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/Subject (There has been controversy over the submission on the fisher hypothesis; that there must be a one-to-one relationship between interest rate and inflation. Perhaps, several methods have been used to establish the theoretical framework of the fisher effect, but full fishers effect results was not actualized in Nigeria. On this basis, the study re-examine the fisher effects in Nigeria considering the scope between 1986 2011\( post-SAP era\).The newly developed Autoregressive Distributed Lags \(ARDL\) model to cointegration was employed to investigate the existence of a long run relation among the series, and also the existence of fisher effect. The study reveals a partial fisher effect for the post-SAP era in Nigeria; a negative relation between interest rate and consumer price index while there exist a positive relation with broad money supply. There exist a long run cointegration among interest rate, money supply and consumer price index a proxied as inflation\r\n)
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Adegboyega Soliu B, Odusanya Ibrahim A, Popoola, R.O
Fisher effect
Money supply
Interest rate
Consumer price Index
ARDL
Nigeria
There has been controversy over the submission on the fisher hypothesis; that there must be a one-to-one relationship between interest rate and inflation. Perhaps, several methods have been used to establish the theoretical framework of the fisher effect, but full fishers effect results was not actualized in Nigeria. On this basis, the study re-examine the fisher effects in Nigeria considering the scope between 1986 – 2011( post-SAP era).The newly developed Autoregressive Distributed Lags (ARDL) model to cointegration was employed to investigate the existence of a long run relation among the series, and also the existence of fisher effect. The study reveals a partial fisher effect for the post-SAP era in Nigeria; a negative relation between interest rate and consumer price index while there exist a positive relation with broad money supply. There exist a long run cointegration among interest rate, money supply and consumer price index a proxied as inflation
Fisher’s Effect in Nigeria: Empirical Analysis Using ARDL (Bound Test) Approach
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