FINANCIAL SYSTEM CONTRIBUTION AND THE DEVELOPMENT OF NIGERIAN ECONOMY (2000-2023)

This study access financial system contribution on development of Nigerian Economy. Ex-post facto research design was employed with a scope that spanned between 2000-2023.Various pre and post estimation tests were conducted. ARDL was used as the main estimation technique. The study found that in the long-run stock market capitalization has negative and insignificant effect on RGDP in Nigeria. The study also found that in the long-run credit to private sector has positive and insignificant effect on RGDP in Nigeria. The study concluded that financial system contribution affects development of Nigerian economy. The study therefore recommended that efforts should also be made to deepen market participation by encouraging the listing of more productive firms, especially from the real sector, to ensure that capital raised in the stock market is channeled into sectors that can drive economic growth. Policymakers and financial institutions should work on improving accessibility and affordability of credit, especially for micro, small, and medium enterprises (MSMEs).

0 18 May, 2025

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JBMIC PORTAL SYSTEM

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