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Finance and Growth in Nigeria: Does Measurement Matter?

Authors: Babatunde , Victor Ojapinwa, & LAWAL Esther

Publication Type: Journal article

Journal: Babcock Journal Of Economics, Banking & Finance

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Abstract

In this paper we examine the effect of financial development on economic growth within an endogenous growth framework. Time series data from 1961 to 2011 periods with three common measures of financial development were used. The study offered the Generalized Method of Moments (GMM) estimator, paying particular attention to issues of weighing matrix estimation and coefficient covariance calculation. Specifying HAC consistent estimator of the long-run covariance matrix based on an initial estimate, our results showed that the effect of the exogenous component of a financial intermediary development index on economic growth depended slightly on the definition and measurement of that index. Financial credit in private sectors and Liquid Liabilities indices. The effect became less significant when a liquidity index was used.

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Babatunde,A. Victor,T.O LAWAL,E. . (0000). Finance and Growth in Nigeria: Does Measurement Matter?, 1 (), 1-1.

Babatunde,A. Victor,T.O LAWAL,E. . "Finance and Growth in Nigeria: Does Measurement Matter?" 1, no (), (0000): 1-1.

Babatunde,A. and Victor,T.O and LAWAL,E. and . (0000). Finance and Growth in Nigeria: Does Measurement Matter?, 1 (), pp1-1.

BabatundeA, VictorTO, LAWALE, . Finance and Growth in Nigeria: Does Measurement Matter?. 0000, 1 ():1-1.

Babatunde,Adeoye , Victor,Taiwo Ojapinwa, and LAWAL,Esther . "Finance and Growth in Nigeria: Does Measurement Matter?", 1 . (0000) : 1-1.

B.Adeoye V.Taiwo Ojapinwa & L.Esther , "Finance and Growth in Nigeria: Does Measurement Matter?" vol.1, no., pp. 1-1, 0000.

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