ABSTRACT This study investigates the effectiveness of monetary policy under flexible exchange rate regime in Nigeria using Ordinary Least Square approach. Quarterly time series data spanning 1980:1 – 2008:4 are used in this work. The study examines stochastic characteristics of each time series by testing their stationarity using Augumented Dickey Fuller (ADF) test. This is followed by performing co integration test using Augmented Engle-Granger (AEG) technique. The results of the cointegration test indicates that the residuals estimated from our RGDP and CPI equation are not stationary at both 5% and 1% levels of significance implying that the variables used in this regression are not cointegrated. The absence of no co integration means that long run equilibrium relationship does not exist among the nonstationary variables. The result suggests that government should through its monetary policy actions and operations in money market continue to influence the exchange rate direction such that it ensures the competitiveness of the domestic economy. Thus, the study concludes that under flexible exchange rate regime monetary policy instruments impacted significantly on real output, Consumer price index and balance of payment account in Nigeria.
CHINWE.M., C (2022). The Effectiveness of Monetary Policy Under the Effectiveness of Monetary Policy Under Flexible Exchange Rate Regime Flexible Exchange Rate Regime in Nigeria.. Afribary. Retrieved from https://afribary.com/works/the-effectiveness-of-monetary-policy-under-the-effectiveness-of-monetary-policy-under-flexible-exchange-rate-regime-flexible-exchange-rate-regime-in-nigeria
CHINWE.M., CHINWE. "The Effectiveness of Monetary Policy Under the Effectiveness of Monetary Policy Under Flexible Exchange Rate Regime Flexible Exchange Rate Regime in Nigeria." Afribary. Afribary, 16 Oct. 2022, https://afribary.com/works/the-effectiveness-of-monetary-policy-under-the-effectiveness-of-monetary-policy-under-flexible-exchange-rate-regime-flexible-exchange-rate-regime-in-nigeria. Accessed 26 Dec. 2024.
CHINWE.M., CHINWE. . "The Effectiveness of Monetary Policy Under the Effectiveness of Monetary Policy Under Flexible Exchange Rate Regime Flexible Exchange Rate Regime in Nigeria.". Afribary, Afribary, 16 Oct. 2022. Web. 26 Dec. 2024. < https://afribary.com/works/the-effectiveness-of-monetary-policy-under-the-effectiveness-of-monetary-policy-under-flexible-exchange-rate-regime-flexible-exchange-rate-regime-in-nigeria >.
CHINWE.M., CHINWE. . "The Effectiveness of Monetary Policy Under the Effectiveness of Monetary Policy Under Flexible Exchange Rate Regime Flexible Exchange Rate Regime in Nigeria." Afribary (2022). Accessed December 26, 2024. https://afribary.com/works/the-effectiveness-of-monetary-policy-under-the-effectiveness-of-monetary-policy-under-flexible-exchange-rate-regime-flexible-exchange-rate-regime-in-nigeria