International records / OpenAlex research

Institutional Factors and Headline Inflation in Nigeria

This study examined how institutional factors affect headline inflation in Nigeria between 1997 and 2023. The CBN’s monetary autonomy index and regulatory quality were used as institutional factors alongside the monetary policy rate, the broad money supply, and total government expenditure. The datasets for the variables were gathered from the CBN Statistical Bulletin, the National Bureau of Statistics, the World Bank, and the Chinn-Ito index, and analysed using descriptive statistics, pre-estimation tests (unit root and cointegration tests), and the least-squares estimation method. The findin…