Effects Of Financial Sector Reforms On Economic Growth The Case Of Nigeria

Author : Angel Okonkwo
Publisher : GRIN Verlag
Page : 68 pages
File Size : 50,8 Mb
Release : 2021-10-18
Category : Business & Economics
ISBN : 9783346516152

Get Book

Effects of Financial Sector Reforms on Economic Growth. The Case of Nigeria by Angel Okonkwo Pdf

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.

Author : S. Apati
Publisher : Springer
Page : 205 pages
File Size : 48,5 Mb
Release : 2011-12-13
Category : Business & Economics
ISBN : 9780230305359

Get Book

The Nigerian Banking Sector Reforms by S. Apati Pdf

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.

Author : Martin Brownbridge,Charles Harvey (M.A.),Augustine Fritz Gockel
Publisher : Africa World Press
Page : 258 pages
File Size : 49,6 Mb
Release : 1998
Category : Business & Economics
ISBN : 0865436932

Get Book

Banking in Africa by Martin Brownbridge,Charles Harvey (M.A.),Augustine Fritz Gockel Pdf

This book provides a review of the evolution of the post-independence banking system in Africa. There is a strong focus on the problems of restructuring of banking institutions and the management of the bad and non-performing assets of public sector institutions.

Author : José María Fanelli,Rohinton Medhora
Publisher : Springer
Page : 384 pages
File Size : 41,5 Mb
Release : 1998-11-12
Category : Business & Economics
ISBN : 9781349268719

Get Book

Financial Reform in Developing Countries by José María Fanelli,Rohinton Medhora Pdf

For the large number of developing countries undergoing significant structural transformations, one of the most important and controversial adjustment areas is that of the financial markets. Focusing on the role of the institutional and enabling environment within which financial reform occurs and on the integration of principles of finance with more macroeconomic approaches to the subject, the book contains case studies of reform experiences in Argentina, India, Nigeria, Turkey and Uruguay. Themes studied include the 'go slow' versus 'big bang' approach and the particular problem of bank-firm inter-linkages in Eastern Europe.

Author : Augustus N. Gbosi
Publisher : Unknown
Page : 344 pages
File Size : 41,7 Mb
Release : 2007
Category : Nigeria
ISBN : STANFORD:36105133569132

Get Book

The Nigerian Economy and Current Economic Reforms by Augustus N. Gbosi Pdf

Author : Damian Nwosu
Publisher : GRIN Verlag
Page : 23 pages
File Size : 46,9 Mb
Release : 2013-06-27
Category : Business & Economics
ISBN : 9783656453161

Get Book

The Impact of Bank Credit on Industrial Development of Nigeria by Damian Nwosu Pdf

Research Paper (postgraduate) from the year 2011 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, , language: English, abstract: The ongoing financial crisis has reinforced the importance of capital in the industrial development and economic growth of a country. In the last two years, industries have closed down owing to lack of capital occasioned by the global financial meltdown. From America, London, other European countries, Asia and Africa, governments have had to intervene in other to bail out some ailing industries and forestall total collapse of the economy. These show the importance of credit either from bank or any other means to industries. Recognizing the importance of capital in economic growth, Mackinnon and Shaw (1973), outlined the procedures for strengthening the financial sector of an economy so as to enable it play the all important role of providing capital for industrial development. Among the basic explanations for this is that the financial sector serves to reallocate funds from the supply side, given their investment opportunities, to the demand side with a shortage of funds. Thus, an economy with well-developed financial institutions will be better able to allocate resources to industries that yield the highest returns. The manufacturing sector is a catalyst to the modern economy and has a many dynamic benefits that are crucial for economic transformation, (Loto, 2005). The manufacturing sector is a leading sector. It helps to increase productivity in relation to import substitution, export expansion, creating foreign exchange earning capacity, raising employment and per capital income which according to Loto, (2005), widens the scope of consumption in dynamic patterns. Ogwuma, (1995) asserts that the manufacturing sector promotes the growth of investment at a faster rate than any other sector of the economy as well as wider and more efficient linkages among different sectors.

Author : T. O. Antwi-Asare,E. K. Y. Addison
Publisher : Unknown
Page : 136 pages
File Size : 49,5 Mb
Release : 2000
Category : Banks and banking
ISBN : IND:30000081108833

Get Book

Financial Sector Reforms and Bank Performance in Ghana by T. O. Antwi-Asare,E. K. Y. Addison Pdf

Author : International Monetary Fund. African Dept.
Publisher : International Monetary Fund
Page : 132 pages
File Size : 43,6 Mb
Release : 2013-05-28
Category : Business & Economics
ISBN : 9781484346853

Get Book

Nigeria by International Monetary Fund. African Dept. Pdf

This Financial Sector Stability Assessment on Nigeria discusses the macroeconomic performance and structure of the financial system. Although Nigerian economy experienced both domestic and external shocks in recent years, the economy continued to grow rapidly, achieving more than 7 percent growth each year since 2009. The performance of financial institutions has begun to improve, though some of the emergency anti-crisis measures continue to be in place. However, the regulatory and supervisory framework has gaps and weaknesses. In sum, the Nigerian economy has emerged from the banking crisis, and has the potential to enjoy an extended period of strong economic growth.

Author : Jeremy Greenwood
Publisher : DIANE Publishing
Page : 46 pages
File Size : 43,6 Mb
Release : 2010-10
Category : Business & Economics
ISBN : 9781437933970

Get Book

Quantifying the Impact of Financial Development on Economic Development by Jeremy Greenwood Pdf

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.

