期刊名称：Journal of Economics and Sustainable Development
印刷版ISSN：2222-2855
电子版ISSN：2222-2855
出版年度：2015
卷号：6
期号：24
页码：79-83
语种：English
出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：An empirical investigation of the impact of financial development on economic growth in Nigeria was carried out in this paper by employing co integration test and VECM, using the data of annual time series for the period 1980 – 2013. The findings reveal the existence of 3 co integrating vectors which show a long run relationship among the variables. The VEC results show that the ratio of broad money supply to GDP and ratio of domestic credit to private sector to GDP have no significant impact on economic growth in Nigeria. The results suggest that economic growth can be enhanced through increases in ratio of broad money supply to GDP and ratio of domestic credit to private sector to GDP. Thus, if the objective of a policy is to sustain a high rate of economic growth in Nigeria, priority should be given to the development of financial sector. This paper finds support to “supply-leading” (i.e “finance- led growth”) economic growth.
