THE IMPACT OF FINANCIAL DEVELOPMENT ON ECONOMIC GROWTH IN NIGERIA
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
ABSTRACT
The Nigerian financial system experienced series of reforms and amidst these reforms an important component of the sector, the financial market has demonstrated an impressive performance evidenced from its growth especially in the last decade. Coupled with this development, the Nigerian economy has also experienced growth which did not significantly translate into positive improvements in employment, and poverty reduction. This study examined the relationship between financial development and economic growth in Nigeria Annual data on some financial development indicators and real growth domestic product were collected and used for the study. The empirical results from causality test at lags 7 show that value of transaction and turnover ratio each drives real GDP with no reverse or feedback effect. Thus, this supports the evidence of unidirectional causal link from these two indicators to real gross domestic product. In essence, the general causality results reveal some evidence that financial development causes economic growth in Nigeria as shown by some of the financial development used in this study. The co-integration results imply that there exists a significant long-run relationship between financial market and economic growth. There exist four significant co integrating vectors or four different linear combinations of the financial market indicators that can drift together roughly at the same time with the RGDP. The study recommends among others the need for availability of more investment instruments such as derivatives, convertibles, future, and swaps options in the Nigerian financial market in order to boost the value of transactions. Also, it is recommended that all the tiers of government should be encouraged to fund their realistic developmental programmes through the financial market. This will help in boosting the activities of the financial market, as well as the financial sector. Hence, it will redirect the resources that may be used in other spheres of the economy.
Related Project Materials
EFFECTS OF JIGSAW IV COOPERATIVE LEARNING STRATEGY ON STUDENTS’ PERCEPTION, RETENTION AND PERFORMANCE IN ORGANIC CHEMISTRY
Introduction
The relevance of science to national goals, aspirations and economy dictates to a large extent, the huge co...
PRINCIPALS’ LEADERSHIP STYLES AND SECONDARY SCHOOL TEACHERS’ JOB PERFORMANCE IN EDUCATION
ABSTRACT
This study investigated the principals’ leadership styles and secondary school teachers’ job p...
THE DESIGN AND IMPLEMENTATION OF SOFTWARE FOR AUTOMOBILE INSURANCE SCHEME IN NIGERIA
ABSTRACT
The broad objective of this study focused on the design and implementation of software for automobile insurance...
AN INVESTIGATION INTO THE IMPACT OF ACCOUNTING PRINCIPLES ON THE QUALITY OF FINANCIAL REPORTS OF FIRMS IN NIGERIA.
ABSTRACT
The study examines the relationship between accounting principles and quality of financial reports in Niger...
MONITORING AND EVALUATION OF THE PROVISION AND MANAGEMENT OF EDUCATION RESOURCES ON THE STUDENTS’ PERFORMANCE IN PUBLIC SECONDARY SCHOOLS OF THREE EDUCATIONAL ZONES IN IMO STATE, NIGERIA
ABSTRACT
This study entitled Monitoring and Evaluation of the Provision and Management of Education Resources on the Student‟s Performanc...
EMPLOYEE COMMITMENT AND ORGANIZATIONAL PERFORMANCE: OPTIONS FOR IMPROVEMENT
Background of the Study
Today it becomes necessary for every organization to have full level of its emp...
STRATEGIES TO ENHANCE COMPUTER SCIENCE EDUCATION IN COLLEGE OF EDUCATION
BACKGROUND OF THE STUDY
Education is one of the basic rights of every individual. Education prepares a...
INVESTIGATION ON TEACHERS AND STUDENTS ATTITUDE TOWARDS IMPROVISATION AND THE USE OF INSTRUCTIONAL MATERIALS IN THE TEACHING OF INTEGRATED SCIENCE
Background to the Study
The influence of instructional materials in promoting students’ teaching...
Online Clearance System
ABSTRACT
The online clearance system is an internet-based study initiative that will help facilitate the queuing system in the clearance...
THE IMPACT OF MANAGEMENT STYLE ON THE EFFICIENCY OF SELECTED GOVERNMEMT OWNED COMPANIES
ABSTRACT
The research titled “The Impact of Management Style on the Efficiency of Selected Government Owned Companies In Enugu Stat...
