Effect Of Selected Macroeconomic Variables On The Performance Of Nigeria Economy
Material type:
TextPublisher: Ibafo Department Of Accounting And Finance 2020Edition: Dr. Olurin Enitan Description: Viii;,38pgsSubject(s): Social Science -- Financial AccountSummary: ABSTRACT
The study examined the effect of selected macroeconomic variables on the performance of Nigeria economy from 2000 and 2018 was examined in this study. Secondary data from quarterly economic report of Central Bank of Nigeria (CBN) was used in this study. Multiple regression analysis was used in analyzing the data of this study. Findings from the analysis revealed that there is a negative but weak correlation between inflation and Gross Domestic Product (GDP), proxy for economic growth. there is a positive and strong correlation between exchange rate and Gross Domestic Product (GDP), proxy for economic growth, it reveals that there is a positive but moderate correlation between lending rate and Gross Domestic Product (GDP), proxy for economic growth, it indicates that there is a positive and high correlation between money supply and Gross Domestic Product (GDP), proxy for economic growth. This study recommend that government of Nigeria should maintain a stable political land scape in order to facilitate a meaningful improvement in economic growth.
Keywords: Multiple regression, Gross Domestic Product, inflation, exchange rate, lending rate, money supply
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ABSTRACT
The study examined the effect of selected macroeconomic variables on the performance of Nigeria economy from 2000 and 2018 was examined in this study. Secondary data from quarterly economic report of Central Bank of Nigeria (CBN) was used in this study. Multiple regression analysis was used in analyzing the data of this study. Findings from the analysis revealed that there is a negative but weak correlation between inflation and Gross Domestic Product (GDP), proxy for economic growth. there is a positive and strong correlation between exchange rate and Gross Domestic Product (GDP), proxy for economic growth, it reveals that there is a positive but moderate correlation between lending rate and Gross Domestic Product (GDP), proxy for economic growth, it indicates that there is a positive and high correlation between money supply and Gross Domestic Product (GDP), proxy for economic growth. This study recommend that government of Nigeria should maintain a stable political land scape in order to facilitate a meaningful improvement in economic growth.
Keywords: Multiple regression, Gross Domestic Product, inflation, exchange rate, lending rate, money supply
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