Financial Development, Remittances Inflows and Economic Growth in Nigeria: A Time Series Analysis
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Date
2020-09-05
Journal Title
Journal ISSN
Volume Title
Publisher
South Asian Journal of Social Studies and Economics
Abstract
This study examines whether financial development promotes remittances inflows and Nigerian
economic growth. Using a time-series data for a period of 1985-2017, the Autoregressive
Distributed Lag (ARDL) technique was employed. The results suggest that financial development
in Nigeria exerted no significant impact on economic growth. It is an indication that financial
development is not a significant variable for promoting remittances inflows into Nigeria. However,
the study concludes that remittances inflows are a substitute for promoting individual’s financial
business opportunities and economic growth. The study therefore recommends that the
government should strengthen the Nigeria financial institution, and also institute a financial reform
initiative that can enhance financial security as well as ease of accessing remittances inflows.
Description
Staff Publication
Keywords
Autoregressive Distributed Lag (ARDL), Economic growth, Financial development, Remittances inflows.
Citation
Olabisi, E.O., & Ogbeide, S. (2020). Financial Development, Remittances Inflows and Economic Growth in Nigeria: A Time Series Analysis. South Asian Journal of Social Studies and Economics 7(4): 37-43