Article ID: | iaor20141315 |
Volume: | 35 |
Issue: | 6 |
Start Page Number: | 978 |
End Page Number: | 991 |
Publication Date: | Nov 2013 |
Journal: | Journal of Policy Modeling |
Authors: | Kumar Saten, Webber Don J, Fargher Scott |
Keywords: | finance & banking |
Monetary policy in Nigeria aims is to achieve price and monetary stability. During the 1980s and 1990s, monetary targeting was the dominant monetary policy framework in Nigeria. However, in 2006 the Central Bank of Nigeria (CBN) adopted the new monetary policy framework through which short‐term interest rates are adjusted to achieve stability in the value of the domestic currency. This paper has presented an empirical investigation into the demand for Nigerian real narrow money (