Indian Journal of Finance
By: Associated Management Consultants (P) Ltd.Single Issue
Single Issue
- IJF-April12-Article2-FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN EMERGING MARKETS : THE NIGERIAN EXPERIENCE
- Price : 80.00
- Published on March 27, 2013
- Associated Management Consultants (P) Ltd.
- Issues 356
- Language - English
- Published daily
About this issue
The paper provides new evidence on the empirical relationship between financial development and economic growth in Nigeria. Time-series data from 1973 to 2009 were employed to run the econometric analysis of cointegration and Vector Error Correction Model (VECM). The Granger causality test was also adopted to test the direction of causality between financial development and economic growth in the country. The results of the study reveal that there exists a bi-directional causality between economic growth and financial development in the country. The results of this study provide evidence for the government to identify those financial development and growth variables that contribute to the overall economic performance in Nigeria. Keywords: Financial development, economic growth, causality test, vector error correction model
About Indian Journal of Finance
Indian Journal of Finance, a source of sophisticated analysis of developments in the rapidly expanding world of finance, is a monthly journal with topics ranging from corporate to personal finance, insurance to financial economics and derivatives.