Financial Deepening and Economic Performance in Nigeria

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dc.contributor.authorOmobolanle Rachael ANIH
dc.date.accessioned2024-05-20T13:42:04Z
dc.date.available2024-05-20T13:42:04Z
dc.date.issued2022-12
dc.description.abstractThis research study investigates on the interrelationship between financial development and economic growth in Nigeria within the periods of 1985-2020. Specifically, it investigates the effect of financial depth on economic performance in Nigeria; determine the direction of causality between financial depth and economic performance in Nigeria; and examine the response of economic performance to shocks in financial depth in Nigeria. Economic performance is measured by gross domestic product, while financial development is proxied by domestic credit to private sector by bank, money supply, liquid liabilities, and bank deposits. The augmented Dickey Fuller test showed that the variables are stationary at both levels and first difference. The estimation techniques are autoregressive distributed lag (ARDL), Granger causality, impulse response and variance decomposition tests. The ARDL estimation output showed that financial depth has a significant effect on economic performance in Nigeria. As to the causality test, it showed that there is bi-directional causality between financial depth and economic performance. Also, economic performance responds to shocks in financial depth in Nigeria. Based on the finding from the study, monetary authority should look into how to combine money supply, bank deposits and liquid liabilities for effective economic performance. Furthermore, it is suggested that banks can help economic performance in Nigeria by developing instruments to increase bank deposits. Thus, monetary authority should encourage money deposit banks to increase the credit given for investment so as to increase economic performance. Keywords: Domestic credit, money supply, liquid liabilities, bank deposits, output growth. Word Counts: 233.
dc.identifier.citationKate Turabian
dc.identifier.otherM.Sc
dc.identifier.urihttps://repository.lcu.edu.ng/handle/123456789/161
dc.language.isoen
dc.publisherLead City University
dc.relation.ispartofseriesM.Sc
dc.titleFinancial Deepening and Economic Performance in Nigeria
dc.typeThesis

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