THE IMPACT OF MONEY SUPPLY ON THE ECONOMIC GROWTH OF NIGERIA
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ABSTRACT
The study examined the impact of money supply on economic growth in Nigeria. Data was collected from CBN statistical Bulletin for the period 1975 – 2015. This study evaluates the impact of money supply on the growth of the Nigerian economy using annual data from 1976-2015. The findings albeit shows that money supply has no significance on economic growth in the short-run, while in the long-run money supply is negatively related to economic growth. However, money supply does have a negative impact on the growth of Real Gross Domestic Product (RGDP). The study further reveals that investment will impact on economic growth in the long-run, while labour impact on the economic growth of Nigeria both in the short and long-run.
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