Quantitative Economics Research
Vol 1, No 1 (2018)

Empirical Assessment of Selected Financial Indicators and Nigeria Gross Domestic Product

Acha, Chigozie Kelechi (Unknown)
Umezurike, Chinaegbomkpa (Unknown)



Article Info

Publish Date
22 Apr 2018

Abstract

This study undertook an overview of the financial sector and considered the contributions of some selected financial indicators to the gross domestic product (GDP) in Nigeria. Data were obtained from the statistical bulletin of the Central Bank of Nigeria (CBN) for the period, 1990-2016. The variables considered include: Lending rate (LR), Real Interest rate (RIR), Money Supply (M2), Credit to Private Sector (CPS), Inflation rate (IR). Multiple regression analysis method was used to analyze the data. From the analysis, it is observed that credit to private sector (CPS) has a positive relationship with the GDP whereas the rest had negative relationship with the GDP. Further analysis using analysis of variance (ANOVA) showed that one of the factors (CPS) is significant. From the result obtained, it is recommended that the private sector should be given more access to credit. This will help in improving the economy since it has shown to have a positive relationship with the GDP.Keywords: Inflation; Lending rate; Money supply; Gross Domestic ProductJEL Codes: E43, E60, O40

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Journal Info

Abbrev

qer

Publisher

Subject

Economics, Econometrics & Finance

Description

Quantitative Economics Research is an International Journal publishes original and high quality applied research orientation in the field of economics that employ theoretical, empirical, and experimental methods. This journal also encourages review articles in particular innovative and fundamental ...