Bank Credits to Agricultural and Manufacturing sectors and Economic Growth in Nigeria, 1970 – 2013

Ipalibo Watson Sogules and Emeka Nkoro
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Ipalibo Watson Sogules: University of Port Harcourt, Port Harcourt, Rivers State, Nigeria

International Journal of Economics and Financial Research, 2016, vol. 2, issue 4, 74-78

Abstract: This study examined the impact of Bank credits to agricultural and manufacturing sectors on economic growth in Nigeria using annual time series data from 1970-2013. Using co-integration and error correction mechanism for the analysis, the study revealed that a long run relationship exists between Bank credits to agricultural and manufacturing sectors and economic growth. Given the error correction mechanism results, the study showed that Bank credits to agricultural sector exhibited an insignificant negative impact on economic growth while Bank credits to manufacturing sector exhibited a negative significant impact on economic growth in Nigeria. Based on these findings, the study recommends among others: Bank Credits to the Agricultural and Manufacturing Sectors should be properly monitored to ensure that funds meant for agricultural and manufacturing activities are not diverted for other purposes, Intending recipients of these Bank credits to the agricultural and manufacturing sectors should be made to undergo entrepreneurial training and how to pay back as at when due, so as to reduce the risks associated in giving out these Credits to the Agricultural and Manufacturing Sectors entrepreneurs.

Keywords: Bank Credits; Agricultural Sector; Manufacturing Sector; Economic Growth. (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:arp:ijefrr:2016:p:74-78

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