TO GET THE COMPLETE JOURNAL/THESIS FOR TOPIC BELOW,
CALL: 08168759420, 08068231953
WHATSAPP: 08137701720
EFFECT OF FINANCIAL SECTOR DEVELOPMENT ON MANUFACTURING OUTPUT GROWTH IN NIGERIA (1986-2012): A VECTOR AUTO REGRESSION APPROACH
Previous studies have examined the effect of financial sector development on manufacturing output growth without examining its effect on the disaggregated manufacturing output growth in Nigeria; hence, the present study filled this gap. The study employed Vector Autoregression (VAR) analysis to test whether or not financial sector variables stimulate the growth of output in manufacturing sector of the Nigerian economy, by maintaining interactions with some key macroeconomic variables in the Nigerian economy using annual data from 1986 to 2012. The study also applied unit root and Johansen cointegration tests to examine the behaviour of the macro data. The result suggests that relaxing financial development constraints and deepening the financial sector are crucial to boosting the manufacturing output growth in Nigeria.
Key words: Manufacturing sector, Economic growth, VAR, Cointegration, Variance Decomposition and Impulse Response