The Effect of Macro Economic Policy on Nigerian Economics Growth and Development

6051 Words Dec 21st, 2010 25 Pages
THE EFFECT OF MACRO ECONOMIC POLICY ON NIGERIAN ECONOMICS GROWTH AND DEVELOPMENT

ABSTRACT

This research work focus on the appraisal of Macroeconomic Policy on Inflation in Nigerian Economy, also to determine how it enhances the growth of Nigerian Economy.
The aim of this research work is to look into challenges and numbers of hypothesis were drawn. Information necessary to address the test of hypothesis was gathered through secondary data, source from Central Bank of Nigeria (CBN).
Economic analysis was used to formulate the three (3) models that were stated in this research work. Multiple regressions were also used to test the appraisal of Macroeconomic Policy on Inflation in Nigerian Economy.

The findings of this research show that
…show more content…
Although, there two policies are independent tools of economics stabilization, they are often combined by most countries for a greater effect on the economy.

Monetary and Fiscal policies as adopted in Nigeria have four broad objectives. The objectives include:¬
• Maintenance of relative stability in domestic price
• Attainment of a high and sustainable rate of economic development
• Maintenance of balance of payment equilibrium growth and stability are so closely related that the economic policy o the government should include both of them.
Economic growth may be judges from the growth it total output of the economy as measured by annual increases in net national prod, ct in constant price. Such a measure tells us how much bigger the total economy is becoming over a period of time, but it tells nothing about changes in the standard of living of the people in the economy.

The more significant measures in the growth in real net national product divided by the number of people in the population. There are many targets of economic growth and development. They include.
• Income distribution Gross national product Sectoral development (such as agriculture industries etc)
• The pressure to attain economic stability or our economic is so strong that measures to promote federal government

More about The Effect of Macro Economic Policy on Nigerian Economics Growth and Development