Financial Sector Reforms And Economic Growth In Nigeria 1970 2009 PDF Download
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| Author | : Angel Okonkwo |
| Publisher | : |
| Total Pages | : 74 |
| Release | : 2021-07-13 |
| Genre | : |
| ISBN | : 9783346516169 |
Download Effects of Financial Sector Reforms on Economic Growth. The Case of Nigeria Book in PDF, ePub and Kindle
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.
| Author | : Charles Osondu Manasseh |
| Publisher | : |
| Total Pages | : 10 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
Download Economic Growth in Nigeria Book in PDF, ePub and Kindle
The growth of financial system, as the central hub of every economy is paramount for economic development. The reformation of the financial sector is the bedrock for building a formidable, transparent and efficient financial system that could supports the mobilisation of domestic and foreign savings for investment. Conversely, it deepens and broadens financial intermediation, and enforces strict regulations with prudential guide for increase in business activities. Thus, the aim of the study is to investigate the causal relationship between financial sector reforms and economic growth in Nigeria. The study also established the impact of financial sector reforms on economic growth to ascertain if financial sector reforms in Nigeria promote growth. To establish this, financial sector reforms is measured with the ratio of banking sector domestic credit, domestic credit to the private sector and Capital flow proxied with foreign direct investment while economic growth is captured with Per capita GDP. Using generalised linear regression method, with quarterly time series data that spans the periods 1981Q1 to 2010Q4, the following findings on granger causality test were noticed; (a) bidirectional relationship between banking sector domestic credit and per-capita GDP; (b) unidirectional causation running from foreign direct investment to per-capita GDP and; (c) unidirectional causation running from per-capita GDP to domestic credit to the private sector. However, from the findings, banking sector domestic credit and foreign direct investment are the major policy variables that can be adjusted for economic growth. Finally, the estimated regression results show that the explanatory variables accounted for approximately 63.45 percent variation in economic growth. Hence, financial sector reform promotes economic growth in Nigeria.
| Author | : Mfonobong Etokakpan |
| Publisher | : LAP Lambert Academic Publishing |
| Total Pages | : 152 |
| Release | : 2012-05 |
| Genre | : |
| ISBN | : 9783659121944 |
Download Financial Sector Reforms and Economic Growth in Nigeria (1970 - 2009) Book in PDF, ePub and Kindle
This book offers an investigation to the links between financial sector reforms and economic growth in Nigeria. It discovered the channels through which financial liberalization contributed to the economic growth in Nigeria. This book reveals that all is not well with the McKinnon and Shaw postulation as interpreted and applied to Nigerian economy. The target of achieving positive and rising real deposit rate via increase in nominal interest rate was obviously a wrong approach given the structure of the economy and the connection between the financial system. A more effective means to improve real interest rate would be through macroeconomic stabilization and fiscal reforms. However, the book revealed a linkage between financial sector and economic growth. Although the results were mixed, the estimated results reveal that changes in exchange rate affect GDP i.e. exchange rate and have significant impacts on economic growth. In addition, a positive impact in exchange rate will have a positive impact on economic growth. Hence, these results show the need to sustained reforms in the financial sector in order to enhance economic growth.
| Author | : Augustus N. Gbosi |
| Publisher | : |
| Total Pages | : 344 |
| Release | : 2007 |
| Genre | : Nigeria |
| ISBN | : |
Download The Nigerian Economy and Current Economic Reforms Book in PDF, ePub and Kindle
| Author | : Sylvanus I. Ikhide |
| Publisher | : |
| Total Pages | : 52 |
| Release | : 2001 |
| Genre | : Business cycles |
| ISBN | : |
Download Financial Sector Reforms, Macroeconomic Instability and the Order of Economic Liberalization Book in PDF, ePub and Kindle
| Author | : Uju Akpunonu |
| Publisher | : |
| Total Pages | : 12 |
| Release | : 2019 |
| Genre | : |
| ISBN | : |
Download Effect of Financial Sector Reforms on Economic Growth in Nigeria Book in PDF, ePub and Kindle
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.
