FISCAL-MONETARY POLICY MIX AND OUTPUT RESPONSE IN NIGERIA.

Format: MS WORD | Chapter: 1-5 | Pages: 81 | 1755 Users found this project useful | Price NGN5,000

Fiscal-monetary Policy Mix And Output Response In Nigeria.

Fiscal-monetary Policy Mix And Output Response In Nigeria (1960-2012)

INTRODUCTION

The use of economic policy as tool for economic stabilization by governments of different economies of the world cannot be overemphasized. Some of these policy measures may have economic-wide effect (e.g. the budget and inflation) while others may have specific effects such as the consumption tax on consumer good (Killick, 1981 and Black, Calitz, Steenekamp, Ajam, 2000). Policymakers around the world employ various policies, singly or mix, to stabilize the boom-bust cyclical swings of economic activities. In macroeconomic management, the two most commonly employed policies are the fiscal and monetary policies.

The Monetary policy, managed by the Central Bank, is conducted through changes in the money supply and interest rate. While the Fiscal policy, which is managed by the government of that economy, is conducted through changes in government spending and taxes (Liborio, 2011; Hussain, Wijeweera and Hoang, 2012). Despite the fact that monetary and fiscal policies are implemented by two different bodies, these policies are far from independent. In fact, a change in one may influence the effectiveness of the other and thereby the overall impacts of any policy change. Since 1980s, there has been a general consensus among economists in favour of monetary policy as a more effective stabilization tool relative to fiscal policy (Mishkin, 2004; Mankiw, 2005; and Bullard, 2012), however, the recent global financial crisis of 2007 has renewed much interest on fiscal stimulus.

In recent times, policy makers are prompted to employ unconventional actions to stabilize the national economy. Precisely, while monetary policymakers turn to quantitative easing (the purchase of financial assets so as to lower long-term interest rates, thereby increasing the money supply), fiscal policymakers increase government spending and reduce taxes so as to boost employment and output (Liborio, 2011). The global economic meltdown, which persisted until 2009, had significant adverse effects on the real economic activities of many developing countries. For instance the Nigerian real GDP growth rate decline from 7.6 per cent in 2006 to 6.0 per cent at the onset of the crises in 2008. The effect of the global crisis was pervasive and its adverse effect remained noticeable in the areas of agriculture, industry and the wholesale sub-sectors in Nigeria (CBN, 2009). Similar trends were also observed in other countries of the world. To ensure that their economies are insulated or protected from the possible negative effects of such snowballing, many countries especially developing countries had resulted to the use of domestic macroeconomic policy to re-engineer their economy and provide some policy palliative that can assist in stabilizing their economies.

Nigeria in particular had, in response to the global economic crisis, introduced both monetary and fiscal stimuli as proactive measures to prevent the economy from nose-diving into further economic depression. The policy measures adopted by government were mainly on three broad fronts namely: monetary policy, fiscal policy and trade policy. In Nigeria, fiscal and monetary policies (especially the tools of government expenditure, money supply and monetary policy rate (MPR)) have been extensively used by the government and other policy makers to stimulate output.. In order to appreciate the policy-source of these variations in output performance over the years, it is necessary to take a retrospective look at the conduct of fiscal and monetary policy in Nigeria.

