Money supply mechanisms in Nigeria

O. Ogun, A. Adenikinju
{"title":"Money supply mechanisms in Nigeria","authors":"O. Ogun, A. Adenikinju","doi":"10.4314/AJEP.V11I2.24254","DOIUrl":null,"url":null,"abstract":"This study investigates the process of money supply mechanism in Nigeria in order to provide an explanation for the inflationary acceleration in money supply that occurred in the period 1970 to 1989. The initial double-digit inflation was found to have originated from the rapid growth in the external sector as a result of the oil export boom of the 1970s. The monetary authorities largely monetized the export receipts in order to finance a greater level of economic activities. The government then followed the monetization policy with a real bills doctrine, the success of which was ensured by the generous lending stance of central bank. African Journal of Economic Policy Vol. 11(2) 2004: 49-72","PeriodicalId":162902,"journal":{"name":"African Journal of Economic Policy","volume":"104 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2006-07-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"African Journal of Economic Policy","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.4314/AJEP.V11I2.24254","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 2

Abstract

This study investigates the process of money supply mechanism in Nigeria in order to provide an explanation for the inflationary acceleration in money supply that occurred in the period 1970 to 1989. The initial double-digit inflation was found to have originated from the rapid growth in the external sector as a result of the oil export boom of the 1970s. The monetary authorities largely monetized the export receipts in order to finance a greater level of economic activities. The government then followed the monetization policy with a real bills doctrine, the success of which was ensured by the generous lending stance of central bank. African Journal of Economic Policy Vol. 11(2) 2004: 49-72
尼日利亚的货币供应机制
本研究考察了尼日利亚货币供给机制的过程,以解释1970年至1989年期间货币供给的通货膨胀加速。人们发现,最初两位数的通胀率源于上世纪70年代石油出口繁荣导致的对外经济快速增长。货币当局在很大程度上将出口收入货币化,以便为更大规模的经济活动提供资金。随后,政府以实物票据原则遵循货币化政策,央行慷慨的贷款立场确保了这一政策的成功。《经济研究》Vol. 11(2) 2004: 49-72
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
自引率
0.00%
发文量
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:604180095
Book学术官方微信