Financial Deepening, Foreign Direct Investment and Output Performance in Nigeria

Alabi Mumeen Olatunbosun (), Tella Sheriffdeen Adewale (), Ibrahim Odusanya and Yinusa Olumuyiwa Ganiyu ()
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Alabi Mumeen Olatunbosun: Department of Economics, Olabisi Onabanjo University, Ago-Iwoye, Nigeria;
Tella Sheriffdeen Adewale: Department of Economics, Olabisi Onabanjo University, Ago-Iwoye, Nigeria;
Yinusa Olumuyiwa Ganiyu: Department of Accounting, Banking and Finance, Olabisi Onabanjo University, Ago-Iwoye, Nigeria;

Scientific Annals of Economics and Business, 2018, vol. 65, issue 2, 193-204

Abstract: This study examines the relationship between financial deepening, foreign direct investment and output performance in Nigeria from 1980-2015 using the Autoregressive Distributed Lag (ARDL) Bound Test approach. A long-run relationship was established between financial deepening indicators, foreign direct investment and output performance in Nigeria. Foreign direct investment and market capitalization as a percentage of the GDP exerted significantly on output performance both in the short-run and in the long-run periods. It is recommended that financial depth should be enhanced through improved and highly efficient provision of credit by banks to the real sector of the Nigerian economy.

Keywords: financial sector; co-integration; output; Nigeria (search for similar items in EconPapers)
JEL-codes: C32 E44 E51 G20 (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:aicuec:v:65:y:2018:i:2:p:193-204:n:1

DOI: 10.2478/saeb-2018-0007

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