Effect Of Financial Deepening On Economic Growth In Nigeria

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Effect of Financial Deepening on Economic Growth in Nigeria

Author : Paschal Chikwado Nwakobi
Publisher :
ISBN 13 :
Total Pages : 9 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Effect of Financial Deepening on Economic Growth in Nigeria by : Paschal Chikwado Nwakobi

Download or read book Effect of Financial Deepening on Economic Growth in Nigeria written by Paschal Chikwado Nwakobi and published by . This book was released on 2020 with total page 9 pages. Available in PDF, EPUB and Kindle. Book excerpt: The influence of financial deepening on the economic growth of any nation cannot be underestimated. To this end, the study evaluated the effect of financial deepening on economic growth in Nigeria over a period of thirty three (33) years: 1986 to 2018. Data were collected from statistical bulletins of the Central Bank of Nigeria (CBN) and factbooks of the Nigerian Stock Exchange (NSE). The model estimation followed the Auto-regressive Distributive Lag (ARDL) approach with the effect estimated in line with the Granger Causality analysis. We found that economic growth in Nigeria is not affected by financial deepening. The study also stated that the level of growth in the economy is what influences the level of development in the banking sector. The implication is that the Central Bank of Nigeria and the Security and Exchange Commission (SEC) should formulate and implement policies geared toward the deepening of the banking sector and the capital markets to help in the efficient and effective mobilization of resources to accelerate the growth of the Nigerian economy. The insurance sector should not be left out in this regard even though citizens seem not to embrace the need for insurance policies. Impediments to the competition in the banking, insurance and capital market activities should be removed by strict legislation in line with international best practices and participants in the markets be protected as well.

Financial Deepening and Economic Growth in Nigeria

Author :
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (932 download)

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Book Synopsis Financial Deepening and Economic Growth in Nigeria by :

Download or read book Financial Deepening and Economic Growth in Nigeria written by and published by . This book was released on 2015 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reassessing Growth Impact of Financial Deepening in Emerging Economies

Author : Ogbodo Charles
Publisher :
ISBN 13 :
Total Pages : 7 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Reassessing Growth Impact of Financial Deepening in Emerging Economies by : Ogbodo Charles

Download or read book Reassessing Growth Impact of Financial Deepening in Emerging Economies written by Ogbodo Charles and published by . This book was released on 2016 with total page 7 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reassesses the relationship between financial deepening and economic growth in Nigeria using distributed lag model and causality analysis. It presents two important conclusions. First, financial deepening in Nigeria may not necessarily impact growth; and when it does, its impact may be negative. Second, financial sector in Nigeria seems not to have been positioned enough as policy instrument for achieving economic growth. To further understand the relationship between financial deepening and economic growth in Nigeria for proper policy recommendations, this paper suggests two important areas for more studies - optimization of Nigerian financial sector size for economic growth, and factors militating against expected growth impact of financial deepening in Nigeria.

Financial Deepening and Economic Growth in Nigeria

Author : Paul Terhemba Iorember
Publisher :
ISBN 13 : 9783659979927
Total Pages : 168 pages
Book Rating : 4.9/5 (799 download)

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Book Synopsis Financial Deepening and Economic Growth in Nigeria by : Paul Terhemba Iorember

Download or read book Financial Deepening and Economic Growth in Nigeria written by Paul Terhemba Iorember and published by . This book was released on 2016-11-22 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Impact of Bank Credit on Industrial Development of Nigeria

Author : Damian Nwosu
Publisher : GRIN Verlag
ISBN 13 : 3656453160
Total Pages : 23 pages
Book Rating : 4.6/5 (564 download)

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Book Synopsis The Impact of Bank Credit on Industrial Development of Nigeria by : Damian Nwosu

