Alege, P. O. and Izedonmi, P.F. (2008) The Impact of Monetary and Fiscal Policies on The Real Gross Domestic Product of Nigeria 1970-2003. In: WEST AFRICAN INSTITUTE FOR FINANCIAL AND ECONOMIC MANAGEMENT (WAIFEM). Designed and Produced by Benjasprint Ltd.. ISBN 978-36040-7-4
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Abstract
This paper builds and estimates a model of national income (proxied by the gross domestic product, GDP), with a view to testing the impact of monetary and fiscal policies on aggregate demand and economic growth. The estimation technique used is the Error Corre.:tion Model (ECM). This approach points to the existence of a long-run equilibrium in the growth of real GDP as ajimction ofmoney supply, export and other regressors in the period I 970- 2003. The empirical results tend to suggest non-neutrality of monetary policy while fiscal policy appears to corroborate thepolicy ineffectiveness proposition (PIP). From the findings it is apparent that regulatory authorities need a judicious combination ofmonetary andfiscal policies in order to ensure long-run economic growth.
| Item Type: | Book Section |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Patricia Nwokealisi |
| Date Deposited: | 12 Mar 2015 22:08 |
| Last Modified: | 12 Mar 2015 22:08 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/3885 |
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