Financial deepening and economic growth nexus in Nigeria: Supply-leading or demand-following?

Artikel

This paper examined the direction of causality between financial deepening and economic growth in Nigeria for the period 1970-2013. The study adopted the Toda-Yamamoto augmented Granger causality test and results showed that the growth-financial deepening nexus in Nigeria follows the supply-leading hypothesis. This means that it is financial deepening that leads to growth and not growth leading financial deepening. Among other things, the study recommended that policy efforts should be geared towards removing obstacles that undermine the growth of credit to the private sector, and must restore investors' confidence in the stock market operations.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Economies ; ISSN: 2227-7099 ; Volume: 5 ; Year: 2017 ; Issue: 1 ; Pages: 1-18 ; Basel: MDPI

Classification and Topics

• Classification: Wirtschaft ; Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance ; Institutions and Growth
• Subject: financial deepening ; economic growth ; supply-leading hypothesis ; Toda-Yamamoto augmented Granger causality

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Karimo, Tari Moses ; Ogbonna, Oliver Ejike
• Event: Veröffentlichung
• (who): MDPI
• (where): Basel
• (when): 2017

Further information

• DOI: doi:10.3390/economies5010004
• Handle: http://hdl.handle.net/10419/167763
• Last update: 10.03.2025, 11:41 AM CET