{"id":157,"date":"2024-08-23T21:11:31","date_gmt":"2024-08-23T21:11:31","guid":{"rendered":"https:\/\/ijeti.uniben.edu\/?p=157"},"modified":"2024-08-23T21:11:31","modified_gmt":"2024-08-23T21:11:31","slug":"effectiveness-of-monetary-policy-and-entrepreneurship-development-in-nigeria","status":"publish","type":"post","link":"https:\/\/ijeti.uniben.edu\/index.php\/2024\/08\/23\/effectiveness-of-monetary-policy-and-entrepreneurship-development-in-nigeria\/","title":{"rendered":"EFFECTIVENESS OF MONETARY POLICY AND ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>ABUBAKAR MOHAMMED MAGAJI PhD<\/strong><strong><sup><strong><sup>1<\/sup><\/strong><\/sup><\/strong><strong>&nbsp;KABIR IBRAHIM<\/strong><strong><sup><strong><sup>2<\/sup><\/strong><\/sup><\/strong><strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><sup>1&amp;2<\/sup>Department of Business Administration and Management Studies<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Abstract<\/em><\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Over the years, the Central Bank of Nigeria has made various efforts to influence the economy&#8217;s overall performance. This paper attempts to appraise the monetary policy regimes in Nigeria. The country witnesses the abolition of the direct control regime by introducing an indirect monetary policy. The new policy relied on intermediate targets of monetary policy. This is assumed to be a tool that will extend the frontier of growth and development. The selected macroeconomic variables used are minimum rediscount rate (MRR), monetary policy rate (MPR), Output, inflation (INF), interest rate (IR) and money supply (M1 &amp;M2). The result of impulse response functions is more effective in the post CBN independence period. <\/em><em>The study employed a Quantitative research design, and the population covered the Nigerian data on monetary policy rates from 1986 to 2018. The data is collected from the CBN statistical bulletin via its website, <\/em><a href=\"http:\/\/www.cenbank.org\"><em><u>www.cenbank.org<\/u><\/em><\/a><em>. The study also adopts the Taylor rule (1993) to analyse the reaction function of central banks. In estimating the empirical result, the researchers conducted (ADF and PP) statistics for the unit root test. The test was conducted to obtain a more reliable result. The test shows that all the variables are stationary at first difference. The researchers also employed the <\/em><em>VAR Model<\/em><em>) in order to determine the relationship between monetary policy and macroeconomic variables; the result shows that during the pre-independent period, monetary policy was less effective, but during the CBN independence policy, it was highly influential on entrepreneurs&#8217; and the real sector, the result reveals macroeconomic variables impact primarily in the real sector in the short run, while in the long run, they return to their long-run trend. <\/em><em><\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Keywords: <\/strong>monetary policy, Entrepreneurship, Entrepreneurial Competencies, VAR Model (ADF) and (PP) models,<\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/ijeti.uniben.edu\/wp-content\/uploads\/2024\/08\/INTERNATIONAL-JOURNAL-OF-ENTREPRENEURSHIP-IJETI-VOL.1-NO.1-JUNE-2024_060227-81-101.pdf\">Download Article<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>ABUBAKAR MOHAMMED MAGAJI PhD1&nbsp;KABIR IBRAHIM2 1&amp;2Department of Business Administration and Management Studies Abstract Over the years, the Central Bank of Nigeria has made various efforts to influence the economy&#8217;s overall performance. This paper attempts to appraise the monetary policy regimes in Nigeria. The country witnesses the abolition of the direct control regime by introducing an [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-157","post","type-post","status-publish","format-standard","hentry","category-vol-1-issue-1-june-2024"],"_links":{"self":[{"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/posts\/157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/comments?post=157"}],"version-history":[{"count":1,"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/posts\/157\/revisions"}],"predecessor-version":[{"id":158,"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/posts\/157\/revisions\/158"}],"wp:attachment":[{"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/media?parent=157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/categories?post=157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ijeti.uniben.edu\/index.php\/wp-json\/wp\/v2\/tags?post=157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}