Finance / ACIB
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Item Macroeconomic indicators and capital market performance: Are the links sustainable?(2020) Felicia O. Olokoyo; Abiola Babajide, Oyakhilome W. IbhaguiAbstract: This paper examines the long-run impact of macroeconomic indicators such as interest rate, foreign capital flows, exchange rate, GDP growth, inflation and trade on stock market performance (market capitalization) in Nigeria. Using data drawn from the World Development Indicators (WDI, 2018) and the Central Bank of Nigeria (CBN) Statistical Bulletin 2018, the study employed the VECM analysis. The results found suggest that 1) macroeconomic variables and stock market performance are cointegrated and thus linked in the long run; 2) interest rate, inflation and trade bear a negative relationship with stock market performance; and 3) exchange rate, GDP growth rate and foreign capital flows are positively related to stock market performance. Our results show that when there is a deviation from the long-run relation between stock market performance and mafcroeconomic fundamentals, it is primarily the stock market, interest rate and foreign capital flows that adjust to ensure that the long-run link is restored, whereas exchange rate, GDP growth, inflation and trade are weakly exogenous. We estimate that any disequilibrium emanating from interest rate is more than fully corrected in one year, in the oscillating convergence sense, while 29% and 5% of the disequilibrium from stock market and foreign capital flows are corrected in one year. A policy recommendation that emerges from the study is the need to strengthen policies aimed at improving the country’s macroeconomic environment. Specifically, this will involve policies aimed at lowering interest rate, increasing foreign capital flows and improving the country’s terms of trade. Subjects: Economics; Finance; Corporate Finance; Investment & SecuritiesItem Financial Inclusion and Economic Growth in Nigeria(International Journal of Economics and Financial Issues, 2015) Abiola A. Babajide; Folasade B. Adegboye; Alexander E. OmankhanlenFinancial development is not simply a result of economic growth; it is also the driver of economic growth. Financial inclusion (FI), a feature of fi nancial development, is a process that marks improvement in quantity, quality, and effi ciency of fi nancial intermediary services. It generates local savings, which increase productive investments in local businesses. This paper investigated the impact of FI on economic growth in Nigeria. It aimed to highlight the determinants of FI and its impact on economic growth. Secondary data were sourced from world development indicators and ordinary least square regression model was used to analyze the data. The result shows that FI is a signifi cant determinant of the total factor of production, as well as capital per worker, which invariably determines the fi nal level of output in the economy. This study recommends that natural and economic resources should be adequately harnessed, as alternative means of revitalization and diversifi cation of Nigeria’s oil-dependent monocultural economy.Item Impact of electronic banking technology on customers satisfaction and economic growth in Nigeria(International Journal of Civil Engineering and Technology, 2018) Isibor, A. A.; Omankhanlen, A. E.; Okoye, L. U.; Achugamonu, B. U.; Adebayo, M. E.; Afolabi, G. T.; Ayodeji, O. E.Various researchers have studied the impact of e-banking on banks’ performance, banks’ profit, and e-banking challenges, but this study is looking at its impact on both customers’ satisfaction and economic growth. The methodology employed for testing the hypotheses is a statistical parametric test called Pair Sample t-test through the use of SPSS statistical package. The study rejects both null hypotheses which mean that ebanking has improved both customers’ satisfaction and caused economic growth in Nigeria. The study recommends adequate legislation on all aspects of e-banking so that both the operators of the system and the public can be adequately protected. Also, banks should charge low or no fees for e-banking services in order to motivate their customers to take advantage of e-banking services.Item Credit Risk Management: Implications on Bank Performance and Lending Growth(Scholars Middle East Publishers, 2017) Taiwo J.N; Ucheaga, E.G; Achugamonu, B.U; Adetiloye, K.; Okoye, L.; Agwu, M.EThis study is an empirical investigation into the quantitative effect of credit risk management on the performance of Nigeria’s Deposit Money Banks (DMBs) and Bank lending growth over the period of 17 years (1998- 2014). Secondary data for empirical analysis was obtained from CBN Statistical bulletin 2014 and World Bank (WDI) 2015. The study employed multiple linear regression model to analyze the time series data. The result showed that sound credit management strategies can boost investors and savers confidence in banks and lead to a growth in funds for loans and advances which leads to increased bank profitability.. The findings revealed that credit risk management has an insignificant impact on the growth of total loans and advances by Nigerian Deposit money banks. The study therefore recommends that DMBs in Nigeria should strictly adhere to their credit appraisal policies which ensures that only credit worthy borrowers have access to loanable funds. Banks are to ensure that funds are allocated to borrowers with decent to high credit ratings.Collection