Does Inflationary Dynamics Impact on Nigeria’s Economic Growth?
Background: High inflation rate is one of the economic problems facing Nigeria. As the government is unable to provide a long-term solution to this issue, inflation in the economy is inevitable. Objective: The study aimed at exploring the medium and longstanding interactions of inflationary dyna...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
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Department of Mass Communication, University of Nigeria
2023-04-01
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| Series: | Ianna Journal of Interdisciplinary Studies |
| Subjects: | |
| Online Access: | http://www.iannajournalofinterdisciplinarystudies.com/index.php/1/article/view/103 |
| _version_ | 1797633041799053312 |
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| author | Paul Abdullahi Hassan Adetokun Akeem Ibrahim Ndatsu Ato Abdulkamaru Salawu |
| author_facet | Paul Abdullahi Hassan Adetokun Akeem Ibrahim Ndatsu Ato Abdulkamaru Salawu |
| author_sort | Paul Abdullahi Hassan |
| collection | DOAJ |
| description |
Background: High inflation rate is one of the economic problems facing Nigeria. As the government is unable to provide a long-term solution to this issue, inflation in the economy is inevitable.
Objective: The study aimed at exploring the medium and longstanding interactions of inflationary dynamics on Nigeria’s economic growth speed.
Methodology: Autoregressive Distribution Lag (ARDL) bound estimation procedure was utilised in the study. The researchers used the Augmented Dickey-fuller test (ADF) for the stationarity test on the variables.
Result: The study found that inflation has a detrimental long-term and short-term influence on Nigeria’s economic growth. This demonstrates that when inflation is excessively high, an economy's currency loses buying power as a result of an increase in prices.
Unique Contribution to Knowledge: The study has demonstrated the link between inflation and Nigeria’s economic growth.
Conclusion: The study concluded that inflation has a severe consequence on the Nigerian economy both in medium and longstanding periods.
Recommendations: Giving the study’s findings, the study recommended stringent monetary policy.
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| first_indexed | 2024-03-11T11:48:31Z |
| format | Article |
| id | doaj.art-16539cd114fb44ca99ea10722aecd723 |
| institution | Directory Open Access Journal |
| issn | 2735-9883 2735-9891 |
| language | English |
| last_indexed | 2024-03-11T11:48:31Z |
| publishDate | 2023-04-01 |
| publisher | Department of Mass Communication, University of Nigeria |
| record_format | Article |
| series | Ianna Journal of Interdisciplinary Studies |
| spelling | doaj.art-16539cd114fb44ca99ea10722aecd7232023-11-09T11:04:05ZengDepartment of Mass Communication, University of NigeriaIanna Journal of Interdisciplinary Studies2735-98832735-98912023-04-0151Does Inflationary Dynamics Impact on Nigeria’s Economic Growth? Paul Abdullahi Hassan Adetokun Akeem Ibrahim Ndatsu Ato Abdulkamaru Salawu Background: High inflation rate is one of the economic problems facing Nigeria. As the government is unable to provide a long-term solution to this issue, inflation in the economy is inevitable. Objective: The study aimed at exploring the medium and longstanding interactions of inflationary dynamics on Nigeria’s economic growth speed. Methodology: Autoregressive Distribution Lag (ARDL) bound estimation procedure was utilised in the study. The researchers used the Augmented Dickey-fuller test (ADF) for the stationarity test on the variables. Result: The study found that inflation has a detrimental long-term and short-term influence on Nigeria’s economic growth. This demonstrates that when inflation is excessively high, an economy's currency loses buying power as a result of an increase in prices. Unique Contribution to Knowledge: The study has demonstrated the link between inflation and Nigeria’s economic growth. Conclusion: The study concluded that inflation has a severe consequence on the Nigerian economy both in medium and longstanding periods. Recommendations: Giving the study’s findings, the study recommended stringent monetary policy. http://www.iannajournalofinterdisciplinarystudies.com/index.php/1/article/view/103InflationExchange rateInterest rate |
| spellingShingle | Paul Abdullahi Hassan Adetokun Akeem Ibrahim Ndatsu Ato Abdulkamaru Salawu Does Inflationary Dynamics Impact on Nigeria’s Economic Growth? Ianna Journal of Interdisciplinary Studies Inflation Exchange rate Interest rate |
| title | Does Inflationary Dynamics Impact on Nigeria’s Economic Growth? |
| title_full | Does Inflationary Dynamics Impact on Nigeria’s Economic Growth? |
| title_fullStr | Does Inflationary Dynamics Impact on Nigeria’s Economic Growth? |
| title_full_unstemmed | Does Inflationary Dynamics Impact on Nigeria’s Economic Growth? |
| title_short | Does Inflationary Dynamics Impact on Nigeria’s Economic Growth? |
| title_sort | does inflationary dynamics impact on nigeria s economic growth |
| topic | Inflation Exchange rate Interest rate |
| url | http://www.iannajournalofinterdisciplinarystudies.com/index.php/1/article/view/103 |
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