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Monetary Policy Shocks and Industrial Output in Nigeria: A Dynamic Effect

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  • Olanrewaju, Akanbi Michael
  • Temitope, Dada James

Abstract

The study examines the dynamic effect of positive and negative monetary policy shocks on industrial output in Nigeria. Quarterly secondary data covering the period from 1986 to 2015 were used for the study. Applying Autoregressive Distributed Lag (ARDL), the results shows that both negative monetary policy shocks and positive monetary policy shocks have negative effect on industrial output in Nigeria both in the short run and in the long run. The study recommend that monetary policy should the used with caution in Nigeria.

Suggested Citation

  • Olanrewaju, Akanbi Michael & Temitope, Dada James, 2018. "Monetary Policy Shocks and Industrial Output in Nigeria: A Dynamic Effect," African Journal of Economic Review, African Journal of Economic Review, vol. 6(1), January.
    • Handle: RePEc:ags:afjecr:274744
    DOI: 10.22004/ag.econ.274744
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    References listed on IDEAS

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    Cited by:

    1. Folorunsho Monsuru Ajide & James Temitope Dada & Johnson Kolawole Olowookere, 2022. "Shadow economy and foreign direct investment in Nigerian manufacturing industry," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 23(2), pages 156-180.

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