Description
Effect of money market and economic growth in Nigeria.
Abstract
This study investigated the effect of money market on the economic growth in Nigeria. The study had specific objectives: to determine the relationship between Treasury Bills and Gross Domestic Products in Nigeria, to assess the impact of Treasury Certificates on the Gross Domestic Products in Nigeria and to ascertain the effect of Commercial Papers on the Gross Domestic Products in Nigeria. This study adopted the ex post facto research design. For effective analysis of the topic, Data were collected only from secondary sources, and hypotheses were analyzed using Ordinary Least Squares (OLS). The study concluded that based on the three measure of money market instruments only treasury bills is significant in promoting economic growth in Nigeria while commercial paper and treasury certificate are not significant in contributing to economic growth in Nigeria. It was recommended that Nigeria”s money market should be reformed in line with the current globalization trend and internationalization of the money market to allow a flow of foreign investment into the economy which will increase the number of tradable instruments in the market.
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