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Financial Deepening, Foreign Direct Investment and Output Performance in Nigeria

Author

Listed:
  • Alabi Mumeen Olatunbosun

    (Department of Economics, Olabisi Onabanjo University, Ago-Iwoye, Nigeria;)

  • Tella Sheriffdeen Adewale

    (Department of Economics, Olabisi Onabanjo University, Ago-Iwoye, Nigeria;)

  • Odusanya Ibrahim Abidemi

    (Department of Economics, Olabisi Onabanjo University, Ago-Iwoye, Nigeria; ibrahim_odusanya@yahoo.co.uk)

  • Yinusa Olumuyiwa Ganiyu

    (Department of Accounting, Banking and Finance, Olabisi Onabanjo University, Ago-Iwoye, Nigeria;)

Abstract

This study examines the relationship between financial deepening, foreign direct investment and output performance in Nigeria from 1980-2015 using the Autoregressive Distributed Lag (ARDL) Bound Test approach. A long-run relationship was established between financial deepening indicators, foreign direct investment and output performance in Nigeria. Foreign direct investment and market capitalization as a percentage of the GDP exerted significantly on output performance both in the short-run and in the long-run periods. It is recommended that financial depth should be enhanced through improved and highly efficient provision of credit by banks to the real sector of the Nigerian economy.

Suggested Citation

  • Alabi Mumeen Olatunbosun & Tella Sheriffdeen Adewale & Odusanya Ibrahim Abidemi & Yinusa Olumuyiwa Ganiyu, 2018. "Financial Deepening, Foreign Direct Investment and Output Performance in Nigeria," Scientific Annals of Economics and Business, Sciendo, vol. 65(2), pages 193-204, June.
    • Handle: RePEc:vrs:aicuec:v:65:y:2018:i:2:p:193-204:n:1
    DOI: 10.2478/saeb-2018-0007
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    Cited by:

    1. Gbenga F. BABARINDE, 2020. "Growth Effects Of Foreign Direct Investment And Financial Deepening In Nigeria (1981-2018)," Business Excellence and Management, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 10(4), pages 49-67, December.

    More about this item

    Keywords

    financial sector; co-integration; output; Nigeria;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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