Please use this identifier to cite or link to this item: http://localhost:8080/xmlui/handle/123456789/2853
Title: IMPACT OF FINANCIAL SECTOR DEVELOPMENT ON EMPLOYMENT GENERATION IN NIGERIA
Authors: Wuyep, Tony
Keywords: Financial Development
Employment Generation
Money supply
Stock market
Issue Date: 1-Aug-2017
Publisher: International Journal of Accounting, Finance and Information System (IJAFIS)
Series/Report no.: Vol. 1;No. 1
Abstract: The study examines the influence of financial sector development on employment generation in Nigeria between 1999 and 2015 using Ordinary Least Square (OLS) regression method. Findings from the study showed that money supply has a significant relationship with Nigeria's employment levels. It showed that money supply has contributed immensely to the growth of employment levels. However, we found insignificant evidence that bank credit to private sector exerted positively to employments. This means loans from bank to private sector did go into the hands of businessmen who invested these funds into the economy thus the insignificant impact. The direct relationship between stock market capitalization and employment creation shows that an increased activity in the financial sector leads to higher employment levels, other things being equal. This is an indication that the lending activities of the banks have not really impacted on the economic progress of the country. Meanwhile, banks are expected to channel mobilized sayings to investors inform of loans and advances. Hence, the pointer is to identify those constraints and bottlenecks that are making it difficult for banks to make loans available to private market participants. Therefore, there is the need for consistent, transparent and fair policy to all the players in the sector, the need to develop viable and responsive financial services for the poor in Nigeria, government should pay off all creditor contractors so that they can pay banks and take new loans and also restore some of them to good financial health.
URI: http://localhost:8080/xmlui/handle/123456789/2853
Appears in Collections:Research Articles

Files in This Item:
File Description SizeFormat 
IMPACT OF FINANCIAL SECTOR DEVELOPMENT ON EMPLOYMENT....... (1).docMain Article209.3 kBMicrosoft WordView/Open


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.