期刊名称：Journal of Economics and Sustainable Development
印刷版ISSN：2222-2855
电子版ISSN：2222-2855
出版年度：2014
卷号：5
期号：23
页码：99-105
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：This study examines the impact of monetary policy variables on industrialization via import substitution strategy in Nigeria from 1981 – 2012. The deregulation of the foreign exchange market in Nigeria was with the aim of stimulating export and industrialization through import substitution. However, it turned out that Nigeria had become more import dependent than ever. We specified four explanatory variables for this study based on theoretical underpinnings. We sought to establish a relationship between the explanatory variables and industrial output. The Johansen trace test revealed that there was one cointegrating equation. The estimated error correction mechanism (ECM) revealed that 53 per cent of disequilibrium in industrial-GDP is corrected for in the long run.
