The effect of inflation on the growth of Nigeria’s economy.

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ABSTRACT

The main objective of the study is on the macroeconomic effect of inflation on the

growth of Nigerian economy. The study however investigates the economic growth vis-à-vis

inflation, Broad Money Supply and Interest Rate. Ordinary Least Square [OLS] is

used to estimate the three major macroeconomic variables with a view to

justifying their effects on economic growth. The results of the findings

further suggest that there is significant relationship between inflation and economic

growth in Nigeria. The study therefore suggests among others that exchange rate

policy should be designed to bridge the saving investment gap, enhance

government revenue and reduce the fiscal gap through the curtailment of deficit

and guarantee of external balance in the long-run.

TABLE OF CONTENTS

CHAPTER ONE

INTRODUCTION

1.1 Background to the Study

1.2 Statement of the Problems

1.3 Objective of the Study

1.4 Significance of the study

1.5 Research Questions

1.6 Statement of hypothesis

1.7 Scope of the study

1.8 Organization of the Study

CHAPTER TWO

LITERATURE REVIEW

2.1 Introduction

2.12 The Keynesian

2.13 The Phillips curve

2.14 The Monetarists

2.15 The Neo-Keynesian

2.16 Economic Growth Rate, Real Exchange/ inflation

2.20 Empirical Review on Inflation and Economic Growth

2.21 Determinant of Inflation in Nigeria

2.22 Evaluation of Inflation Targeting in Nigeria

2.23 Inflation and Effect on Economic Growth

2.23.1 Effect on Stock Price

2.23.2 Interest Rate and Stock Price

2.23.3 Real GDP and Stock price

2.24 Inflation and Anti-inflation Policy in Nigeria

2.24.1 Period of 1960-1972

2.24.2 Period of 1973-1985

2.24.3 Period of 1986-1994

CHAPTER THREE

RESEARCH METHODOLOGY

3.1 Introduction

3.2 Nature and source of data

3.3 Estimation technique

3.4 Model specification

3.5 Definition of Variables

CHAPTER FOUR

PRESENTATION AND ANALYSIS OF RESULT

4.1 Introduction

4.2 Presentation of result

4.3 Trend in the variables

4.4 Policy implication

CHAPTER FIVE

SUMMARY, CONCLUSION & RECOMMENDATIONS

5.1 Summary

5.2 Conclusion

5.3 Recommendation

References

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The effect of inflation on the growth of Nigeria’s economy.

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