Download or read book Effects of Financial Sector Reforms on Economic Growth The Case of Nigeria written by Angel Okonkwo and published by . This book was released on 2021-07-13 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2019 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, grade: 4.60, course: Banking and Finance, language: English, abstract: The objectives of this study includes to examine the effects of banking sector reforms on bank performance, savings, investments, developments of the Nigerian Banking System and Economic Growth. The banking sector is without no doubt a very essential part of the economy of a nation and any reforms carried out in it extend to other parts of the economy representing a transformational moment for the economy and its people. So it remains a nationwide challenge that the Nigerian banking sector and it's reforms haven't been able to significantly support the long-term financial needs of the real sector or facilitate the growth of the Nigerian economy The Augmented Dickey-Fuller (ADF) Test and The Phillip-Perron Test were used to test for stationarity of the variables, while the Johansen co-integration test was employed to indicate the existence of a long-run relationship among Gross Domestic Product-which acted as the Economic Growth proxy, Commercial Bank's Capital, Commercial Bank's Credit, and Number of Commercial Bank Branches which acted as the other variables. Secondary data was sourced from Commercial Bank Statistics, Central Bank Of Nigeria Bulletins, Nigeria Bureau Of Statistics, Statistical Bulletins for the period of 1998-2017. Conclusively, there was a positive and significant relationship betweenEconomic Growth and Banking Sector Reforms in the long run, but a negative relationship between Economic Growth and Financial Sector Reforms in the short-run. It was recommended that the government should ensure political and macroeconomic stability as the activities in all other sectors are affected by them, and that people are enlightened on the benefits of banking sector reforms so that they don't take opposing actions against the goal of reforms.
Download or read book Economic Growth in Nigeria written by Charles Osondu Manasseh and published by . This book was released on 2014 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The growth of financial system, as the central hub of every economy is paramount for economic development. The reformation of the financial sector is the bedrock for building a formidable, transparent and efficient financial system that could supports the mobilisation of domestic and foreign savings for investment. Conversely, it deepens and broadens financial intermediation, and enforces strict regulations with prudential guide for increase in business activities. Thus, the aim of the study is to investigate the causal relationship between financial sector reforms and economic growth in Nigeria. The study also established the impact of financial sector reforms on economic growth to ascertain if financial sector reforms in Nigeria promote growth. To establish this, financial sector reforms is measured with the ratio of banking sector domestic credit, domestic credit to the private sector and Capital flow proxied with foreign direct investment while economic growth is captured with Per capita GDP. Using generalised linear regression method, with quarterly time series data that spans the periods 1981Q1 to 2010Q4, the following findings on granger causality test were noticed; (a) bidirectional relationship between banking sector domestic credit and per-capita GDP; (b) unidirectional causation running from foreign direct investment to per-capita GDP and; (c) unidirectional causation running from per-capita GDP to domestic credit to the private sector. However, from the findings, banking sector domestic credit and foreign direct investment are the major policy variables that can be adjusted for economic growth. Finally, the estimated regression results show that the explanatory variables accounted for approximately 63.45 percent variation in economic growth. Hence, financial sector reform promotes economic growth in Nigeria.
Download or read book Financial Sector Reforms and Economic Growth in Nigeria 1970 2009 written by Mfonobong Etokakpan and published by LAP Lambert Academic Publishing. This book was released on 2012-05 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers an investigation to the links between financial sector reforms and economic growth in Nigeria. It discovered the channels through which financial liberalization contributed to the economic growth in Nigeria. This book reveals that all is not well with the McKinnon and Shaw postulation as interpreted and applied to Nigerian economy. The target of achieving positive and rising real deposit rate via increase in nominal interest rate was obviously a wrong approach given the structure of the economy and the connection between the financial system. A more effective means to improve real interest rate would be through macroeconomic stabilization and fiscal reforms. However, the book revealed a linkage between financial sector and economic growth. Although the results were mixed, the estimated results reveal that changes in exchange rate affect GDP i.e. exchange rate and have significant impacts on economic growth. In addition, a positive impact in exchange rate will have a positive impact on economic growth. Hence, these results show the need to sustained reforms in the financial sector in order to enhance economic growth.
