Impact of Bond Market Development on the Growth of the Nigerian Economy

Oke Michael O. (), Dada Oluwabunmi () and Aremo Nelson O. ()
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Oke Michael O.: Department of Finance, Faculty of Management Sciences, Ekiti State University, Ado-Ekiti, Nigeria
Dada Oluwabunmi: Department of Finance, Faculty of Management Sciences, Ekiti State University, Ado-Ekiti, Nigeria
Aremo Nelson O.: First Bank of Nigeria, Ltd. OBA Adesida Branch, Akure

Folia Oeconomica Stetinensia, 2021, vol. 21, issue 1, 60-75

Abstract: Research background: The traditional function ascribed to a modern financial institution is to mobilize resources among the two units (surplus and deficit) of the economy. This can be achieved when financial institutions wake up to this responsibility and act as the pillar upon which other institutions can rely on. Purpose: This study examined the impact of bond market development on the growth of the Nigerian economy from 1986–2018. Research methodology: Data were analysed using the co-integration bounds test approach while the robustness of the estimates was also checked. Results: Government bond exhibited an insignificant positive relationship; corporate bond and value of bond traded were positive and statistically significant (prob.

Keywords: bond market development; economic growth; corporate bond; value of bond traded; government bond; bond yield (search for similar items in EconPapers)
JEL-codes: E44 G12 G18 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:foeste:v:21:y:2021:i:1:p:60-75:n:5

DOI: 10.2478/foli-2021-0005

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