To reconcile the lack of consensus on the appropriate concept of money in Nigeria using a 45 year time series data from 1970 – 2014 and employing the Ordinary Least Squares (OLS) estimation techniques to estimate two equations for both monetary aggregates (M1 and M2).
Findings shows that the principal explanatory variable (GDP) on both models has a positive and significant impact on both monetary aggregates, but the impact was more felt in the broad money supply measure (M2). It was concluded that the broad money supply measure defines the appropriate concept of money in Nigeria.
Table of Contents
1.1 BACKGROUND TO THE STUDY
1.2 STATEMENT OF THE PROBLEM:
1.3 OBJECTIVES OF THE STUDY
1.4 SCOPE OF THE STUDY
1.5 SIGNIFICANT OF THE STUDY
1.6 ORGANISATION OF THE STUDY
2.0 LITERATURE REVIEW
2.1 THE CONCEPT OF MONEY
2.2 THE CONCEPT OF MONEY SUPPLY
2.3 MONEY SUPPLY MEASURES
2.4 THE MONEY SUPPLY MEASURE “M1”
2.5 THE MONEY SUPPLY MEASURE “M2”
2.6 EMPIRICAL LITERATURE
3.0 METHODOLOGY
3.1 MODEL SPECIFICATION
3.2 ESTIMATION AND VALIDATION OF THE MODELS
3.3 SOURCES OF DATA
3.4: LIMITATIONS
4.0 PRESENTATION AND ANALYSIS OF RESULTS
4.1 PRESENTATION OF RESULTS
5.0: SUMMARY AND CONCLUSION
5.1: SUMMARY
5.2: CONCLUSION
REFERENCES
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