Cause Effect Solution Of Inflation In Nigeria is a complete project materials for download in Msword or PDF.
PREFACE
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Having looked at the present trend in the Nigerian economy it is very obvious that price of items has continued to raise especially food related items.
A special reference will be on the impact of inflation in income and wealth distribution of the nation (A case study of Enugu state)
The work is divided into five chapters one focused on the introduction and definition of the problem presented by the study chapter two dwelt on the review of related literature.
Chapter three is all about research design and methodology formed of the research work.
Chapter analysis of data as well as testing of hypothesis while the summary of findings, recommendations and conclusion were death with in chapter five
TABLE OF CONTENTS
Title page
Approval
Dedication.
Acknowledgment
Preface.
Table contents
CHAPTER ONE
INTRODUCTION
1.0Â Background of study.
1.1Â Statements of problem.
Objective of the study.
Significance of the study
Hypotheses
Scope and limitation of the study
CHAPTER TWO
Review of literature
Meaning of inflation
Types/causes of inflation
Peryas, Veness of inflation
Brief history on world inflation
Brief history on Nigeria inflation
Inflation and economic development
Effects of inflation on savings
Effects of inflation on exports
Effect of inflation on import.
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
Source of data
3.1Â Secondary of data
Questionnaire design
Sample size determination
Methods of investigation
Method of questionnaire distribution
CHAPTER FOUR
4.0Â PRESENTATION AND ANALYSIS OF DATA
CHAPTER FIVE
5.0Â Summary of findings recommendations, conclusions and areas of further research
Summary of findings
Recommendations
Conclusions
Areas of further research.
CHAPTER ONE
INTRODUCTION
1.1Â BACKGROUND OF STUDY
Every country in the world aim at achieving economic growth and development. This is only possible if a country has adequate sources. In developing countries especially those in sub-Saharan Africa. The resources to finance the optimal level of economic growth and development are in short supply.
Inflation, economic growth and interest rate concepts that are central and interrelated in Macro economic. A proper understanding of these concepts is therefore very necessary in order to get a good grasp of how inflation and interest rate has effected growth in Nigeria over the past eleven years. Is from this view that gives what have been expressed by various people to the theoretical and empirical relationship that has been estimated between them.
Inflation is said o occur when the general level of prices rises rapidly and persistently over a givebn period of time. This is undesirable to the public and policy makers. From this of view of the public inflation causes uncertainty about future prices.
This effect decisions on expenditure, savings, investment and misallocation of resources. It also allows substantial in distributions of income and wealth from savers to borrowers. To policy makers, inflation hampers economic growth and development as it discourages investment and savings.
These factors explain why policy makers put in lots of efforts to reduce inflation and why several authors focus attention on this issue. Inflation is now one of the intractable problems facing the Nigeria economy.
Having registered low rates of inflation in years immediately after independence. The country experience double digit in 1960. this was as a result of the civil war. The next period of high inflation was (1974- 1979), when the wage freeze was discontinued as recommended by Udoji salary review commission.
Reduction of the high inflationary pressure is considered one of the most critical Macro- economic objectives in Nigeria. A number of approached to the explanation of the phenomenon of inflation have been suggested and tested in the economic literature. Thus such concept of inflation has been suggested in the economic literature.
Thus such concept of inflation has been popularized including Demand Pull inflation which occurs when aggregated demand rises faster than aggregated supply another form of inflation is cost push which occurs when price increase, its originated from supply side of economy either through profit push or wages push resulting from trade union action. For structural inflation, it seeks to explain the long term tendency of prices especially in the industrialized western countries.
There do also exist monetarists. It explains and observes inflation rate in different countries to respective growth rate of money supply. Inflation can be transmitted from one country to another, this is usually referred to as imported inflation and occurs when a country engages in international trade. Inflation has various effect on the economy as a whole of which economic growth and interest rate are of great important. These three variables are interrelated. There are many indicators of economic growth, for the purpose of this research study.
Finally, the relationship between inflation, interest and economic growth will be fully examined. It should be noted that interest rate are to help in mobilization of financial resources and to the promoting or promotion of economic growth and development. Interest rates effect the level of consumption on the hand, it is one of the major tools of monetary policy. It was regulated and controlled by the central bank of Nigeria.
The direct and magnitude of changes in market interest rate are of primary importance to economic agents and policy makers. Economic growth is an increase in the average rate of output produced per person, usually measured on per annum basis. Interest rates are the rental payment for the use of credit by borrowers ad return payment with liquidity by lenders.
Inflation is neither new in the economic system of Nigeria nor the world at large. Variations in magnitude or rates have been noticed to be in existence.
In Nigeria the rate of inflation was about 10 percent between 1969 and 1970. Prices rose by about 14 percent in 1970 (immediately after the civil war of 1970). Then fell to 3 percent in 1972. Rose by about 16.1 percent in 1974 and reached a rate of about 34 percent increase in 1975.
In the 80’s, the rate of inflation between 1908 and1982 was around 30 percent with the rest of the 80’s at the rate of 40% averagely.
The 90’s were at the rate of 40 to 50% between 1990 to 1992 and then 1994 rate was officially put at above 60 percent. Inflation was and is still the greatest task to government’s policymakers in the 1990’s.
In the world, between 1979-1801, prices rose by more then 50 percent. Also between 1939-1941, the prices level was record to be almost what it was before.
The height of Herry V111’s debasement in England (through the mint reducing the weight of remitted coins, lowering their gold and silver content, and increasing the normal value of existing coins by assigning them higher values as well as melting down plate and ornament taken from the ransacked monasteries), and prices between many 1542 and mid 1551, had an inflationary rate of 16 percent per annum 23 percent during war with France and almost 30 percent during the first world war. This is about the highest rate attained in the world history.
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