首页    期刊浏览 2025年06月10日 星期二
登录注册

文章基本信息

  • 标题:On the stability of the money multiplier in Nigeria: Co-integration analyses with regime shifts in banking system liquidity
  • 本地全文:下载
  • 作者:K. Moses Tule ; O. Taiwo Ajilore ; Mariam Camarero
  • 期刊名称:Cogent Economics & Finance
  • 电子版ISSN:2332-2039
  • 出版年度:2016
  • 卷号:4
  • 期号:1
  • 页码:1187780
  • DOI:10.1080/23322039.2016.1187780
  • 语种:English
  • 出版社:Taylor and Francis Ltd
  • 摘要:Abstract The study hypothesized the existence of regime shifts in the conduct of monetary policy, occasioned by changing liquidity conditions in the domestic banking system in Nigeria. Within the context of this prognosis, the study tests the stability of the money multiplier, utilizing methodological procedures that allow for the explicit consideration of regime shift bias in the specification of the model and the empirical estimation. The study found the existence of a stable long run relationship between broad money and the monetary base, confirming that the necessary condition for monetary control within a multiplier frame work is satisfied for Nigeria. Also, the spate of quantitative easing by the Central Bank of Nigeria to ameliorate adverse liquidity conditions and the lingering effects of the global financial crises occasioned a structural break in monetary policy, determined endogenously to have occurred in November 2009.
  • 关键词:money multiplier ; banks liquidity ; regime shifts
国家哲学社会科学文献中心版权所有