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Financial Sector Development and Economic Growth in Nigeria

Year: 2024

Type: article

Abstract: This study examines the relationship between financial sector development and economic growth in Nigeria from 1980 to 2024 using the auto-regressive distributed lag (ARDL) approach. The main goal is to empirically examine how various financial sector reforms influence Nigeria's economic growth. The study adopts two measures of financial sector development: financial depth (broad money supply (M2) as a ratio of GDP, loans from the banking sector to the private sector as a ratio of GDP). We conducted the unit root test using the Philips-Perron stationarity test, revealing that certain variables remain stationary at the level, others after the initial difference, and none-integrate to the second order....

Source: Zenodo (CERN European Organization for Nuclear Research)

DOI: 10.5281/zenodo.17184225

Authors: Ekpo, Godwin Mfon, Onwioduokit, Emmanuel Ating, Iwatt, Effiwatt B.

Language: English

Topic: Monetary Policy and Economic Impact

Subfield: General Economics, Econometrics and Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: green

OpenAlex ID: W7083011712

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