Original scientific paper

STRUCTURAL BREAKS, DEMAND FOR MONEY AND MONETARY POLICY IN NIGERIA

Douglason G. Omotor

Abstract

The paper estimates an endogenous structural break date of the money demand for Nigeria for the period 1960-2008. Using the Gregory and Hansen procedure, an endogenous break date of 1994 was estimated for the cointegrating equation of the demand for money. The study also joins previous ones to affirm a stable money demand function for Nigeria. In addition, it was established that the Central Bank of Nigeria has effectively used money supply as an instrument of monetary policy.

Keywords

Demand for money; structural breaks; monetary policy; cointegration; Nigeria

Hrčak ID:

72848

URI

https://hrcak.srce.hr/72848

Publication date:

15.10.2011.

Article data in other languages: croatian

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