ABSTRACT
This study examined the relationship between Money Supply, Inflation andOutput level in Nigeria with view to ascertaining the existence or otherwise of the Tobin effect. To achieve this, the study employed the ARDL bound testing approach to cointegration on annual series of Money supply, CPI and real GDP growth rate from 1970-2016.After controlling for the observed structural breaks in the series using the dummy variable approach, the short run model shows that Money supplyexerts a positive impact on the output level by of 0.21% while inflation retards output by 0.11%. However, in the long run, both money supply and Inflation were found to have no significant impacton output level. This findings suggest the absence of Tobin effect in Nigeria. The study therefore recommends that:the monetary authority must fasten its braces against inflation as well as its money supply generating mechanisms. Also, in order to consolidate the short run gains in output achieved by the money supply through the long run, effort should be geared towards boosting the productive base in order to meet up with the increase in demand which will consequently tame inflation.
BACKGROUND OF THE STUDY
Nearly everyone in the modern world is influenced to some degree by advertisin...
ABSTRACT
This study was designed to assess the knowledge, attitude and adoption of appropriate infant&n...
ABSTRACT
The use of railway transport system is becoming widespread in Nigeria with Government adopting new strategy and...
Abstract
Nigeria is one of African countries that have the lowest number of women in political participation and governance even though w...
ABSTRACT
Both water pollution and water scarcity are increasing global problems and particularly serious challenges for Africa. According...
Background of the study
In modern medicine, the use of X-rays in imaging modalities such as Computed Tomography (...
Background of the study
Transparency and accountability are essential for the effective operation of a...
ABSTRACT
The interaction between a pregnant mother and her developing baby are numerous and varied ranging from the food...
ABSTRACT
This work presents the design, fabrication and performance evaluation of a multiple sandcrete blocks moulding machine (MSBMM) fo...
Abstract
This research work focused on role of radio in propagating culture in Nigeria. The study was limited to K...