Download or read book The Impact of Bank Credit on Industrial Development of Nigeria written by Damian Nwosu and published by GRIN Verlag. This book was released on 2013-06-27 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (postgraduate) from the year 2011 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, , language: English, abstract: The ongoing financial crisis has reinforced the importance of capital in the industrial development and economic growth of a country. In the last two years, industries have closed down owing to lack of capital occasioned by the global financial meltdown. From America, London, other European countries, Asia and Africa, governments have had to intervene in other to bail out some ailing industries and forestall total collapse of the economy. These show the importance of credit either from bank or any other means to industries. Recognizing the importance of capital in economic growth, Mackinnon and Shaw (1973), outlined the procedures for strengthening the financial sector of an economy so as to enable it play the all important role of providing capital for industrial development. Among the basic explanations for this is that the financial sector serves to reallocate funds from the supply side, given their investment opportunities, to the demand side with a shortage of funds. Thus, an economy with well-developed financial institutions will be better able to allocate resources to industries that yield the highest returns. The manufacturing sector is a catalyst to the modern economy and has a many dynamic benefits that are crucial for economic transformation, (Loto, 2005). The manufacturing sector is a leading sector. It helps to increase productivity in relation to import substitution, export expansion, creating foreign exchange earning capacity, raising employment and per capital income which according to Loto, (2005), widens the scope of consumption in dynamic patterns. Ogwuma, (1995) asserts that the manufacturing sector promotes the growth of investment at a faster rate than any other sector of the economy as well as wider and more efficient linkages among different sectors.

Testing the Supply-Leading and Demand-Following Hypothesis for Financial Development and Economic Growth - a Case of the Nigerian Banking System

Download Testing the Supply-Leading and Demand-Following Hypothesis for Financial Development and Economic Growth - a Case of the Nigerian Banking System PDF Online Free

Author : S. Magaji
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Testing the Supply-Leading and Demand-Following Hypothesis for Financial Development and Economic Growth - a Case of the Nigerian Banking System by : S. Magaji

Download or read book Testing the Supply-Leading and Demand-Following Hypothesis for Financial Development and Economic Growth - a Case of the Nigerian Banking System written by S. Magaji and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study examined financial development and economic growth in the context of the Nigerian banking system using the Toda-Yamamoto approach to Granger causality to test whether the relationship between financial development and economic growth follows the pattern of supply-leading and demand-following hypothesis propounded by Patrick (1966). The financial development indicators of the banking system, which depicts financial deepening and stability for the period 1960 to 2019 were utilised. The findings of the study showed that the relationship between financial development and economic growth was neither supply-leading nor demand-following for the sub-periods of 1960-1985 and 1986-2019. However, for the entire period of 1960-2019, the demand-following hypothesis was established, suggesting that in Nigeria economic growth granger cause financial development. This implied that financial development stemming from the banking system does not drive economic growth in Nigeria. In view of this, it was recommended that efforts be made by government to diversify and fast-track development in the economy to ensure that financial development impacts on economy.

Effects of Financial Sector Reforms on Economic Growth. The Case of Nigeria

Author : Angel Okonkwo
Publisher : GRIN Verlag
ISBN 13 : 3346516156
Total Pages : 68 pages
Book Rating : 4.3/5 (465 download)

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Book Synopsis Effects of Financial Sector Reforms on Economic Growth. The Case of Nigeria by : Angel Okonkwo

Download or read book Effects of Financial Sector Reforms on Economic Growth. The Case of Nigeria written by Angel Okonkwo and published by GRIN Verlag. This book was released on 2021-10-18 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2019 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 4.60, , course: Banking and Finance, language: English, abstract: The objectives of this study includes to examine the effects of banking sector reforms on bank performance, savings, investments, developments of the Nigerian Banking System and Economic Growth. The banking sector is without no doubt a very essential part of the economy of a nation and any reforms carried out in it extend to other parts of the economy representing a transformational moment for the economy and its people. So it remains a nationwide challenge that the Nigerian banking sector and it’s reforms haven’t been able to significantly support the long-term financial needs of the real sector or facilitate the growth of the Nigerian economy The Augmented Dickey-Fuller (ADF) Test and The Phillip-Perron Test were used to test for stationarity of the variables, while the Johansen co-integration test was employed to indicate the existence of a long-run relationship among Gross Domestic Product—which acted as the Economic Growth proxy, Commercial Bank’s Capital, Commercial Bank’s Credit, and Number of Commercial Bank Branches which acted as the other variables. Secondary data was sourced from Commercial Bank Statistics, Central Bank Of Nigeria Bulletins, Nigeria Bureau Of Statistics, Statistical Bulletins for the period of 1998-2017. Conclusively, there was a positive and significant relationship betweenEconomic Growth and Banking Sector Reforms in the long run, but a negative relationship between Economic Growth and Financial Sector Reforms in the short-run. It was recommended that the government should ensure political and macroeconomic stability as the activities in all other sectors are affected by them, and that people are enlightened on the benefits of banking sector reforms so that they don’t take opposing actions against the goal of reforms.