Author : Mr.Jonathan David Ostry,Mr.Alessandro Prati,Mr.Antonio Spilimbergo
Publisher : International Monetary Fund
Page : 62 pages
File Size : 45,9 Mb
Release : 2009-10-15
Category : Business & Economics
ISBN : 9781589068186

Get Book

Structural Reforms and Economic Performance in Advanced and Developing Countries by Mr.Jonathan David Ostry,Mr.Alessandro Prati,Mr.Antonio Spilimbergo Pdf

This volume examines the impact on economic performance of structural policies-policies that increase the role of market forces and competition in the economy, while maintaining appropriate regulatory frameworks. The results reflect a new dataset covering reforms of domestic product markets, international trade, the domestic financial sector, and the external capital account, in 91 developed and developing countries. Among the key results of this study, the authors find that real and financial reforms (and, in particular, domestic financial liberalization, trade liberalization, and agricultural liberalization) boost income growth. However, growth effects differ significantly across alternative reform sequencing strategies: a trade-before-capital-account strategy achieves better outcomes than the reverse, or even than a "big bang"; also, liberalizing the domestic financial sector together with the external capital account is growth-enhancing, provided the economy is relatively open to international trade. Finally, relatively liberalized domestic financial sectors enhance the economy's resilience, reducing output costs from adverse terms-of-trade and interest-rate shocks; increased credit availability is one of the key mechanisms.

Author : Thorsten Beck,Samuel Munzele Maimbo
Publisher : World Bank Publications
Page : 255 pages
File Size : 45,9 Mb
Release : 2012-11-27
Category : Business & Economics
ISBN : 9780821396285

Get Book

Financial Sector Development in Africa by Thorsten Beck,Samuel Munzele Maimbo Pdf

This edited volume contains eight studies of financial sector challenges in Africa that served as background studies for Financing Africa: Through the Crisis and Beyond. One of the major challenges for African financial systems is to expand financial services to a larger share of the population. The chapters in this area cover microfinance in Africa, the role of technology, reforms of payment infrastructure, and financing agriculture. Two chapters cover challenges in increasing long-term finance; one covers housing finance and the other the role of sovereign wealth fund. The book also contains a detailed discussion of bank regulation and supervision, especially in light of the current regulatory reforms in Europe and North America. The final chapter provides a political economy perspective, discussing the conditions for activist government policies in the financial sector.

Author : Ngozi Okonjo-Iweala
Publisher : MIT Press
Page : 211 pages
File Size : 55,6 Mb
Release : 2014-08-29
Category : Business & Economics
ISBN : 9780262526876

Get Book

Reforming the Unreformable by Ngozi Okonjo-Iweala Pdf

A report on development economics in action, by a crucial player in Nigeria's recent reforms. Corrupt, mismanaged, and seemingly hopeless: that's how the international community viewed Nigeria in the early 2000s. Then Nigeria implemented a sweeping set of economic and political changes and began to reform the unreformable. This book tells the story of how a dedicated and politically committed team of reformers set out to fix a series of broken institutions, and in the process repositioned Nigeria's economy in ways that helped create a more diversified springboard for steadier long-term growth. The author, Harvard- and MIT-trained economist Ngozi Okonjo-Iweala, currently Nigeria's Coordinating Minister for the Economy and Minister of Finance and formerly Managing Director of the World Bank, played a crucial part in her country's economic reforms. In Nigeria's Debt Management Office, and later as Minister of Finance, she spearheaded negotiations with the Paris Club that led to the wiping out of $30 billion of Nigeria's external debt, 60 percent of which was outright cancellation. Reforming the Unreformable offers an insider's view of those debt negotiations; it also details the fight against corruption and the struggle to implement a series of macroeconomic and structural reforms. This story of development economics in action, written from the front lines of economic reform in Africa, offers a unique perspective on the complex and uncertain global economic environment.

Author : Mr. Ross Levine
Publisher : International Monetary Fund
Page : 80 pages
File Size : 53,7 Mb
Release : 2021-06-11
Category : Business & Economics
ISBN : 9781513583365

Get Book

Finance, Growth, and Inequality by Mr. Ross Levine Pdf

Finance and growth emerged as a distinct field of economics during the last three decades as economists integrated the fields of finance and economic growth and then explored the ramifications of the functioning of financial systems on economic growth, income distribution, and poverty. In this paper, I review theoretical and empirical research on the connections between the operation of the financial system and economic growth and inequality. While subject to ample qualifications, the preponderance of evidence suggests that (1) financial development—both the development of banks and stock markets—spurs economic growth and (2) better functioning financial systems foster growth primarily by improving resource allocation and technological change, not by increasing saving rates. Some research also suggests that financial development expands economic opportunities and tightens income distribution, primarily by boosting the incomes of the poor. This work implies that financial development fosters growth by expanding opportunities. Finally, and more tentatively, financial innovation—improvements in the ability of financial systems to ameliorate information and transaction costs—may be necessary for sustaining growth.

Author : Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe
Publisher : International Monetary Fund
Page : 79 pages
File Size : 51,9 Mb
Release : 2016-09-14
Category : Business & Economics
ISBN : 9781475532401

Get Book

Financial Development in Sub-Saharan Africa by Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe Pdf

This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.

Author : Adeolu B. Ayanwale
Publisher : Unknown
Page : 56 pages
File Size : 42,7 Mb
Release : 2007
Category : Investments, Foreign
ISBN : STANFORD:36105133578794

Get Book

FDI and Economic Growth by Adeolu B. Ayanwale Pdf