Financial Development Trade Openness And Economic Growth In Nigeria
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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.
Tripartite Analysis Of Financial Development Trade Openness And Economic Growth
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Author : Kizito Ehigiamusoe
language : en
Publisher:
Release Date : 2018
Tripartite Analysis Of Financial Development Trade Openness And Economic Growth written by Kizito Ehigiamusoe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with categories.
This study examines the tripartite relationship between financial development, trade openness and economic growth in Ghana, Nigeria and South Africa for the 1980-2014 period. The study reveals a long-run causal relationship between financial development, trade openness and economic growth, thereby supporting finance- and trade-led growth hypotheses for Ghana, Nigeria and South Africa. Moreover, long-run causality from financial development and economic growth to trade openness is found for Ghana. In the short-run, there is evidence of causality from growth to financial development for Ghana, from trade openness to financial development for Nigeria and from growth and financial development to trade openness for South Africa. The findings of this study are robust to alternative proxies of financial development and various diagnostic tests. The study shows that financial development and trade openness can be deployed to accelerate growth, while growth and financial development can be used to promote trade openness. Additionally, trade openness spurs financial development. Therefore, a tripartite relationship exists between the three variables. Hence, interdependence between financial development, trade openness and economic growth is found and consequent policy recommendations are made.
Financial Deepening Economic Growth And Development
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Author : John E. Udo Ndebbio
language : en
Publisher:
Release Date : 2004
Financial Deepening Economic Growth And Development written by John E. Udo Ndebbio and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Africa, Sub-Saharan categories.
Financial Development And Economic Growth
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Author : Mr.Pablo Emilio Guidotti
language : en
Publisher: International Monetary Fund
Release Date : 1992-12-01
Financial Development And Economic Growth written by Mr.Pablo Emilio Guidotti 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 1992-12-01 with Business & Economics categories.
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.
Financial Liberalization And Growth In Developing Economics
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Author : Nigerian Society for Financial Research. Conference
language : en
Publisher:
Release Date : 2004
Financial Liberalization And Growth In Developing Economics written by Nigerian Society for Financial Research. Conference and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Finance categories.
Analyzing The Impact Of Globalization On Economic Development In Developing Economies
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Author : X, X
language : en
Publisher:
Release Date : 2013
Analyzing The Impact Of Globalization On Economic Development In Developing Economies written by X, X and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The paper examined the effect of globalization of economic growth in Nigeria. The period of analysis was between 1986 and 2003 while the analytical method employed was econometric techniques of Error Correction Modelling (ECM). The result indicated that both measures of economic integration (trade openness and financial integration) and all other orthodox determinants of economic growth such as private investment, public investment and debt series were non stationary. They were indeed I(1) series. The paper also confirmed that trade openness had significant positive effect on economic growth in Nigeria. The impact of financial integration on the economy is, however, negative but insignificant at 10 per cent level of significance. The paper concluded that Nigeria could benefit more from globalization if its economy would fully integrate with the rest of the world. The paper therefore suggested the removal of all barriers to trade and movement of capital.
Investment And Competitiveness In Africa
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Author : Diery Seck
language : en
Publisher: Springer
Release Date : 2016-11-25
Investment And Competitiveness In Africa written by Diery Seck and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11-25 with Business & Economics categories.
The book provides a detailed analysis of the nature and determinants of finance and trade and their relationship with Africa’s competitiveness. Investment is examined in its various forms (financial vs. physical), and sources (private, public, domestic and FDI), as well as its relation to the size of domestic markets and export potential. The dimensions of trade related to financial development, trade costs, development of value chains and regional integration are also studied. The capacity of finance and investment to boost Africa’s competitiveness is assessed to inform continent-wide economic policy.
Globalization And Economic Growth
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Author : A. Maduka
language : en
Publisher:
Release Date : 2017
Globalization And Economic Growth written by A. Maduka and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with categories.
Globalization has over the years been widely celebrated as one of the keys to economic growth and development. The international competitiveness resulting from the integration of the world into a global village has brought tremendous progress to the world economy. Regrettably, since the integration of the Nigerian economy into the global economy, the growth pattern of the economy has remained below expectation when compared with other countries of the world. This had in the recent time generated hearted debates among the Nigerian economic researchers on whether globalization is actually a key to economic growth. Thus, the study uses the contemporary econometric techniques of cointegration and error correction mechanism within the framework of the Pesaran et al. (2001) ARDL model to examine the impact of globalization on economic growth in Nigeria. Using annualized secondary time series data from 1970 to 2015, the study reveals that trade openness; financial integration and foreign direct investment have significant positive impact on economic growth in Nigeria. Thus, adequate mechanism should be put in place to ensure that globalization brings about the desired pace of economic growth.
Financial Development And Economic Growth In Nigeria
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Author : Olabanji Olufemi
language : en
Publisher:
Release Date : 2010
Financial Development And Economic Growth In Nigeria written by Olabanji Olufemi 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.
Development And Sustainable Growth Of Mauritius
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Author : Vanessa T. Tang
language : en
Publisher: Springer
Release Date : 2018-11-27
Development And Sustainable Growth Of Mauritius written by Vanessa T. Tang and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-11-27 with Political Science categories.
This edited volume analyzes the Mauritius economy and highlights what conditions and policies have contributed to the development of the country. The project gives a historical and economic analysis of Mauritius and provides comparative approaches looking at other developing states in Africa and Asia. This book is intended for a broad audience, consisting of not only economists with quantitative expertise but also other social scientists, policymakers and scholars interested in the intellectually fascinating exploration of Mauritius’s rapid rise and sustained growth performance.