Macroeconomic Policies, Industrialization and Economic Growth in Nigeria

Authors

  • Clement Atewe Ighodaro University of Benin
  • Vincent O. Ajayi-Ojo University of Benin

DOI:

https://doi.org/10.56279/ter.v9i1.38

Keywords:

economic growth, government expenditure, industrialization, macroeconomic policies, money supply

Abstract

This paper employed the simultaneous equation model using the three-stage least squares technique to analyse the impact of money supply, government expenditure and exchange rate on industrial output; and the effect of industrial output on economic
growth in Nigeria. The study used annual data covering 1981 to 2017. It was found that industrial output affects economic growth positively in Nigeria, just as exchange rate has a positive significant impact on industrial output. The study recommends that fiscal policies should be formulated with a clear-cut view to addressing the industrial needs of the country.

Keywords: economic growth, government expenditure, industrialization,
macroeconomic policies, money supply

Downloads

Download data is not yet available.

Author Biographies

Clement Atewe Ighodaro, University of Benin

Department of Economics, Faculty of Social Sciences, University of Benin, Ugbowo Campus, Benin
City, Edo State, Nigeria

Email:clemigho2006@yahoo.com; Clement.ighodaro@uniben.edu

Vincent O. Ajayi-Ojo, University of Benin

Graduate Student, Department of Economics, Faculty of Social Sciences, University of Benin, Benin
City

Downloads

Published

2019-06-30

How to Cite

Ighodaro, C., & Ajayi-Ojo, A.-O. (2019). Macroeconomic Policies, Industrialization and Economic Growth in Nigeria. Tanzanian Economic Review, 9(1), 1–14. https://doi.org/10.56279/ter.v9i1.38

Issue

Vol. 9 No. 1 (2019): Tanzanian Economic Review

Section

Articles

License

Authors who publish in the Tanzania Economic Review retain the copyright to their work and grant the University of Dar es Salaam a non-exclusive license to publish, reproduce, and distribute the article.

this article is published under the Creative Commons Attribution 4.0 International (CC BY 4.0) License, which permits unrestricted use, distribution, adaptation, and reproduction in any medium, provided the original work is properly cited.