Financial Development, Trade Openness, and Economic Growth in Nigeria

Author : Joshua Afolabi
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Financial Development, Trade Openness, and Economic Growth in Nigeria by : Joshua Afolabi

Download or read book Financial Development, Trade Openness, and Economic Growth in Nigeria written by Joshua Afolabi and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examined the impact of financial liberalization and trade openness as well as their interactive effects on the growth of the Nigerian economy using annual time-series data for the period, 1981 to 2018. The results of the Augmented Dickey-Fuller (ADF) unit root test show that all the variables are stationary at the first difference and the Johansen cointegration test results confirm the existence of a long-run relationship among the variables in the model. Two equations were specified and estimated using the dynamic ordinary least square (DOLS) estimation technique and the granger causality test was carried out. The results reveal that financial development, exchange rate, and interest rate spread have a significant influence on real GDP in Nigeria while trade openness, as well as its interaction with financial development, do not exert any significant impact on economic growth in Nigeria. Further, this study supports the demand-following and trade-led growth hypotheses. Hence, this study recommends the design and implementation of a policy framework geared towards enhancing the intermediation efforts and deposit mobilization of the financial sector that would instigate the integration of the sector with the various productive sectors of the Nigerian economy and that trade performance in the country to be improved through economic diversification so as to boost exports, raise the country competitiveness and increase her national output.

Effect of Financial Sector Reforms on Economic Growth in Nigeria

Author : Uju Akpunonu
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Effect of Financial Sector Reforms on Economic Growth in Nigeria by : Uju Akpunonu

Download or read book Effect of Financial Sector Reforms on Economic Growth in Nigeria written by Uju Akpunonu and published by . This book was released on 2019 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study examines the effect of financial (banking) sector reforms on economic growth in Nigeria from 1986-2013. Specifically, the study evaluates the extent to which bank capitalization (CAP) and interest rate (INTD) have affected economic growth in Nigeria. Secondary data were generated from various issues of Central Bank of Nigeria Statistical Bulletin, and the World Development Indicators of the World Bank. Ordinary Least Square (OLS) regression was adopted to test the two hypotheses formulated for the study. The study revealed that bank capitalization (CAP) has significantly affected economic growth in Nigeria and interest rate (INTD) has also affected economic growth significantly, though at long run. The study recommends that the CBN should build and maintain a well-articulated and properly implemented banking reforms such that will stimulate savings through high real deposit rate and lending rate which will result in financial deepening and thus, economic growth.

The Nigerian Economic and Financial Review

Author :
Publisher :
ISBN 13 :
Total Pages : 144 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Nigerian Economic and Financial Review by :

Download or read book The Nigerian Economic and Financial Review written by and published by . This book was released on 1995 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial development and economic growth in Nigeria

Author : Olabanji Olufemi
Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (827 download)

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Book Synopsis Financial development and economic growth in Nigeria by : Olabanji Olufemi

Download or read book Financial development and economic growth in Nigeria written by Olabanji Olufemi and published by . This book was released on 2010 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financialisation, Capital Accumulation and Economic Development in Nigeria

Author : Ejike Udeogu
Publisher : Cambridge Scholars Publishing
ISBN 13 : 1527522733
Total Pages : 198 pages
Book Rating : 4.5/5 (275 download)

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Book Synopsis Financialisation, Capital Accumulation and Economic Development in Nigeria by : Ejike Udeogu

Download or read book Financialisation, Capital Accumulation and Economic Development in Nigeria written by Ejike Udeogu and published by Cambridge Scholars Publishing. This book was released on 2018-11-30 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: The inadequacies of many past studies that have tried to highlight the causes of the persistent underdevelopment in developing countries—such as Nigeria—have been noted to derive mainly from the focus and, in some cases, the methodologies adopted by the researchers. It has been suggested that, although many researchers recognize the inability to reproduce sufficient profit as undermining the capitalist accumulation process (and as a result the development of an economy), they have nevertheless often tended to ignore the importance of the political-economic arrangement and historical factors in the formation of expectations about the rate of profit. Indeed, in some cases, they have failed to provide a substantive account of these critical variables. This book highlights how the inherent contradictions of the contemporary political-economic arrangement and some historical factors undermined the peculiar capital accumulation processes in Nigeria, which, in turn, has slowed economic development in the country. This book contributes to the field of Nigeria studies by filling gaps that exist in both theoretical and empirical literature on growth and development in the country, deviating from the orthodox approach of analysing the nation’s problems purely based on the factors internal to the country and by imposing ready-made theoretical logics on history. Rather, it studies Nigeria’s problems in juxtaposition with the world system and imposes historical evidence on theoretical logics. This book represents a good resource for both undergraduate and postgraduate courses on area studies. Researchers and policy-makers will also find it useful as a reference.

