Does Financial Sector Development Promote Industrialization in Nigeria?

dc.creator	Ewetan , O. O., Ike, D. N.
dc.date	2014-05-31
dc.date.accessioned	2025-03-26T11:18:20Z
dc.description	This paper examines the long run and causal relationship between financial sector development and industrialization in Nigeria for the period 1981 to 2011 using time series data. Results from a multivariate VAR and vector error correction model provide evidence of long run relationship between financial sector development and industrialization in Nigeria. The two measures of financial development had contrasting effects on industrial output. Ratio of private sector bank credit to GDP has a positive relationship with industrial output while the ratio of broad money stock to GDP has a negative relationship with industrial output. Granger causality test reveals long-run unidirectional causal link running from industrialization to financial development. There is therefore the urgent need for government to consolidate on past financial sector reforms to address the challenges of financial intermediation in the domestic financial sector to improve loan disbursement to the industrial sector of the Nigerian economy.
dc.format	application/pdf
dc.identifier	http://eprints.covenantuniversity.edu.ng/2652/
dc.identifier.uri	https://repository.covenantuniversity.edu.ng/handle/123456789/30974
dc.language	en
dc.publisher	IJRSS & K.A.J
dc.subject	HB Economic Theory
dc.title	Does Financial Sector Development Promote Industrialization in Nigeria?
dc.type	Article

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