| Author | : Charles Osondu Manasseh |
| Publisher | : |
| Total Pages | : 15 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
Download Financial Sector Development Book in PDF, ePub and Kindle
The paper examine the impact of institutional reforms on financial sector development in Nigeria using data that span the periods of 1996 to 2011. Our findings indicates that measures of institutional reform such as regulatory quality (Rqty), government effectiveness (Gef); and political stability and absence of voice (Psav) impact strongly on financial sector development (Dcps) in Nigeria, suggesting the need for institutional reforms that can promote viable regulatory system for the enhancement of contract enforcement; property right protection, corruption control; and to avoid any form of politically motivated violence, unconstitutional overthrownment and terrorism in Nigeria. The results of the causality test also show that financial sector development (Dcps) granger causes economic growth (Rgdp) in Nigeria. However, it is evident that future improvements in institutional quality in Nigeria, through initiation of all-encompassing reforms in the institutions, may promote financial sector development which may in turn promote economic growth.
| Author | : Adewale Adegoke Alawiye-Adams |
| Publisher | : |
| Total Pages | : 26 |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
Download The Impact of Financial Sector Reforms on Bank Growth in Nigeria Book in PDF, ePub and Kindle
The paper empirically examined the impact of financial sector reforms on Bank growth in Nigeria and data spanning a period of thirty four years (i.e. 1971-2005) was analysed using the Panel Data Model. Earnings per Share (EPS), Returns on Capital Employed (ROCE) and Returns on Equity (ROE) were used as proxies for Bank growth (i.e. the dependent variables) while Interest Rate, Real Financial Savings and Exchange Rates were used as the proxies for financial sector reform (i.e. the independent variables).A number of diagnostic tests were also conducted on the residuals to evaluate the models; these include the Breuch-Godfrey Serial Correlation Lagrange Multiplier (LM) Test, the Ramsey REST Test of Specification Error (i.e. to test for omitted variables, incorrect functional form, correlation between exogenous variables and error term) and the Cumulative Sum (CUSUM ) tests of parametric stability, the LM test of Serial Correlation showed that there was an absence of first order serial correlation in the residuals and cumulative sum tests also showed that observations are more stable during Pre-S.A.P (Structural Adjustment Programme) period than the Post-S.A.P era.The result obtained showed that though the impact of financial sector reforms on bank growth in Nigeria for the period of study was significant, especially as measured by the proxies of Earnings per Share and Return on Equity, it was not significant enough to transform the nations' economy to the desired level.Given the foregoing therefore, the study suggests among other things that what is needed is for financial sector reform to achieve its purpose, a stable macroeconomic environment is a prerequisite and it is germane to ensure that government fiscal policies are crafted to complement monetary policies.
| Author | : Jomo Kwame Sundaram |
| Publisher | : Columbia University Press |
| Total Pages | : 561 |
| Release | : 2011-01-17 |
| Genre | : Business & Economics |
| ISBN | : 0231527276 |
Download Reforming the International Financial System for Development Book in PDF, ePub and Kindle
The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.
| Author | : Jeremy Greenwood |
| Publisher | : DIANE Publishing |
| Total Pages | : 46 |
| Release | : 2010-10 |
| Genre | : Business & Economics |
| ISBN | : 1437933971 |
Download Quantifying the Impact of Financial Development on Economic Development Book in PDF, ePub and Kindle
How important is financial development for economic development? A costly state verification model of financial intermediation is presented to address this question. The model is calibrated to match facts about the U.S. economy, such as intermediation spreads and the firm-size distribution for the years 1974 and 2004. It is then used to study the international data, using cross-country interest-rate spreads and per-capita GDP. The analysis suggests that a country like Uganda could increase its output by 140 to 180 percent if it could adopt the world's best practice in the financial sector. Still, this amounts to only 34 to 40 percent of the gap between Uganda's potential and actual output. Charts and tables.
