Abstract
This study investigated the impact of money market on the economic growth in Nigeria, 1991- 2020. The ex-post facto research design was adopted for the study. The Gross domestic product (GDP) was used as proxy for economic growth while Treasury bills, Commercial papers (CP) and Bankers’ acceptances (BA) were used as proxy for the money market variables. Tests such as descriptive analysis, unit root, bounds test for cointegration, ARDL, serial correlation, heteroskedasticity and granger causality tests were conducted. The results revealed that there is a significant but positive impact of TB, CP, BA on the GDP. The study recommended that that the Monetary authority should initiate policies that would encourage Money market operations while CBN surveillance role should be proactive in order to check practices that could undermine or sabotage market integrity and soundness
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