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Effect Of Financial Deepening On Economic Growth In Nigeria


Effect Of Financial Deepening On Economic Growth In Nigeria
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Effect Of Financial Deepening On Economic Growth In Nigeria


Effect Of Financial Deepening On Economic Growth In Nigeria
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Author : Paschal Chikwado Nwakobi
language : en
Publisher:
Release Date : 2020

Effect Of Financial Deepening On Economic Growth In Nigeria written by Paschal Chikwado Nwakobi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020 with categories.


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.



Reassessing Growth Impact Of Financial Deepening In Emerging Economies


Reassessing Growth Impact Of Financial Deepening In Emerging Economies
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Author : Ogbodo Charles
language : en
Publisher:
Release Date : 2016

Reassessing Growth Impact Of Financial Deepening In Emerging Economies written by Ogbodo Charles and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with categories.


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


Financial Deepening And Economic Growth In Nigeria
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Author :
language : en
Publisher:
Release Date : 2015

Financial Deepening And Economic Growth In Nigeria written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015 with categories.




Financial Deepening And Economic Growth In Nigeria


Financial Deepening And Economic Growth In Nigeria
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Author : Paul Terhemba Iorember
language : en
Publisher:
Release Date : 2016-11-22

Financial Deepening And Economic Growth In Nigeria written by Paul Terhemba Iorember and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-22 with categories.




Testing The Supply Leading And Demand Following Hypothesis For Financial Development And Economic Growth A Case Of The Nigerian Banking System


Testing The Supply Leading And Demand Following Hypothesis For Financial Development And Economic Growth A Case Of The Nigerian Banking System
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Author : S. Magaji
language : en
Publisher:
Release Date : 2022

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 has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022 with categories.


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.



Effect Of Financial Sector Reforms On Economic Growth In Nigeria


Effect Of Financial Sector Reforms On Economic Growth In Nigeria
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Author : Uju Akpunonu
language : en
Publisher:
Release Date : 2019

Effect Of Financial Sector Reforms On Economic Growth In Nigeria written by Uju Akpunonu and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with categories.


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.



Financial Development Trade Openness And Economic Growth In Nigeria


Financial Development Trade Openness And Economic Growth In Nigeria
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Author : Joshua Afolabi
language : en
Publisher:
Release Date : 2023

Financial Development Trade Openness And Economic Growth In Nigeria written by Joshua Afolabi and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023 with categories.


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.



Financial Development Economic Growth And Stock Market Volatility


Financial Development Economic Growth And Stock Market Volatility
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Author : Umar Bida Ndako
language : en
Publisher:
Release Date : 2010

Financial Development Economic Growth And Stock Market Volatility written by Umar Bida Ndako and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.




Effects Of Financial Sector Reforms On Economic Growth The Case Of Nigeria


Effects Of Financial Sector Reforms On Economic Growth The Case Of Nigeria
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Author : Angel Okonkwo
language : en
Publisher:
Release Date : 2021-07-13

Effects Of Financial Sector Reforms On Economic Growth The Case Of Nigeria written by Angel Okonkwo and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-07-13 with categories.


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.



Short Run Pain Long Run Gain


Short Run Pain Long Run Gain
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Author : Mr.Sergio L. Schmukler
language : en
Publisher: International Monetary Fund
Release Date : 2003-02-01

Short Run Pain Long Run Gain written by Mr.Sergio L. Schmukler and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-02-01 with Business & Economics categories.


We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock market prices. Our results indicate that financial liberalization is followed by more pronounced boom-bust cycles in the short run. However, financial liberalization leads to more stable markets in the long run. Finally, we analyze the sequencing of liberalization and institutional reforms to understand the contrasting short- and long-run effects of liberalization.