Financial Structure, Bank Credit Channel and Monetary Policy

The book "Financial Structure, Bank Credit Channel and Monetary Policy" by Taiwo Peace Ogun provides a comprehensive analysis of the impact of monetary policy on bank lending in Nigeria. It examines the role of the bank credit channel in the context of financial sector deregulation and explores whether money or credit aggregates are the primary causes of variability in economic activities and prices in Nigeria. By utilizing secondary data from the Statistical Bulletin of the Central Bank of Nigeria and the International Financial Statistics of the IMF for the period from 1970 to 2003, both descriptive statistics and econometric techniques are employed. The findings indicate that while the Nigerian financial sector plays a significant role in the macroeconomy, it is underdeveloped in comparison to international standards. Additionally, it is noted that the bank credit channel is weak in the Nigerian economy, and the nominal exchange rate is the main source of variability in economic activities.