Autonomous Generated Income of Three Levels of Government and Money Supply in a Democratic Administration: The Case Study of Nigeria

Cordelia Onyinyechi Omodero

Abstract


The study provides statistical proof of the influence of autonomous generated income of the three levels of government on money supply in the present day democratic administration in Nigeria. The study uses ex post facto research design and annual time series data ranging from 2000-2017. The data are obtained from CBN Statistical Bulletin 2017 edition and CBN Annual Reports and Ordinary Least Squares technique is employed to analyze them with Statistical Package for Social Sciences (SPSS) version 20. The findings reveal that Federal Government Independent Revenue (FGIR) and State government Independent Revenue (SGIR) impact on money supply positively and significantly while the Local Government Independent Revenue has insignificant positive impact on money supply. The policy implication of the results is that government revenue under the autonomous control of the three levels of government in Nigeria has a lot of influence on money circulating in the economy and therefore, stringent monetary policies should be applied to regulate it in order to prevent inflationary economic situation in the country.

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This work is licensed under Creative Commons Attribution 3.0 License.

Mediterranean Journal of Social Sciences ISSN 2039-9340(Print) ISSN 2039-2117(Online)

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