This research work focus on the appraisal of Macroeconomic Policy on Inflation in Nigerian Economy, also to determine how it enhances the growth of Nigerian Economy. The aim of this research work is to look into challenges and numbers of hypothesis were drawn. Information necessary to address the test of hypothesis was gathered through secondary data, source from Central Bank of Nigeria (CBN). Economic analysis was used to formulate the three (3) models that were stated in this research work. Multiple regressions were also used to test the appraisal of Macroeconomic Policy on Inflation in Nigerian Economy.
The findings of this research show that macro-economic policy as a tool for Economic Policy and Growth as a Positive Effect on the Growth in Nigeria. In conclusion, government should ensure that operational problems are tackled prior to sale so that there would not be any barrier hindering the high degree of efficiency that is associated with the stability of the Nigerian economy.
TABLE OF CONTENTS
Title page i
Table of Contents vii
1.1 Introduction 1
1.2Statement of Problems4
1.3Objective of the Study4
1.5The Statement of Hypothesis5
1.7Significance of the Study6
1.8The Scope and Limitation of Study6
1.9Organisation of the Study8
1.10Definition of Terms8
2.1Meaning and Objectives of fiscal and monetary policy10
2.2Issues in Fiscal and Monetary Policies15
2.3Keynes Debate on Monetary and Fiscal Policies18
2.4 The Impact of Monetary and Fiscal Policies on the Nigerian Economy21 CHAPTER THREE:
3.1The Theories of Monetary and Fiscal Policies24
3.2The Relationship between Monetary and Fiscal Policies the IS¬LM Framework26 3.3Mathematical Graphical Derivation of IS-LM Schedule29
3.4 Measure for the Improvement of the Monetary and Fiscal Policies in the Nigerian Economy35 3.5Model Specification36
4.2Methods of Estimation of Analysis39
4.4Specification of Data50
4.5Empirical Results and Interpretation40
4.6Interpretation and Analysis of Results54
5.0Summary Conclusion and Recommendations62
5.1Summary of the Findings 62
5.2 Recommendations 63 5.3 Conclusion Bibliography64 Bibliography66
Over the years, Nigeria has made conscious and determined efforts to attain a high level of social and economic transformation of the economy in order to attain the development goals and including monetary policy, fiscal, policy, exchange control measures and income and price control. The measures adopted were changed from time to time to reflect the changing economic environment and circumstances.
This work focuses on two of the policies adopted (monetary and fiscal policy) and examines their uses for economic growth and stability in Nigeria. Since the main burden of aggregate economic policy must fall on either monetary policy and fiscal policy or a combination of both. The question arises as to whether to clear cut distinction can be made between policies which are termed "MONETARY" are those which are to be called "FISCAL" The truth is that considerable ambiguity about these terms exist and this often leads to useless debate and confusion.
However, monetary policy can be as a measure which deals with the discretionary control of money supply by the monetary authorities with a view of achieving stated economic...