The Evidence of Financial Innovation and Oil Rent in Nigeria

Ahmed Oluwatobi Adekunle ()
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Ahmed Oluwatobi Adekunle: Walter Sisulu University

Acta Universitatis Danubius. OEconomica, 2023, issue 19(5), 202-214

Abstract: This paper evaluates the connection amid oil and financial innovation in Nigeria. The study employed quantitative technique (ARDL method) for the period of 1985-2019. The results signify that long-run coefficients show no significant connection amid oil rent and financial innovation in Nigeria. Furthermore, a negative connection is established between the pair of variables. The study recommends that financial regulatory body should review and regulate the participation of financial institutions, especially the deposit money banks participating in oil and gas business.

Keywords: petroleum; financial; banking industry; oil prices (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:dug:actaec:y:2023:i:5:p:202-214

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