Transmission Mechanisms of Monetary Policy in Nigeria A Dynamic Stochastic Approach

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dc.contributor.authorOdior, E.S.O.
dc.date.accessioned2020-03-28T17:02:48Z
dc.date.available2020-03-28T17:02:48Z
dc.date.issued2011
dc.description.abstractThis study examines the role of transmission mechanism of monetary policy in an emerging economy with a rapidly developing financial system. Specifically, we examine whether the central bank of Nigeria monetary policy influence economic activity (output) in Nigeria. Using a SVAR model, impulse response functions and forecast error variance decomposition analysis was performed to identify the relative strengths of different channels in transmitting the monetary pulses. The results show that one of the monetary channels (the reserves and not deposits) is more important than credit channel (loans) and the exchange rate channel. This implies that in less developed financial markets, monetary policy influence economic activity by varying the reserve availability than its loans.en_US
dc.identifier.citationOdior, E.S. (2011), “Transmission Mechanisms of Monetary Policy in Nigeria: A Dynamic Stochastic Approach” Business and Management Journal, Vol.1 No. 3, Lagos, Pp, 29 – 35en_US
dc.identifier.urihttps://ir.unilag.edu.ng/handle/123456789/8201
dc.language.isoenen_US
dc.publisherBusiness and Management Journalen_US
dc.relation.ispartofseries1;3
dc.titleTransmission Mechanisms of Monetary Policy in Nigeria A Dynamic Stochastic Approachen_US
dc.typeArticleen_US
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