An Assessment of the Effects of Interest Rate Deregulation in Enhancing Agricultural Productivity in Nigeria

Abstract

The study shows by means of robust statistical analysis, the changes in Agricultural production since the deregulation of interest rate in 1986. Using ordinary least square method, data from 1986 to 2005 were examined. The empirical analysis carried out showed that interest rate deregulation has significant and positive impact on Agricultural productivity in Nigeria within the period under review. The empirical analysis also suggest that interest rate play a significant role in enhancing economic activities and as such, monetary authorities should ensure appropriate determination of interest rate level that will break the double-edge effect of interest rate on savers and local investors.

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