The Impact Of Economic Policies On Business In The Private Sector (A Study Manufacturing Companies In Nigeria)

The Impact Of Economic Policies On Business In The Private Sector (A Study Manufacturing Companies In Nigeria)

ABSTRACT

This study investigated the effect of monetary and fiscal policy on unemployment rate in Nigeria. Data covering the period of 1986 to 2018 were sourced from Central Bank of Nigeria Statistical (2018) and National Bureau of Statistics.

Non-experimental research design was adopted, the design was preferable because the data for this study is secondary and historical data. The estimation of the effect of international trade on economic growth was conducted using the Ordinary Least Square procedure. Analysis of data collected was conducted using Augmented Dickey-Fuller unit root test, Bound Co-integration, Autoregressive Distributed Lag and Pairwise Granger Causality techniques. Based on the Augmented Dickey-Fuller unit root test, it was found government total expenditure and trade openness were stationary at level while manufacturing productivity, broad money supply, exchange rate and inflation rate were stationary at level.

The study revealed that: Monetary and fiscal policies played important and significant role in improving business sector performance. Monetary and fiscal policies have the capacity to influence business sector performance in the long run in Nigeria.

The study concluded that economic policies are effective in stimulating business sector performance in Nigeria. The study further recommends that: The current monetary policy should be sustained. The trade policy of the nation should be revisited and improved upon. Exchange rate should be stabilized.

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