THE IMPACT OF MONEY MARKET ACTIVITIES ON THE ECONOMIC GROWTH OF NIGERIA

Authors

  • TSINTOP Ussaini Danjuma Federal University, Wukari, Taraba State
  • BALA Tende Tende Federal University Wukari, Taraba State

Keywords:

Money market, Economic growth, Nigeria, GDP

Abstract

Globally nations are striving towards maintain a growing and stable economy through the activities of money market all with the aim to enhance the standard of living yet the achievement of the above desire seems to difficult especially with globalization. Therefore, this study examined the impact of money market activities on the economic growth of Nigeria 1981-2020. Data for the study were collected from national bureau of statistics and CBN statistical Bulletin; the data collected were subjected to regression analysis. The study revealed that the value of Treasury bill to GDP in Nigeria within the period under study shows a positive significant impact to the GDP. While value of commercial paper also shows significant impact to the GDP but does have significant effect on the economic growth and value of banker acceptance note also shows significant impact to the GDP. The study recommended that government and the monetary authorities should adopt policies and measures to improve and strengthen the development of the money market. In particular, two of the money market instruments used in this study (treasury bills and commercial papers) should be sustained as major instruments for national economic development through appropriate monetary policy measures.

Author Biographies

TSINTOP Ussaini Danjuma, Federal University, Wukari, Taraba State

Department Of Business Administration,
Federal university Wukari

BALA Tende Tende, Federal University Wukari, Taraba State

Department Of Business Administration
Federal University Wukari

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Published

2023-07-21

How to Cite

Danjuma, T. U., & Tende, B. T. (2023). THE IMPACT OF MONEY MARKET ACTIVITIES ON THE ECONOMIC GROWTH OF NIGERIA. FUW-International Journal of Management and Social Sciences, 8(2), 61–74. Retrieved from https://fuw-ijmss.com.ng/index.php/fijmss/article/view/48