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Monetary policy management implications on the movement of agricultural prices in Nigeria

机译:货币政策管理对尼日利亚农产品价格变动的影响

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Price instability is the most serious problem in Nigerian agricultural sector today. Money supply and exchange rate are some perceived factors causing instability in agricultural prices. This study evaluated the long-run neutrality of money supply on agricultural prices; the effect of money supply on agricultural prices; and effect of key macroeconomic indicators on agricultural prices in Nigeria. Using least square estimation, it was observed that money supply had significant impact on agricultural prices and that agricultural prices do not react more sensitively than aggregate price to changes in money supply. Money supply and exchange rate also accounts for 86.2% of variations in agricultural prices. Based on results obtained, it is recommended that the Central Bank of Nigeria should formulate monetary policy that would enhance stability in agricultural prices and also cause a reduction in the level of inflation in the economy.
机译:价格不稳是当今尼日利亚农业部门最严重的问题。货币供应和汇率是导致农产品价格不稳定的一些可感知因素。这项研究评估了货币供应对农产品价格的长期中立性。货币供应对农产品价格的影响;主要宏观经济指标对尼日利亚农产品价格的影响。使用最小二乘估计法,人们发现货币供应量对农产品价格具有重大影响,并且农产品价格对货币供应量的变化的反应并不比总价敏感。货币供应和汇率也占农产品价格变动的86.2%。根据获得的结果,建议尼日利亚中央银行制定货币政策,以增强农产品价格的稳定性,并降低经济中的通货膨胀水平。

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