MONETARY TRANSMISSION MECHANISM IN NIGERIA (Additional Evidence).

The study examined the various the transmission channels of monetary policy impulses on economic growth in Nigeria. This was with a view to examining the relative eff ectiveness of the various channels in transmitting monetary policy impulses to real output for the period 1986 to 2009. Using the Vector Auto-regressive (VAR) method of analysis, the result showed that the bank credit channel was most eff ective in transmitting monetary policy to aggregate output in Nigeria. Other channels (interest rate, exchange rate and asset price) appeared weak in transmitting monetary policy impulses in Nigeria. The study concluded that bank credit channel is most eff ective in transmitting monetary policy in Nigeria. [ABSTRACT FROM AUTHOR]