Impact of Financial Stability on Economic Growth

Author : Ebele Amali
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Impact of Financial Stability on Economic Growth by : Ebele Amali

Download or read book Impact of Financial Stability on Economic Growth written by Ebele Amali and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the impact of financial stability on economic growth in Nigeria by employingthe Autoregressive Distributed Lag (ADRL) technique using time series data from Q1, 2006-Q4, 2020. Real GDP is the experimental variable and proxy for economic growth, while financial stability is measured by capital adequacy, non-performing loans, liquidity ratios and return on assets of the banking sector as well as the All-share Index of the stock market. The results indicate that capital adequacy, non-performing loans and liquidity ratios impact negatively on economic growth. The Allshare Index, however, reveals a positive and significant relationship with growth. The implication is that financial stability policy needs to be complemented by other financial development objectives in order to stimulate economic growth. The data utilised for the study is limited to the banking sector and the capital market, which dominate the financial sector in Nigeria. The study contributes to existing research as it offers new insight into the relationship between key measures of financial stability and economic growth in Nigeria considering that few studies have been carried out in this area. It established a negative relationship between financial stability and economic growth in Nigeria.

Financial Development, Economic Growth and Stock Market Volatility

Author : Umar Bida Ndako
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (757 download)

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Book Synopsis Financial Development, Economic Growth and Stock Market Volatility by : Umar Bida Ndako

Download or read book Financial Development, Economic Growth and Stock Market Volatility written by Umar Bida Ndako and published by . This book was released on 2010 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Development, Governments and Economic Growth in Nigeria

Author : Olalekan Adekunle Ajobiewe
Publisher :
ISBN 13 :
Total Pages : 59 pages
Book Rating : 4.:/5 (428 download)

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Book Synopsis Financial Development, Governments and Economic Growth in Nigeria by : Olalekan Adekunle Ajobiewe

Download or read book Financial Development, Governments and Economic Growth in Nigeria written by Olalekan Adekunle Ajobiewe and published by . This book was released on 2008 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial Development and Economic Growth

Author : Mr.Pablo Emilio Guidotti
Publisher : International Monetary Fund
ISBN 13 : 1451852452
Total Pages : 38 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Financial Development and Economic Growth by : Mr.Pablo Emilio Guidotti

Download or read book Financial Development and Economic Growth written by Mr.Pablo Emilio Guidotti and published by International Monetary Fund. This book was released on 1992-12-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the empirical relationship between long–run growth and the degree of financial development, proxied by the ratio of bank credit to the private sector as a fraction of GDP. We find that this proxy enters significantly and with a positive sign in growth regressions on a large cross–country sample, but with a negative sign using panel data for Latin America. Our findings suggest that the main channel of transmission from financial development to growth is the efficiency of investment, rather than its volume. We also present a model where the negative correlation between financial intermediation and growth results from financial liberalization in a poor regulatory environment.

Too Much Finance?

Author : Mr.Jean-Louis Arcand
Publisher : International Monetary Fund
ISBN 13 : 1475526105
Total Pages : 50 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Too Much Finance? by : Mr.Jean-Louis Arcand

Download or read book Too Much Finance? written by Mr.Jean-Louis Arcand and published by International Monetary Fund. This book was released on 2012-06-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines whether there is a threshold above which financial development no longer has a positive effect on economic growth. We use different empirical approaches to show that there can indeed be "too much" finance. In particular, our results suggest that finance starts having a negative effect on output growth when credit to the private sector reaches 100% of GDP. We show that our results are consistent with the "vanishing effect" of financial development and that they are not driven by output volatility, banking crises, low institutional quality, or by differences in bank regulation and supervision.