Advanced Search
MyIDEAS: Login to save this article or follow this journal

Financial Development: A Fillip or Impediment to Nigeria’s Economic Growth

Contents:

Author Info

  • Taofik M. Ibrahim

    (Department of Economics, University of Ibadan, Nigeria)

  • Mohammed I. Shuaibu

    (Department of Economics, University of Ibadan, Ibadan, Nigeria)

Abstract

T Over the years, substantial theoretical and empirical studies have been conducted on the financial development-economic growth nexus. While a strand of the literature has found a positive linkage between this critical nexus, the other suggests otherwise. This study contributes to the debate by examining the finance-growth nexus for Nigeria using the bounds testing approach to cointegration within an ARDL framework proposed by Pesaran et al. (2001) and the augmented Granger causality test developed by Toda and Yamamoto (1995).Empirical evidence reveals that financial development significantly affects economic growth in the short and long run. The major implication for our study therefore is that financial regulatory institutions need to be strengthened to better maximize the gains from financial development especially its role towards real sector development and job creation for the growing population.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://econjournals.com/index.php/ijefi/article/download/362/pdf
Download Restriction: no

File URL: http://econjournals.com/index.php/ijefi/article/view/362/pdf
Download Restriction: no

Bibliographic Info

Article provided by Econjournals in its journal International Journal of Economics and Financial Issues.

Volume (Year): 3 (2013)
Issue (Month): 2 ()
Pages: 305-318

as in new window
Handle: RePEc:eco:journ1:2013-02-4

Contact details of provider:
Web page: http://www.econjournals.com

Related research

Keywords: Financial Development; Economic Growth; Co-integration; Causality;

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. Suleiman Abu-Bader & Aamer S. Abu-Qarn, 2008. "Financial Development and Economic Growth: Empirical Evidence from Six MENA Countries," Review of Development Economics, Wiley Blackwell, Wiley Blackwell, vol. 12(4), pages 803-817, November.
  2. Harb, Nasri & Al-Awad, Mouawiya, 2005. "Financial Development and Economic Growth in the Middle East," MPRA Paper 13605, University Library of Munich, Germany.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Selim Yildirim & Bilge Kagan Özdemir & Burhan Dogan, 2013. "Financial Development and Economic Growth Nexus in Emerging European Economies: New Evidence from Asymmetric Causality," International Journal of Economics and Financial Issues, Econjournals, Econjournals, vol. 3(3), pages 710-722.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:eco:journ1:2013-02-4. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ilhan Ozturk).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.