This empirical study investigates the dynamic relationship between interest rates and external reserves in Nigeria. The interest rate, a critical monetary policy tool, is examined in conjunction with external reserves, a key indicator of a country's economic stability and resilience. Utilizing time-series data spanning a significant period, we employ econometric techniques such as cointegration analysis and Vector Error Correction Model (VECM) to explore the long-run equilibrium relationship and short-run dynamics between interest rates and external reserves. Our findings provide valuable insights into the interplay between monetary policy instruments and foreign exchange reserves management in Nigeria, shedding light on the implications for economic stability, exchange rate management, and policy formulation.

This paper explores the evolving role of management research in catalyzing real-world change beyond the confines of academia. As the demand for practical solutions to complex societal and organizational challenges grows, there is a pressing need to broaden the impact of management research beyond the ivory tower. Drawing on case studies and examples, this paper examines how management research can drive tangible and sustainable change in diverse contexts. From innovative business strategies to effective leadership practices, management research has the potential to inform decision-making and shape the future of organizations and society. By embracing interdisciplinary collaboration, engaging stakeholders, and prioritizing relevance and applicability, management researchers can maximize their impact and contribute meaningfully to addressing pressing global issues.