Economic and Financial Review


Central Bank of Nigeria


Monetary Policy, Economic Growth, Inflation Rate, Domestic Output, Monetary Policy Framework, Monetary Transmission Mechanism, Monetary Control, Nigeria


This article seeks to address the relationship between monetary policy and economic growth by enunciating the conceptual and theoretical issues that relate to monetary policy and economic growth. The paper is divided into five sections. Following the introduction in section 1, section 2 discusses the objectives of monetary policy. The monetary transmission mechanisms are schematically explained in section 3. Section 4 reviews the performance assessment of monetary policy and its framework in Nigeria. The constraints of monetary policy management in Nigeria are espoused in section 5. The final section concludes the paper.

Author Bio

Dr Omotor is a lecturer with the Department of Economics, Delta State University, Abraka, Nigeria.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Omotor, D. G. (2007). Monetary Policy and Economic Growth: Theoretical and Conceptual Issues. CBN Economic and Financial Review. 45(4), 39-67.

Included in

Economics Commons



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