You have no items in your shopping cart.
Summary
This study has empirically examined the effect financial sector development on economic growth in Nigeria. Annual time series data for 1985 to 2021 period were used and econometric tools such as the Augmented Decay Fuller unit root test and the ordinary least square techniques were used in the analysis of data. The summary of the findings are stated below: (i) That total stock of market capitalization (TSMC) though positively signed but failed the 5 percent level of significance; by implication, this variable does not play significant role in the development of the Nigerian economy. (ii) That deposit money banks assets (DMBA) has a weak inverse relationship with economic growth in Nigeria. (iii) That total insurance income (TIY) also has a weak negative impact on economic growth; and this simply suggests that total insurance income (TIY) does not plays significant role in the growth of the economy. (iv) That money supply (M2) has a weak positive relationship with economic growth, thus, the variable is not relevant factors for determining economic growth in the country. 61 (v) That lagged value of GDP is significant at the 1 percent level, this means that the past value of GDP significantly impact GDP than its current value.
