Adenike Omowuni Oladipo

Dr. Adenike Omowuni Oladipo


Research Focus & Metrics

Academic Career Length

4Years (2023-Present)

(Calculated once Scilit publication data is synced: current year − year of first publication + 1)

Representative Publications

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1 September 2023 in Journal of Central Banking Theory and Practice
Verified
Journal Article
Open access
PDF file
AIAreghan Isibor
Areghan Isibor
AOAlexander Ehimare Omankhanlen
Alexander Ehimare Omankhanlen
BEBenjamin Ehikioya
Benjamin Ehikioya
GOGodswill Osuma
Godswill Osuma
AOAdenike Omowuni Oladipo
Adenike Omowuni Oladipo
KAKikiyanu Ajalaadebowale
Kikiyanu Ajalaadebowale
The issue of achieving and sustaining a nation’s economic growth is an issue that is of concern to many nations of the world, especially the sub-Saharan African (SSA) nations. This was in line with the United Nations Sustainable Development Goal (SDG) 8 of Economic Growth. This study, therefore, examines how monetary policy tools can help the SSA governments achieve the SDG 8 goal and also sustain it. Relevant secondary data on sustained economic growth (GDPPC) (dependent variable) and interest rate, exchange rate, money supply, and inflation rate (independent variable) were gathered from the annual report of the Central Banks of the 48 SSA nations. The panel data year covers the period from 2016 to 2022. The unit root test confirms the variables to have a level integration order. The Hausman test suggests the use of fixed effect regression. The fixed effect regression shows that for the 48 SSA nations, interest rate, inflation rate, and money supply were positively significant in impacting GDPPC while exchange rate was negatively significant in impacting GDPPC. The study, therefore, recommends that import promotion, for example, should be avoided because it raises the exchange rate and lowers the value of currencies of the SSA nations.