Elizabeth Obiaje - Academia.edu (original) (raw)

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Papers by Elizabeth Obiaje

FEL-03030033, 2024

This paper investigates the impact of monetary policy on the performance of deposit money banks i... more This paper investigates the impact of monetary policy on the performance of deposit money banks in Nigeria, using monthly data series spanning the period 2008 to 2023. Total private sector credit of deposit money banks was used to proxy the performance of deposit money banks while money supply, monetary policy rate, cash reserve ratio, and maximum interest rate were used as proxies for monetary policy. The Ex-post Facto research design was adopted in this study. Data on total private sector credit of deposit money banks, money supply, monetary policy rate, cash reserve ratio, and maximum interest rate were obtained from the Central Bank of Nigeria (CBN) Statistical bulletin. The hypotheses of this paper were tested using the Autoregressive Distributed Lag statistics. The findings disclosed that total private sector credit of deposit money banks has a significant relationship with money supply and maximum interest rate while cash reserve ratio and monetary policy rate has an insignificant relationship with total private sector credit of deposit money banks. The researchers recommended among other things that the monetary authorities should consider policies that enhance liquidity within the banking system. This can be achieved through open market operations, reducing the reserve requirements, or other mechanisms that increase the availability of funds in the economy as the money supply was found to be statistically significant. Also, it is crucial for monetary authorities to monitor and adjust the maximum interest rates to ensure they remain conducive to deposit growth. High lending rates may discourage borrowing and subsequently reduce deposits, while more favorable rates could encourage economic activity and deposit inflows.

Obiaje23242023Ajeba110333, 2023

The study examined the impact of monetary policy on economic growth in Nigeria, using annual data... more The study examined the impact of monetary policy on economic growth in Nigeria, using annual data spanning the period 1985 to 2022. One of the major objectives of monetary policy in Nigeria is economic growth but despite the various monetary efforts that have been adopted by the Central Bank of Nigeria over the years, inflation remains a major threat to Nigeria's economic growth. Despite the increased focus on monetary policy adoption in Nigeria, the country's economic growth remains an issue. High unemployment, low investment, high inflation, and an unstable foreign exchange rate are examples of such issues. These alleged issues are said to have contributed to Nigeria's rapid drop in economic growth. The objective of this paper is to examine the relationship between economic growth, exchange rate, inflation rate, interest rate, and money supply in Nigeria. In this regard, the study employed the Autoregressive-Distributed Lag (ARDL) approach and established a long-run relationship between economic growth and interest rate, inflation, exchange rate, and money supply. Specifically, the findings suggested that in the long run only interest rate has significant effects on economic growth while exchange rate, money supply, and interest rate have a positive relationship with the dependent variable, it was only the inflation rate that has a negative relationship with economic growth in Nigeria. Given the important role of interest rates in

FEL-03030033, 2024

This paper investigates the impact of monetary policy on the performance of deposit money banks i... more This paper investigates the impact of monetary policy on the performance of deposit money banks in Nigeria, using monthly data series spanning the period 2008 to 2023. Total private sector credit of deposit money banks was used to proxy the performance of deposit money banks while money supply, monetary policy rate, cash reserve ratio, and maximum interest rate were used as proxies for monetary policy. The Ex-post Facto research design was adopted in this study. Data on total private sector credit of deposit money banks, money supply, monetary policy rate, cash reserve ratio, and maximum interest rate were obtained from the Central Bank of Nigeria (CBN) Statistical bulletin. The hypotheses of this paper were tested using the Autoregressive Distributed Lag statistics. The findings disclosed that total private sector credit of deposit money banks has a significant relationship with money supply and maximum interest rate while cash reserve ratio and monetary policy rate has an insignificant relationship with total private sector credit of deposit money banks. The researchers recommended among other things that the monetary authorities should consider policies that enhance liquidity within the banking system. This can be achieved through open market operations, reducing the reserve requirements, or other mechanisms that increase the availability of funds in the economy as the money supply was found to be statistically significant. Also, it is crucial for monetary authorities to monitor and adjust the maximum interest rates to ensure they remain conducive to deposit growth. High lending rates may discourage borrowing and subsequently reduce deposits, while more favorable rates could encourage economic activity and deposit inflows.

Obiaje23242023Ajeba110333, 2023

The study examined the impact of monetary policy on economic growth in Nigeria, using annual data... more The study examined the impact of monetary policy on economic growth in Nigeria, using annual data spanning the period 1985 to 2022. One of the major objectives of monetary policy in Nigeria is economic growth but despite the various monetary efforts that have been adopted by the Central Bank of Nigeria over the years, inflation remains a major threat to Nigeria's economic growth. Despite the increased focus on monetary policy adoption in Nigeria, the country's economic growth remains an issue. High unemployment, low investment, high inflation, and an unstable foreign exchange rate are examples of such issues. These alleged issues are said to have contributed to Nigeria's rapid drop in economic growth. The objective of this paper is to examine the relationship between economic growth, exchange rate, inflation rate, interest rate, and money supply in Nigeria. In this regard, the study employed the Autoregressive-Distributed Lag (ARDL) approach and established a long-run relationship between economic growth and interest rate, inflation, exchange rate, and money supply. Specifically, the findings suggested that in the long run only interest rate has significant effects on economic growth while exchange rate, money supply, and interest rate have a positive relationship with the dependent variable, it was only the inflation rate that has a negative relationship with economic growth in Nigeria. Given the important role of interest rates in