This paper investigates the impact of money supply on economic growth in Nigeria between 1980 and 2006. Applying econometric technique-O.L.S.E, causality test and E.C.M to time series data, the results revealed thatalthough money supply is positively related to growth but the result is however insignificant in the case of GDPgrowth rates on the choice between contractionary and expansionary money supply.
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Ogunmuyiwa et al. (2010) studied this question.
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