This study argues that monetary targeting as a strategy of monetary policy is not effective in controlling inflation in Nigeria. Before arriving at this conclusion, an econometric model of the demand for money is specified and estimated using the techniques of Ordinary Least Square on an annual...

This paper investigates whether bank-lending behaviour can provide a convincing explanation for the effects of monetary policy on inflation over the period 1993-2009. This period was selected on account that it marks the beginning of indirect monetary policy regime in Nigeria. Applying the ADF...

This paper investigates whether bank-lending behaviour can provide a convincing explanation for the effects of monetary policy on inflation over the period 1993-2009. This period was selected on account that it marks the beginning of indirect monetary policy regime in Nigeria. Applying the ADF...