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Paper Id: IJCIRAS1625
Title: EXAMINING THE EFFECT OF INFLATION ON ECONOMIC GROWTH IN NIGERIA.
Published in: International Journal Of Creative and Innovative Research In All Studies
Publisher: IJCIRAS
ISSN: 2581-5334
Volume / Issue: Volume 3 Issue 2
Pages: 9
Published On: 7/10/2020 8:37:55 AM      (MM/dd/yyyy)
Main Author Details
Name: Musa Mujtaba Abdullahi
Institute: Nigerian Defence Academy Kaduna Nigeria
Co - Author Details
Author Name Author Institute
Abdullahi Salihu Gombe State University, Gombe, Nigeria
Abstract
Research Area: Economics
KeyWord: Inflation, Economic Growth, Interest rate, Exchange rate, Vector Error correction model.
Abstract: In Nigeria, past and present governments tried to reduce adverse effect of inflation on economic growth on the economy but not much has been achieved in this direction. Therefore, this study makes an analysis on the effect of Inflation on economic growth in Nigeria over period of 1981 to 2018. To achieve the objective of the study, annual time series data on GDP (economic growth), inflation, exchange rate and interest rate were collected from the online database of Central Bank of Nigeria (CBN) and the world development indicators. The Study employed augmented D ickey fuller test, Cointegration and vector error correction model. The results find the variables to be stationary at first difference, long run Cointegration among the variables and, inflation has negative and significant effect on GDP, whereby, exchange rate and interest rate have positive and significant effect on GDP. The error Correction term of the Vector Error correction model is negative and Statistically significant. The Study rec that monetary Authority should embark inflation targeting based on single digt digit inflationary rate, government should encourage production of goods and services because increase in output level can reduce inflation to the required minimum level and government should embark on suitable exchange rate and interest rate policies that will boost the economy.
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IEEE
Musa Mujtaba Abdullahi , Abdullahi Salihu, "Examining the effect of Inflation on economic growth in Nigeria. ", International Journal Of Creative and Innovative Research In All Studies, vol. 3, no. 2, pp. 34-42, 2020.
MLA Musa Mujtaba Abdullahi , Abdullahi Salihu "Examining the effect of Inflation on economic growth in Nigeria. ." International Journal Of Creative and Innovative Research In All Studies, vol 3, no. 2, 2020, pp. 34-42.
APA Musa Mujtaba Abdullahi , Abdullahi Salihu (2020). Examining the effect of Inflation on economic growth in Nigeria. . International Journal Of Creative and Innovative Research In All Studies, 3(2), 34-42.
Examining the effect of Inflation on economic growth in Nigeria.
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