Publication Title MONETARY POLICY AND ECONOMIC GROWTH IN NIGERIA Download PDF
Publication Type journal
Publisher Department of Banking & Finance , Faculty of Management Sciences, University of Benin, Benin City, Edo state, Nigeria.
Publication Authors Akpenyi ,Tosin David
Year Published 2022-02-02
Abstract Most Literatures have not clearly analysed certain key elements in the context of expansionary of monetary policy transmission mechanism .This study makes an empirical attempt on the influence of monetary policy(scheme) on the economic growth of Nigeria. The paper reviews related concepts, theories and empirical evidence from notable authors. We used time series for the secondary data retrieved from the Central Bank of Nigeria (CBN) statistical Bulletin and World Bank Development Indicators (1981-2020).Variables employed included ;Inflation, interest rate credit to private sector, money supply (m2), unemployment, household final consumption and imports of good and services as exogenous, while RGDP represented the endogenous variable. The study adopts an Augmented Dickey Fuller method where p-values of each variable exhibited stationarity (< 5>2) indicated presence of auto correlation and Breusch-Godfrey LM Test discloses serial correlation in the model with prob. chi-square of 0.002 (<5> 5% level of significance) found that the model for the study is best fit. Recommendations are based on setting up an organised goal oriented monetary policy committee to mitigate unemployment surges, reduce high interest and inflation rates, improve households welfare as well as curbing any negative trend in the economic growth of Nigeria.
Publication Title ASYMMETRIC INFORMATION IN THE INSURANCE MARKET OF NIGERIA Download PDF
Publication Type conference
Publisher Department of Banking & Finance , Faculty of Management Sciences, University of Benin, Benin City, Edo state, Nigeria.
Publication Authors Dr. Eseoghene, Joseph Idolor , Akpenyi ,Tosin David & Abode, Josephine Olohije.
Year Published 2020-12-12
Abstract The paper reviews two fundamental paradigms commonly linked with information asymmetry i.e. moral hazard and adverse selection, which has a substantial effect on activities in the insurance market. The study concentrates on concepts, empirical reviews guiding the phenomena behind asymmetry information (A.I.), with theories such as mechanism design theory, market efficiency theory, signaling theory, agency theory, information asymmetry theory which basically deals with inaccurate information, moral hazard risk and uncertainty as well as principal-agent problem. These focal points would articulate a framework for research purposes. Qualitative suggestions will be the main feature, with the objective of accelerating investment opportunities as a prerequisite to manacle demeaning constituents that threatens the growth and development of the insurance market in the Nigeria economy