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Abstract

The study examined the impact of Monetary and fiscal policy on Economic Development in some selected West African countries. Using Human Development Index to measure Economic Development, money supply to capture Monetary Policy, and Fiscal Policy was measured through government expenditure and government revenue. The data used were exacted from the World Bank indicators and the data collected were analyzed using correlation analysis, unit root test, and trend regression analyses. The results obtained revealed that there is a Positive significant relationship between Money supply and Economic Development. In addition, Fiscal policy measured by Government Expenditure showed a positive significant relationship with Economic Development., and Government Revenue revealed a positive relationship with Economic Development. The study recommended among others that government should increase its expenditures by increasing the money supply to the economy and appropriate measures should be put in place to control inflation in the country.

Keywords

Fiscal policy monetary policy economic development

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How to Cite
Olajide, O. S. ., & Shola, A. K. . (2023). Fiscal Policy, Monetary Policy and Economic Development in Selected Countries West Africa. Convergence Chronicles, 4(4), 110–129. https://doi.org/10.53075/Ijmsirq/8578965756449
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