+234 813 0686 500
+234 809 3423 853
info@grossarchive.com

A Test of the Validity of Milton Friedman's Quantity Theory of Money, Using Nigeria Data

  • Type:Project
  • Pages:92
  • Format:Microsoft Word
(Economics Project Topics & Materials)

Abstract

This study test for the validity of Milton Friedman’s Quantity Theory of Money, using Nigeria Data. Variables tested against real money demand for Nigeria were real income, bonds, equities, stocks, wealth, and inflation rate. The study used annual time-series spanning 47 years, a sample period from 1970- 2016. Methodically, this study models a standard money demand function and employed the use of ADF - Fisher Chi-square and Phillips-Perron test statistic to test for the unit root, the Engle-Granger single-equation to test for the cointegration and using the Autoregressive Distributed Lag (ARDL) model to dilate the impacts of the explanatory variables on the explained variable and using Pairwise Granger Causality to test for the causal effect between real demand for money and wealth. Partially consistent with theoretical postulates, this study finds that money demand function is partially stable in Nigeria for the sample period and that income; return on stock and return on equity are the most significant determinants of the demand for money.  The study shows that real money demand positively responds to an increase in real income and wealth and negatively to a rise in the interest-bearing assets and inflation. It was also gathered that stock market variables can improve the performance of money demand function in Nigeria. The study recommended policies aimed at improving stock market activities and also, monetary targeting as a tool to boost aggregate demand and income.

A Test of the Validity of Milton Friedman's Quantity Theory of Money, Using Nigeria Data

Share This

Details

Type Project
Department Economics
Project ID ECO0667
Price ₦3,000 ($20)
No of Pages 92 Pages
Format Microsoft Word

500
Leave a comment...

    Details

    Type Project
    Department Economics
    Project ID ECO0667
    Price ₦3,000 ($20)
    No of Pages 92 Pages
    Format Microsoft Word

    Related Works

    Abstract This study test for the validity of Milton Friedman’s Quantity Theory of Money, using Nigeria Data. Variables tested against real money demand for Nigeria were real income, bonds, equities, stocks, wealth, and inflation rate . The study used annual time-series spanning 47 years, a sample period from 1970- 2016. Methodically, this study... Continue Reading
    CHAPTER ONE INTRODUCTION Background To The Study Test is la method that determines a student’s ability to complete certain tasks or demonstrate mastery of a skill or knowledge of content. Some types would be multiple... Continue Reading
    ABSTRACT This research work is concerned with the analysis of laboratory test results and its scientific importance. The study revealed that by analyzing the laboratory test results, the mortality rate can be reduced. From statistical observations obtained from World Health Organization, report, millions of people die from diseases like the... Continue Reading
    DESIGN AND IMPLEMENTATION OF A COMPUTERIZED BILL OF QUANTITY SYSTEM FOR QUANTITY SURVEYORS (A CASE STUDY OF OKOLO, OKOLO & CO.) ABSTRACT Quantity surveyors due to the essential services they render private and virtually to everyone as well as the indispensable position they occupy in this age of travel boon and shelter they cannot be left out... Continue Reading
    ABSTRACT Quantity surveyors due to the essential services they render private and virtually to everyone as well as the indispensable position they occupy in this age of travel boon and shelter they cannot be left out in this world of computerization. More so, when one talks of the huge capital that is involved in the establishment and running of... Continue Reading
    ABSTRACT Quantity surveyors due to the essential services they render private and virtually to everyone as well as the indispensable position they occupy in this age of travel boon and shelter they cannot be left out in this world of computerization. More so, when one talks of the huge capital that is involved in the establishment and running of... Continue Reading
    IN EDO CENTRAL SENATORIAL DISTRICT OF EDO STATE ABSTRACT This research was carried out to assess chemistry teachers’ knowledge of test construction procedures in chemistry objective test at senior secondary school level... Continue Reading
    AN ASSESSMENT OF TEACHERS' KNOWLEDGE OF TEST CONSTRUCTION PROCEDURE IN CHEMISTRY OBJECTIVE TEST IN SENIOR SECONDARY SCHOOLS Testing has always been an integral part of the educational system since its inception.  The concept (testing) can be viewed as a set of tasks presented to a person, the... Continue Reading
    ABSTRACT This project work intends to provide architecture for the technology in building of a standard, sophisticated and user-friendly data warehouse system which is platform independent and secured. The proposed work surely addressed the limitations identified within the scope of this project... Continue Reading
    DESIGN AND IMPLEMENTATION OF COMPUTERIZED INFORMATION MANAGEMENT SYSTEM IN SEISMIC DATA PROCESSING (A CASE STUDY OF INTEGRATED DATA SERVICES LIMITED, IDSL BENIN-CITY) ABSTRACT Oil industry is a prominent aspect of modern economy and as it were exploration activities are very important for continuity of oil production. The exploration activities... Continue Reading
    Call Us
    Get this work
    whatsappWhatsApp Us