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Effects of Fiscal and Monetary Policies on the Nigerian Manufacturering Sector

Author

Listed:
  • Agwu Sunday Okoro
  • Augustine Ujunwa
  • Ezike Ifeoma Betty
  • Ikenna Franklin Chijioke
  • Angela Ifeanyi Ukemenam

Abstract

This paper investigates the effect of monetary policies on the Nigerian manufacturing sector. The paper used anecdotal evidence to x-ray the suits of monetary policies initiated in order to promote a vibrant manufacturing sector in Nigeria. The evidence suggests that manufacturers in Nigeria are not maximizing the benefits of these policies. The paper therefore, identified opportunities the current Central Bank of Nigeria exchange rate policy provided for manufacturers, in terms of skill and technology transfer, patent rights and the domestication of foreign technology. The paper also charged the government to decentralize power generation. That is, legally empowering manufacturers to generate their electricity through micro-grids.JEL classification numbers: E2, E3, H3, H4Keywords: Monetary Policy, Fiscal Policy, Foreign Exchange Rate, Manufacturers.

Suggested Citation

  • Agwu Sunday Okoro & Augustine Ujunwa & Ezike Ifeoma Betty & Ikenna Franklin Chijioke & Angela Ifeanyi Ukemenam, 2017. "Effects of Fiscal and Monetary Policies on the Nigerian Manufacturering Sector," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 6(1), pages 1-1.
    • Handle: RePEc:spt:fininv:v:6:y:2017:i:1:f:6_1_1
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    References listed on IDEAS

    as
    1. Stephen G. Cecchetti, 1995. "Distinguishing theories of the monetary transmission mechanism," Proceedings, Federal Reserve Bank of St. Louis, issue May, pages 83-97.
    2. Frederic S. Mishkin, 1995. "Symposium on the Monetary Transmission Mechanism," Journal of Economic Perspectives, American Economic Association, vol. 9(4), pages 3-10, Fall.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Edem Effiong, Ubong & Justin Ukere, Idongesit & Polycarp Ekpe, John, 2024. "Fiscal policy, interest rate and the manufacturing sector performance in Nigeria," MPRA Paper 120679, University Library of Munich, Germany, revised 30 Mar 2024.

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    More about this item

    Keywords

    monetary policy; fiscal policy; foreign exchange rate; â manufacturers.;
    All these keywords.

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • H3 - Public Economics - - Fiscal Policies and Behavior of Economic Agents

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