Publisher: Central Bank of Nigeria

The Relationships of Inflationary Trend, Agricultural Productivity and Economic Growth In Nigeria

Oyakhilomen Oyinbo, Grace Z. Rekwot
KEYWORDS: Inflation, Agriculture, Economic growth, Link

ABSTRACT:

This study investigates the links existing between inflationary trend, agricultural productivity and economic growth in Nigeria using time series data spanning from 1970 to 2011. The results of the analyses indicate a unidirectional causality from inflationary trend to agricultural productivity, unidirectional causality from agricultural productivity to economic growth with no causality between inflationary trend and economic growth. Based on these findings, it is recommended that the Central Bank of Nigeria should pay more attention to the trend of inflation and pursue policies that will ensure single digit inflation


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