The impact of financial development on economic growth in Nigeria : an ARDL analysis

Eugene Iheanacho

This study empirically examines the relationship between financial intermediary development and economic growth in Nigeria over the period 1981–2011 using the auto-regressive distributed lag (ARDL) approach to co-integration analysis. The results show that the relationship between financial development and economic growth in Nigeria is not significantly different from what has been observed generally in oil-dependent economies. The relationship between financial intermediary development and economic growth in Nigeria is found to be insignificantly negative in the long-run and significantly negative in the short-run. The results highlight the dominant role of the oil sector in economic activities in Nigeria.

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Year of publication:	December 2016
Authors:	Iheanacho, Eugene
Published in:	Economies : open access journal. - Basel : MDPI, ISSN 2227-7099, ZDB-ID 2704214-5. - Vol. 4.2016, 4, p. 1-12
Subject:	financial development \| economic growth \| oil price \| oil-dependent economies \| Nigeria \| ARDL \| Wirtschaftswachstum \| Economic growth \| Finanzsektor \| Financial sector \| Finanzmarkt \| Financial market \| Ölpreis \| Oil price \| Finanzmarktregulierung \| Financial market regulation \| Kointegration \| Cointegration

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.3390/economies4040026 [DOI] hdl:10419/167755 [Handle]
Classification:	G20 - Financial Institutions and Services. General ; O11 - Macroeconomic Analyses of Economic Development ; Q32 - Exhaustible Resources and Economic Development
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011610208