TABLE OF CONTENTS

Title Page

Certification

Dedication

Acknowledgements

Table of Contents

Abstract

CHAPTER ONE: INTRODUCTION

1.1 Background to the Study

1.2 Fiscal and Monetary Policy Management in Nigeria: a Retrospection

1.3 Statement of the Problem

1.4 Objective of the Study

1.5 Research Hypotheses

1.6 Significance of the Study

1.7 Scope/Delimitation of the Study

1.8 Organization of the Study

CHAPTER TWO: LITERATURE REVIEW AND CONCEPTUAL ISSUES

2.1 Conceptual Issues

2.2 Theoretical Review of Literature

2.2.1 The Keynesian’s View

2.2.2 The Monetarists’ View

2.2.3 Mundel-Fleming’s Model

2.3 Monetary Policy and Economic Growth in Nigeria

2.4 Economic Effect of Fiscal Policy

CHAPTER THREE: RESEARCH METHODOLOGY

3.1 Model Specification

3.1.1 Theoretical Framework

3.1.2 The Model

3.2 Data Measurement and Analysis

3.2.1 Fiscal Policy Variable

3.2.2 Monetary Policy Variable

3.2.3 External Variable

3.2.4 Output Variable

3.3 Method of Data Analysis

3.3.1 Unit root test

3.3.2 Co-integration Test

3.3.3 Error Correction Models (ECM)

CHAPTER FOUR: PRESENTATION AND INTERPRETATION OF RESULTS

4.1 Introduction

4.2 Time Series Properties of Data

4.2.2 Co-integration test

4.3 Empirical Discussion of Findings

4.4 Test of Hypotheses

CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS

5.1 Summary

5.2 Conclusion

5.3 Recommendations

REFERENCES

DOWNLOAD THE COMPLETE PROJECT

Project information

Project Price

NGN5,000
Number of Pages

81
Number of Chapters

1-5
Additional Content

Abstract,Table of content and Questionnaire

FISCAL-MONETARY POLICY MIX AND OUTPUT RESPONSE IN NIGERIA.

Not The Topic You Are Looking For?

For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005

Search for your project topic

HOW TO GET THE COMPLETE PROJECT ON FISCAL-MONETARY POLICY MIX AND OUTPUT RESPONSE IN NIGERIA. INSTANTLY

Click on the Download Button above.
Select any option to get the complete project immediately.
Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Samuel From Ajayi Crowther University

You guys just made life easier for students. Thanks alot iprojectmaster.com

Excellent

Gbadamosi Solomon Oluwabunmi

Lasu

Swift delivery within 9 minutes of payment. Thank you project master

Excellent

Peace From Unilag

I cried not knowing how to go about my project but the day i searched online and saw iprojectmaster, i called and got my full project in less than 15minutes, i was shocked!

Excellent

Stancy M

Abia State University, Uturu

I did not see my project topic on your website so I decided to call your customer care number, the attention I got was epic! I got help from the beginning to the end of my project in just 3 days, they even taught me how to defend my project and I got a 'B' at the end. Thank you so much iprojectmaster, infact, I owe my graduating well today to you guys...

Excellent

Abdul Mateen Iddrisu

UDS

At first I taught is a site full of fraudsters until I saw my project in my Gmail after my payment.. THANK YOU IPROJECTMASTER and May God the almighty bless u guys abundantly

Excellent

Musa From Ahmadu Bello University

Thank you iprojectmaster for saving my life, please keep it up and may God continue to bless you people.

Excellent

Oluchi From Michael Opara University

If you are a student and you have not used iprojectmaster materials, you are missing big time! iprojectmaster is the BEST

Excellent

Joseph M. Yohanna

Thanks a lot, am really grateful and will surely tell my friends about your website.

Excellent

Abraham Ogbanje

NATIONAL OPEN UNIVERSITY OF NIGERIA

At first I was afraid.. But I discovered they are legit. I will bring more patronize

Very Good

Abdulrahman Jibrin

Nti Abaji

Nice one work prompt delivery tanx

Very Good

View All Reviews

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on FISCAL-MONETARY POLICY MIX AND OUTPUT RESPONSE IN NIGERIA.? Simply click on the Download button above and follow the procedure stated.
I have a fresh topic that is not on your website. How do I go about it?
How fast can I get this complete project on FISCAL-MONETARY POLICY MIX AND OUTPUT RESPONSE IN NIGERIA.? Within 15 minutes if you want this exact project topic without adjustment
Is it a complete research project or just materials? It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data
What if I want to change the case study for FISCAL-MONETARY POLICY MIX AND OUTPUT RESPONSE IN NIGERIA., What do i do? Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately
How will I get my complete project? Your Complete Project Material will be sent to your Email Address in Ms Word document format
Can I get my Complete Project through WhatsApp? Yes! We can send your Complete Research Project to your WhatsApp Number
What if my Project Supervisor made some changes to a topic i picked from your website? Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately
Do you assist students with Assignment and Project Proposal? Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately
What if i do not have any project topic idea at all? Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373
How can i trust this site? We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!