Financial Sector Development and Domestic Savings in Nigeria: A Bounds Testing Co-Integration Approach

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dc.creatorEwetan , O. O., Ike, D. N., Urhie, Ese S
dc.date2015-02
dc.date.accessioned2025-03-27T17:39:40Z
dc.descriptionThis study examines the long-run relationship between financial sector development and domestic saving in Nigeria for the period 1980 to 2012 using time series data. It employs bounds tests cointegration approach also known as autoregressive distributed lag estimation due to mixed integration order of the variables and small sample size. The study made use of a composite index constructed from the three alternative financial development indicators measures. The econometric results provide evidence of long run relationship between financial sector development and domestic saving in Nigeria. The constructed composite index of financial development has a positive and significant impact on domestic savings likewise each of the respective three components of this index has a positive impact on domestic saving. Government should therefore consolidate on past financial sector reforms to improve domestic saving mobilization to reduce the dependence of Nigeria on foreign savings to finance domestic investment.
dc.formatapplication/pdf
dc.identifierhttp://eprints.covenantuniversity.edu.ng/4317/
dc.identifier.urihttps://repository.covenantuniversity.edu.ng/handle/123456789/33299
dc.languageen
dc.publisherSRYAHWA PUBLICATIONS
dc.subjectH Social Sciences (General), HB Economic Theory
dc.titleFinancial Sector Development and Domestic Savings in Nigeria: A Bounds Testing Co-Integration Approach
dc.typeArticle

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