IIARD International Institute of Academic Research and Development

IIARD INTERNATIONAL JOURNAL OF BANKING AND FINANCE RESEARCH (IJBFR )

E-ISSN 2695-1886
P-ISSN 2672-4979
VOL. 9 NO. 3 2023
DOI: https://doi.org/10.56201/ijbfr.v9.no3.2023.pg191.228

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Impact of Banks’ Credits and Capital Market Dynamics on the Performance of the Manufacturing Sector in Nigeria: An ARDL Bounds Testing Approach

Lawrence, U. Egbadju

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Abstract

In this study, we examined the impact which bank credits and some capital market variables had on the performance of the Nigerian manufacturing sector. Secondary time series data from 1986 to 2017 was used which was analysed using an ARDL bounds testing to cointegration. The results showed that while MCR negatively and significantly impacted on manufacturing output, TVTR and ASI positively and significantly increased the growth of the manufacturing output. BCRM, on the other hand, impact on manufacturing output was positive but insignificant. We made some recommendations.

keywords:

Banks Credits, Capital Market Dynamics, Manufacturing Sector, ARDL-ECM

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References:

Abramova, M., Artemenko, D. & Krinichansky, K. (2022) Transmission channels between
financial
deepening and economic growth: econometric analysis comprising
monetary factors.
Mathematics, 10, 242.

Adediran, O. S. (2017)Financial development and inclusive growth in Nigeria: A multivariate
approach. Journal of Internet Banking and Commerce. 22(S8), 1-14

Ademola, I. S. (2012) Government Expenditure in the Manufacturing Sector and Economic
Growth in
Nigeria from 1981 – 2010. International Journal of Scientific &
Engineering Research, 3(11), 1-7.

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