The thwack of macroeconomic policy on Agricultural growth
Factual Evince from Nigeria 1981-2016
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This study was carried out to analyse the impact of fiscal and monetary policy instruments on agricultural growth in Nigeria for a period of twenty five years. Data were collected from secondary sources, analysed using descriptive statistics, quadratic growth model, Autoregressive Distributed Lag (ARDL) and Monte Carlo Simulation. The result showed acceleration in money supply, public expenditures and exchange rate, stagnation in public debt and agric output and deceleration in interest rate. The result of analysis of macroeconomic policy instruments found Monetary policy to be the main driver...
This study was carried out to analyse the impact of fiscal and monetary policy instruments on agricultural growth in Nigeria for a period of twenty five years. Data were collected from secondary sources, analysed using descriptive statistics, quadratic growth model, Autoregressive Distributed Lag (ARDL) and Monte Carlo Simulation. The result showed acceleration in money supply, public expenditures and exchange rate, stagnation in public debt and agric output and deceleration in interest rate. The result of analysis of macroeconomic policy instruments found Monetary policy to be the main driver of agricultural growth hence, attention should be paid to fiscal policy so that it functions properly to further contribute to growth in the agricultural sector.
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