Download or read book The Nigerian Economy and Current Economic Reforms written by Augustus N. Gbosi and published by . This book was released on 2007 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Financial Sector Reforms Macroeconomic Instability and the Order of Economic Liberalization written by Sylvanus I. Ikhide and published by . This book was released on 2001 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Effect of Financial Sector Reforms on Economic Growth in Nigeria written by Uju Akpunonu and published by . This book was released on 2019 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study examines the effect of financial (banking) sector reforms on economic growth in Nigeria from 1986-2013. Specifically, the study evaluates the extent to which bank capitalization (CAP) and interest rate (INTD) have affected economic growth in Nigeria. Secondary data were generated from various issues of Central Bank of Nigeria Statistical Bulletin, and the World Development Indicators of the World Bank. Ordinary Least Square (OLS) regression was adopted to test the two hypotheses formulated for the study. The study revealed that bank capitalization (CAP) has significantly affected economic growth in Nigeria and interest rate (INTD) has also affected economic growth significantly, though at long run. The study recommends that the CBN should build and maintain a well-articulated and properly implemented banking reforms such that will stimulate savings through high real deposit rate and lending rate which will result in financial deepening and thus, economic growth.
Download or read book Reforming the International Financial System for Development written by Jomo Kwame Sundaram and published by Columbia University Press. This book was released on 2011-01-17 with total page 561 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits. Our latest global financial crisis, in which all these weaknesses played a part, underscores how urgently we must reform the international financial system. Prepared for the G24 research program, a consortium of developing countries focused on financial issues, this volume argues that such reforms must be developmental. Chapters review historical trends in global liquidity, financial flows to emerging markets, and the food crisis, identifying the systemic flaws that contributed to the recent downturn. They challenge the effectiveness of recent policy and suggest criteria for regulatory reform, keeping in mind the different circumstances, capacities, and capabilities of various economies. Essays follow ongoing revisions in international banking standards, the improved management of international capital flows, the critical role of the World Trade Organization in liberalizing and globalizing financial services, and the need for international tax cooperation. They also propose new global banking and reserve currency arrangements.
Download or read book Quantifying the Impact of Financial Development on Economic Development written by Jeremy Greenwood and published by DIANE Publishing. This book was released on 2010-10 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: How important is financial development for economic development? A costly state verification model of financial intermediation is presented to address this question. The model is calibrated to match facts about the U.S. economy, such as intermediation spreads and the firm-size distribution for the years 1974 and 2004. It is then used to study the international data, using cross-country interest-rate spreads and per-capita GDP. The analysis suggests that a country like Uganda could increase its output by 140 to 180 percent if it could adopt the world's best practice in the financial sector. Still, this amounts to only 34 to 40 percent of the gap between Uganda's potential and actual output. Charts and tables.
Download or read book Nigeria s Economic Reforms written by Ngozi Okonjo-Iweala and published by . This book was released on 2007-06-01 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Following years of economic stagnation, Nigeria embarked on a comprehensive reform program during the second term of the Obasanjo administration. The program was based on the National Economic Empowerment and Development Strategy (NEEDS) and focused on four main areas: improving the macroeconomic environment, pursuing structural reforms, strengthening public expenditure management, and implementing institutional and governance reforms. This paper reviews Nigeria's recent experience with economic reforms and outlines major policy measures that have been implemented. Although there have been notable achievements under the program, significant challenges exist, particularly in translating the benefits of reforms into welfare improvements for citizens, in improving the domestic business environment, and in extending reform policies to states and local governments." The authors argue that the reform program must be considered as 'initial steps on a long journey'; consequently, they have outlined a number of outstanding issues that need to be addressed by future Nigerian administrations.
Download or read book Financial Liberalization written by Gerard Caprio and published by Cambridge University Press. This book was released on 2001-10-08 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume provides a rounded view of financial liberalization after the collapses in East Asia.
