Odigie, George Isaiah and Covenant University, Theses (2021) THE IMPACT OF MONETARY POLICY ON SUSTAINABLE ENERGY FINANCING IN NIGERIA (1985 - 2019). Masters thesis, Covenant University Ota..
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Abstract
The monetary policy framework is one of the influencing factors of the economy. The energy sector like all other sectors of the economy is influenced by the monetary policy. Thus, the impact of monetary policy on sustainable energy financing in Nigeria was investigated in this study. The study used annual time series data spanning 1985 to 2019. The Auto-regressive distribution lag model was applied to evaluate the variables in the short run. Additional diagnostic tests were performed to determine the model's fitness, including the Heteroskedasticity Test, the Breusch-Godfrey Serial Correlation LM Test, the Normality Test, and the Model Stability Test. The finding shows that domestic credit to the private sector and energy consumption (per capita) has a favorable and significant impact on Gross Domestic Product on energy use. The dependent variable was negatively impacted by the broad money supply, which also was statistically significant. The other variables were positive, but they had no significant impact on Gross Domestic Product per unit of energy used. Thus, the study recommends that the apex bank should improve its monetary policy measures to control the money supply required for potential energy sector investment. This will enhance and contribute to the economic growth and development.
| Item Type: | Thesis (Masters) |
|---|---|
| Uncontrolled Keywords: | Auto Regressive Distributed Lag, broad money supply, Financial institution, Foreign Direct Investment, Gross domestic product, Energy sector |
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Patricia Nwokealisi |
| Date Deposited: | 25 Oct 2021 14:33 |
| Last Modified: | 25 Oct 2021 14:33 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/15395 |
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