ABSTRACT
The project titled “The Impact of Monetary Policy on Agricultural Growth in Nigeria between 1981 to 2009”. The main objectives of the study were to examine the impact of monetary policy on agricultural growth in Nigeria. Also to examine the relationship between monetary policy and agricultural growth in Nigeria. In analyzing the study, the researcher formulated null hypothesis (H0) stating that monetary policy has no significance impact on the agricultural sector growth in Nigeria. By estimating this study, the researcher adopted econometrics by applying Ordinary Least Squares (OLS) techniques. It was found out that monetary policy has significance impact on the agricultural sector growth in Nigeria. Hence, null hypothesis (Ho) was rejected and the alternative hypothesis (Hi) was accepted. The researcher therefore concluded that monetary policy is a significant policy measures in stimulating agricultural productivity in Nigeria. The researcher hereby recommends that the volume of credit and subsidies disburse to agricultural sector should be increased. Effort should be made to ensure that majority of farmers should be made to have cheap access to capital by relaxing the collateral charged by financial institutions to them.
TABLE OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgment iv
Abstract v
Table of content vi
CHAPTER ONE
INTRODUCTION
1.1 Background of the Study 1
1.2 Statement of the Problem 5
1.3 Objectives of the Study 6
1.4 Hypothesis of the Study 7
1.5 Significant of the Study 7
1.6 Scope and Limitations of the Study 8
CHAPTER TWO
REVIEW OF THE RELATED LITERATURE
2.1 Theoretical Literature 9
2.1.1 Meaning of Monetary Policy 9
2.1.2 Conceptual Frame work of the Study 11
2.1.3 Reasons for Government policies The Financing
of Agricultural 15
2.1.4 Overviews of the Government Monetary
or Financial Policies in Nigeria. 19
2.1.5 Contributor of Agricultural to Economic
Growth in Nigeria 26
2.1.6 Problem of Agricultural Development in
Nigeria 30
2.2 Empirical Literature 32
2.3 Limitation of the Previous Studies 36
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 Research Methodology 38
3.2 Model Specification 39
3.3 Method of Evaluation 40
3.4 Data Required and Sources 43
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS OF RESULT
4.1 The Empirical Results 45
4.2 Result of The Statistical Test Of Significance 46
4.3 Evaluation of the Working Hypothesis 49
4.4 Result of the Econometrics Test
(Second Order Test) 50
4.5 Implication of the Results 51
CHAPTER FIVE
SUMMARY OF FINDINGS, CONCLUSION
AND RECOMMENDATIONS
5.1 Summary of findings 52
5.2 Conclusion 53
5.3 Recommendations 54
References 56
Appendix