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Download or read book The Growth Report written by Commission on Growth and Development and published by World Bank Publications. This book was released on 2008-07-23 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Download or read book Financial Structure and Economic Growth written by Aslı Demirgüç-Kunt and published by MIT Press. This book was released on 2001 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: CD-ROM contains: World Bank data.
Download or read book Financial Deepening in Economic Development written by Edward S. Shaw and published by Oxford University Press, USA. This book was released on 1973-01-01 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book World Development Report 2009 written by World Bank and published by World Bank Publications. This book was released on 2008-11-04 with total page 410 pages. Available in PDF, EPUB and Kindle. Book excerpt: Rising densities of human settlements, migration and transport to reduce distances to market, and specialization and trade facilitated by fewer international divisions are central to economic development. The transformations along these three dimensions density, distance, and division are most noticeable in North America, Western Europe, and Japan, but countries in Asia and Eastern Europe are changing in ways similar in scope and speed. 'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. Slum-dwellers now number a billion, but the rush to cities continues. Globalization is believed to benefit many, but not the billion people living in lagging areas of developing nations. High poverty and mortality persist among the world's 'bottom billion', while others grow wealthier and live longer lives. Concern for these three billion often comes with the prescription that growth must be made spatially balanced. The WDR has a different message: economic growth is seldom balanced, and efforts to spread it out prematurely will jeopardize progress. The Report: documents how production becomes more concentrated spatially as economies grow. proposes economic integration as the principle for promoting successful spatial transformations. revisits the debates on urbanization, territorial development, and regional integration and shows how today's developers can reshape economic geography.
Download or read book The Nigerian Banking Sector Reforms written by S. Apati and published by Springer. This book was released on 2015-12-11 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first comprehensive book on the politics and economics of financial sector consolidation in an emerging market in West Africa. It draws on the author's twenty years experience working with multinationals in this oil-rich zone, to address key issues and examine banking reform in one of the world's fastest-growing economies.
Download or read book Global Economic Prospects 2010 written by World Bank and published by World Bank Publications. This book was released on 2010-02-12 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The crisis has deeply impacted virtually every economy in the world, and although growth has returned, much progress in the fight against poverty has been lost. More difficult international conditions in the years to come will mean that developing countries will have to place even more emphasis on improving domestic economic conditions to achieve the kind of growth that can durably eradicate poverty.� —Justin Yifu Lin, Chief Economist and Senior Vice President The World Bank 'Global Economic Prospects 2010: Crisis, Finance, and Growth' explores both the short- and medium-term impacts of the financial crisis on developing countries. Although global growth has resumed, the recovery is fragile, and unless business and consumer demand strengthen, the world economy could slow down again. Even if, as appears likely, a double-dip recession is avoided, the recovery is expected to be slow. High unemployment and widespread restructuring will continue to characterize the global economy for the next several years. Already, the crisis has provoked large-scale human suffering. Some 64 million more people around the world are expected to be living on less than a $1.25 per day by the end of 2010, and between 30,000 and 50,000 more infants may have died of malnutrition in 2009 in Sub-Saharan Africa, than would have been the case if the crisis had not occurred. Over the medium term, economic growth is expected to recover. But increased risk aversion, a necessary and desirable tightening of financial regulations in high-income countries, and measures to reduce the exposure of developing economies to external shocks are likely to make finance scarcer and more costly than it was during the boom period. As a result, just as the ample liquidity of the early 2000s prompted an investment boom and an acceleration in developing-country potential output, higher costs will likely yield a slowing in developing-country potential growth rates of between 0.2 and 0.7 percentage points, and as much as an 8 percent decline in potential output over the medium term. In the longer term, however, developing countries can more than offset the implications of more expensive international finance by reducing the cost of capital channeled through their domestic financial markets. For more information, please visit www.worldbank.org/gep2010. To access Prospects for the Global Economy, an online companion publication, please visit www.worldbank.org/globaloutlook.
