THE EFFECTIVENESS OF MONETARY POLICY AS AN INSTRUMENT FOR ECONOMIC DEVELOPMENT
ABSTRACT
INTRODUCTION
The subject matter of this project work has something to do with the Effectiveness of Monetary Policy as an instrument of Economy Development.
It also entails the various policies adopted in an economy to realize the economic development for formulation and effective implementation of monetary policies.
The monetary policy in Nigeria is best – understood from the stance of the mandate set for the bank. Monetary was viewed in a narrow perspective and influencing aggregates spending via the regulation of interest rate, credit available and credit allocation.
The main instrument that will be used for data collection in this research work are personal observation, questionnaire and consultation of secondary materials.
This chapter of the project will introduce the research in question. It will also give an overview of the scope, purpose, significance of study, statement of problem, limitation of study and the definition of major terms that will be used in the study.
This chapter on the other hand which is the literature review will give the overview of the Effectiveness of monetary policy as an instrument of Economic Development. It will also highlight the role of Central Bank of Nigeria (CBN) and appraisal of its operation in influencing the various monetary policies.
It looks critically into the main items of the project work that is the procedure for collection and treatment of Research Question, sample and sampling techniques, constraints to data collection.
This chapter of the project is usually titled presentation and Analysis and interpretation of data and results. Here, there will be a summary data analysed in the previous chapters. Its comprises of interpretation of data and result of findings.
This is the last chapter, which will include the deductions, recommendations and conclusion. It will also offer a summary of the whole project, conclusion on the findings and recommendation for further improvement on the effectiveness of the monetary policies as an instrument of economic development.
CHAPTER ONE
1.0 INTRODUCTION
Economic managements and development of nation depend on the information, manipulation and implementation of the suitable economic policies.
The policies include monetary, fiscal and external sector. The various policies do not work in isolation but reinforce one another in realizing the economic development of any nation. The development of any economic resolved round the formulation and effective implementation of monetary policies.
The nature of monetary policy remain district and ill until recently for two reasons.
Monetary was reviewed in a narrow perspective and influencing aggregates spending via the regulation of interest rate, credit availability and credit allocation view on the role of money and monetary policies were dominated by the preventing perception of the growth process itself and the modern growth theory has not yet assigned a meaningful function to money.
The Central Bank of Nigeria (CBN) has defined monetary policy as the combinations of measured designed to regulate the value supply and cost of money in an economy in consonance with the level of economic activities.
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