Empirical Analysis of Financial Development and Financial Inclusion Nexus in Nigeria

Onyinye Anthony-Orji, Orji Anthony (), Ogbuabor Jonathan E. () and Onwe Israel Emenike ()
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Orji Anthony: Department of Economics, University of Nigeria, Nsukka, Nigeria
Ogbuabor Jonathan E.: Department of Economics, University of Nigeria, Nsukka, Nigeria
Onwe Israel Emenike: Department of Economics, University of Nigeria, Nsukka, Nigeria
Authors registered in the RePEc Author Service: Anthony Orji

Economic and Regional Studies / Studia Ekonomiczne i Regionalne, 2022, vol. 15, issue 2, 181-195

Abstract: Subject and purpose of work: The literature on financial development and economic growth is expansive. The proportion of individuals and firms that use or have access to financial services can be referred to as the financially included. Considerable evidence shows that the poor benefit more from access to basic financial services such as payments, savings accounts and insurance. Thus, this study analysed the impact of financial inclusion on financial development in Nigeria between 1982 and 2019. Materials and methods: M ultiple r egression a nalysis w as e mployed i n t he s tudy i n o rder t o properly estimate the models and get robust results. Results: The findings reveal that financial inclusion has a minor impact on financial development. Investment was also shown to improve financial development. Conclusions: The study recommended that policies should be directed towards creating a more inclusive financial system in order to improve the current level of financial inclusion, so as to achieve better financial development in Nigeria.

Keywords: financial inclusion; financial development; investment; deposits (search for similar items in EconPapers)
JEL-codes: G21 G28 O16 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (2)

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Journal Article: Empirical analysis of financial development and financial inclusion nexus in Nigeria (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:ecoreg:v:15:y:2022:i:2:p:181-195:n:1

DOI: 10.2478/ers-2022-0012

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