Authors : H.A. Adefeso and H.I. Mobolaji
Abstract: The objective of this study was to re-estimate and re-examine the relative effectiveness of fiscal and monetary policy on economic growth in Nigeria using annual data from 1970-2007. The Error Correction Mechanism and Cointegration technique were employed to analyze the data and draw policy inferences. The findings were consistent with previous empirical findings. The empirical result showed that the effect of monetary policy is much more stronger than fiscal policy and the exclusion of the degree of openness did not weak this conclusion. The implication of this for the policy maker is that there should be more emphasis and reliance on monetary policy for the purpose economic stabilization in Nigeria.
H.A. Adefeso and H.I. Mobolaji, 2010. The Fiscal-Monetary Policy and Economic Growth in Nigeria: Further Empirical Evidence. Pakistan Journal of Social Sciences, 7: 137-142.