Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/142057 
Erscheinungsjahr: 
2012
Quellenangabe: 
[Journal:] CBN Journal of Applied Statistics [ISSN:] 2476-8472 [Volume:] 03 [Issue:] 1 [Publisher:] The Central Bank of Nigeria [Place:] Abuja [Year:] 2012 [Pages:] 43-63
Verlag: 
The Central Bank of Nigeria, Abuja
Zusammenfassung: 
It is widely believed that price stability promote long-term economic growth, whereas high inflation is inimical to growth. This paper utilized a quarterly time series data for the period 1981 - 2009 to estimate a threshold level of inflation for Nigeria. Using a threshold regression model developed by Khan and Senhadji (2001), the study estimated a threshold inflation level of 13 per cent for Nigeria. Below the threshold level, inflation has a mild effect on economic activities, while above it, the magnitude of the negative effect of inflation on growth was high. The negative and significant relationship between inflation and economic growth for inflation rates both below and above the threshold level is robust with respect to changes in econometric methodology, additional explanatory variables and changes in data frequency. These finding are essential for monetary policy formulation as it provide a guide for the policy makers to choose an optimal target for inflation, which is consistent with long-term sustainable economic growth goals of the country.
Schlagwörter: 
Inflation
Growth
Threshold
JEL: 
E31
O40
Dokumentart: 
Article

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