International Journal of Economics, Finance and Multidisciplinary Development Studies

The International Journal of Economics, Finance and Multidisciplinary Development Studies (IJEFMDS) publishes peer-reviewed research advancing knowledge and practice in economics, finance, and multidisciplinary fields of development studies.

<b> </b><b>MODELING QUANTITATIVE EASING AND OUTPUT GROWTH IN NIGERIA</b> <b> </b> | International Journal of Agricultural and Food Systems Research

 MODELING QUANTITATIVE EASING AND OUTPUT GROWTH IN NIGERIA  

Shehu Ibrahim Alfa, Francis A Akawu, Prof. Joseph M Ibbih, Dr Danladi Augustine

✉ Corresponding author: sibrahim647@yahoo.com

Abstract

The study modeled quantitative easing (QE) on economic growth in Nigeria for the period 2000Q1-2023Q4. Due to globalization of financial systems, the 2008 financial and economic crises and the subsequent UMPs adopted by advanced economies flooded excess liquidity into developing economies, culminating in currencies depreciation, drops in exports and rising inflation, thus necessitating the use of QE.  The study adopts ex-post facto design and the VAR methodology to model QE and economic growth in Nigeria. The study relies on secondary data sourced from CBN on Ways and Means Advances (WMA), Central Bank Balance Sheet (CBS), Inflation rate (INF) and Anchor’s Borrowers Programmed Fund (ABPF) and their effects on economic growth were examined. The variables indicate no unit root at order one and were cointegrated with economic growth in the long run. The findings indicate that WMA and INF had negative effect on economic growth, while CBS and ABPF had positive effects on growth. The study recommends the expansion and channeling of credit schemes via QE programmed to productive sectors and efficient funds disbursement to stimulate output growth in the Nigerian economy. 

 

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📅 Published: October 30, 2025

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Citations: 15

How to Cite

APA style citation:
Ibrahim Alfa, S., A Akawu, F., M Ibbih, P. J., & Augustine, D. D. (2025).  MODELING QUANTITATIVE EASING AND OUTPUT GROWTH IN NIGERIA  . International Journal of Agricultural and Food Systems Research, 232 - 252.

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