal policy is used in order to compliment the effect of monetary policy of the central bank of nigeria cbn. The study employed the annual data on government expenditure, government revenue, interest rate, and public debt from central bank of nigeria statistical bulletin covering the period of 19812015. The positive impact of these policy tools on economic performance will help the country achieve sustained growth and while reducing economic instability. Assessing the impact of monetary policy in nigeria economy. Generation and nigeria economic development analyzed the monetary and fiscal policy implication nigerias full employment level. Time series data were collected from the central bank of nigeria cbn, the international monetary fund imf and the world bank.
Mar 02, 2019 this project is aimed at examining the impact of monetary policy in nigeria economy and viewing the effect of central bank of nigeria cbn to introduce new monetary policy tools. An econometric investigation abubakar abu and abdullahi 2010 in their finding shows total capital, total recurrent and government expenditure on education to have a negative impact on. In addition, the impact of monetary policy on growth in nigeria generated large volumes of empirical studies with mixed findings using cross sectional, time series and panel data. Dynamic effects of fiscal policy on output and unemployment. Nov 21, 2019 fiscal policy can decrease unemployment by helping to increase aggregate demand and the rate of economic growth. The impact of monetary and fiscal policies on nigerian. Doc the impact of monetary policy on inflation in nigeria. Pdf the impact of fiscal and monetary policies on unemployment. The main purpose of this study is to empirically examine the effectiveness of monetary policy in controlling inflation in nigeria. A decade later, perspectives on the effectiveness of monetary policy had changed. D school of management sciences national open university of nigeria abstract the role of fiscal policies in the development of emerging economies has been a major source of concern in economic literature. Introduction during the 1980s and 1990s, the vulnerability of emes to shocks was often exacerbated by high fiscal deficits, underdeveloped domestic bond markets, and largecurrency and maturity mismatches.
The impact of fiscal policy on the nigeria economy economics. Fiscal policy refers to the ponder effort of government policy to control its expenditure. If the monetary policy have been effectively used, there will be low inflationary trend in the economy, there by increasing or enhance the purchasing power of the citizens. Impact of fiscal and monetary policy in controlling unemployment in nigeria project material.
This study is on the impact of fiscal policy on investment expenditure in nigeria. Over the last decade, the growth impact of fiscal policy has generated large volume of both. While monetary policy focuses on the control of availability, volume, flow. The impact of monetary and fiscal policies on nigerian economic. The study empirically examines the impact of monetary policy on economic growth in nigeria, in line with the objectives of this study, secondary data were obtained from central bank of nigeria. This impact of fiscal and monetary policy in controlling unemployment in nigeria research material may also be useful to post graduates. Monetary policy is primarily concerned with the management of. Impact of fiscal and monetary policy in controlling. May 22, 2017 the scope of the study covers fiscal policy and economic growth in nigeria from 19802012. The study investigated effect of monetary policy on economic growth in nigeria. Impact of fiscal and monetary policy in controlling unemployment. The impact of monetary policy on the economic growth of nigeria. This work attempts to see the impact of fiscal policy.
The study was undertaken to ascertain impact of fiscal policies in nigeria economy. Effectiveness of monetary policy in controlling inflation in. To achieve this, fiscal policy was captured here by. It uses secondary data on inflation, exchange rate, treasury bill rate, money supply, gdp growth, oil prices and world food prices. A multiple regression model is specified in the study to assess the impact of fiscal policy on investment, using government expenditure, gross domestic product and corporate income tax. However, on the other hand, all the fiscal variables significantly reduced unemployment in nigeria. May 27, 2018 a look at fiscal and monetary policy some side effects just like monetary policy, fiscal policy can be used to influence both expansion and contraction of gdp as a measure of economic growth. May 03, 2016 this study investigated the effect of fiscal policy on economic growth in nigeria. Monetary and fiscal policy tools are used in concert to help keep economic growth stable with low inflation, low unemployment, and stable. The impact of fiscal policy on inflation in nigeria. This study was carried out to evaluate inflation accounting and control through monetary policy measures in nigeria from 1973 to 2010. The impact of fiscal and monetary policy on nigerian. Fiscalmonetary policy and economic growth in nigeria. The effect of fiscal policy on economic growth in nigeria.
C onyeagba3 1,2, department of banking and finance nnamdi azikiwe university, awka 3, department of banking and finance, federal polytechnic, okoh. The most important of these forms of money is credit. This investigates the three elements of fiscal policy 1 government spending, taxation and the other source of revenue which finance public spending and the resulting budget deficit or surplus which occurs wherever government expenditure does not exactly equal revenue. The research material available to the researcher is insufficient, thereby limiting the study. This paper examines the impact of monetary policy on the nigerian. An empirical trend analysis onyemaechi joseph onwe, ph. This paper investigates the impact of f iscal and monetary policies on unemployment problem in nigeria and covers the periods 1980 to 20. Being economy has long history of its economic problems irrespective of developing economy regardless of the nature of economic practices. The impact of central bank of nigeria cashless policy in. Apr 10, 2019 monetary policy and fiscal policy refer to the two most widely recognized tools used to influence a nations economic activity.
The natural log of the gdp was used as the dependent variables against the explanatory monetary policy variables. Impact of monetary policy on economic growth in nigeria. In the cause of the study, there are some factors which limited the scope of the study. Monetary policy is one of the prime economic management tools that governments use to shape economic performance. The result also reveals a long run relationship between fiscal policy and unemployment, as. Pdf the impact of fiscal and monetary policy on nigerian. Fiscal policy, public debt and monetary policy in emerging. Sep, 2019 between monetary and fiscal policy, the former is generally viewed as having the largest impact on the economy, while fiscal policy is seen as being the less efficient way to influence growth trends. However, the fundamental problem of the study is the application of open market operation omo as an instrument of monetary policy in nigeria. Apr 16, 2020 monetary policy is a central banks actions and communications that manage the money supply. The impact of fiscal and monetary policy on nigerian economic. Pdf this paper investigates the impact of fiscal and monetary policies on unemployment problem in nigeria and covers.
The main objective is to analysis how various components of fiscal policy have contributed to the growth rate of the nigerian economy. The johansen contegration test suggested a long run relationship exist between fiscal policy and unemployment reduction in both nigeria and ghana. Measured against fiscal policy, monetary policy is said to be quicker at resolving economic shocks uniamikogbo and enoma, 2001. The impact of fiscal policies in stabilization of the. Fiscal policy, public debt and monetary policy in emes. This study investigated the impact of fiscal and monetary policy on nigerian economic growth from 1981 to 2015, with the interest in exploring which of fiscal or monetary policy has been effective in propelling economic growth in nigeria and how gdp. The impact of central bank of nigeria cashless policy in nigeria economy. Academics in impact of fiscal and monetary policy in. View academics in impact of fiscal and monetary policy in controlling unemployment in nigeria on academia. This study determines the effectiveness of monetary policy in controlling inflation in kenya. Monetary policies involves changes in the quantity of money held by the public. Secondary data were used empirically to do the assessment.
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