Relationship Between Sustainable Financial Services and Poverty Reduction in Nigeria - Evidence from Error Correction Model PDF Download
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Author:
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Languages : en
Pages :
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Book Description
Abstract: The inflexibility of poverty is being met with increasing impatience from governments of diverse ideologies, donors and other international agencies. Recent data compilations show that many poor and non-poor people in many developing countries face a high degree of financial exclusion and high barriers in access to finance. Therefore, financial inclusion plays a critical role in reducing poverty. Hence, this paper examines the relationship between sustainable financial services and poverty reduction in Nigeria from 1965-2010 using Error Correction Model (ECM). It was observed that total value prime lending rate, financial savings, credit to private sector and rate of inflation all have significant impact on the financial deepening. In the final analysis, the study concludes that financial inclusion tends to strengthen financial deepening and provide resources to the banks to expand credit delivery thereby leading to financial development. The study therefore recommends that these f
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Abstract: The inflexibility of poverty is being met with increasing impatience from governments of diverse ideologies, donors and other international agencies. Recent data compilations show that many poor and non-poor people in many developing countries face a high degree of financial exclusion and high barriers in access to finance. Therefore, financial inclusion plays a critical role in reducing poverty. Hence, this paper examines the relationship between sustainable financial services and poverty reduction in Nigeria from 1965-2010 using Error Correction Model (ECM). It was observed that total value prime lending rate, financial savings, credit to private sector and rate of inflation all have significant impact on the financial deepening. In the final analysis, the study concludes that financial inclusion tends to strengthen financial deepening and provide resources to the banks to expand credit delivery thereby leading to financial development. The study therefore recommends that these f
Author: Folorunsho Ajide
Publisher:
ISBN:
Category :
Languages : en
Pages : 23
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Book Description
Studies have strengthened the importance of financial development as a veritable tool for poverty reduction. This study contributed to the existing literature by examining the effect of financial inclusion on poverty reduction in Nigerian rural communities using data from 1996-2013. Data sourced from Central bank of Nigeria (CBN), National Bureau of Statistics and World Bank data base were analyzed using Autoregressive Distributed Lag Modeling (ARDL). Bound test results showed that there was a long-run relationship among the variables. Both short and long run relationship confirmed the importance of financial inclusion as a suitable strategy for poverty reduction in rural communities. The finding of this paper has a clear-cut policy implication. As the beneficial effect of financial inclusion on rural poverty reduction is dampened or even cancelled out by cost of borrowing and degree of financial openness, the policy package must take into account the risk of interest charged by banks and financial exposure or openness of rural communities in Nigeria. This is because the levels of financial literacy are often low in rural areas. This does not allow people to understand financial services they have around them which may serve as an opportunity for banks to be exploited. The paper also recommended that monetary authorities should drive rural financial inclusion in the country.
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ISBN: 9781909336599
Category :
Languages : en
Pages :
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Author: Ubong Udonwa
Publisher:
ISBN:
Category :
Languages : en
Pages : 26
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Book Description
Fiscal policy is a financial tool used by the government to correct expected economic disturbances and reset the economy to an equilibrium state. Based on this course, the current study investigates fiscal policy and its effect on poverty reduction in Nigeria from the year 1970-2015. The model that was adopted for the study is the Autoregressive distributed lag model with the idea of capturing the dynamic responses of the endogenous variable caused by changes in the observed variable lags and the contemporaneous and lagged values of the other explanatory variables. The test for the presence of the Unit root was conducted using both Augmented Dickey-Fuller and Phillip Perron. The result shows that in the ADF result that all the variable were stationary at first difference while only the Overseas Development Assistance (ODA) was stationary at levels while the Phillip Perron result shows that only Other Government Revenue (OGR) and Overseas Development Assistance (ODA). The Narayan bound test co-integration test was conducted in a graphical form, following the result, there exists a long-run relationship in the model. The ARDL test which comprises of the long-run estimate and short-run reveals that the estimated coefficients of the dynamic models are smaller in the short-run as compare to the long-run estimate. Secondly, the diagnostic test shows that the error terms of the short-run models are normally distributed and are homoscedastic. Majority of the findings are revealed in the work. Based on this, the study recommends; focus more on the use of other government revenue sources (non-tax income) in the finance of their expenditures and implementation of programmes.
Author: Sylviane Guillaumont Jeanneney
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
This article investigates how financial development helps to reduce poverty directly through the McKinnon conduit effect and indirectly through economic growth. The results obtained with data for a sample of developing countries from 1966 through 2000 suggest that the poor benefit from the ability of the banking system to facilitate transactions and provide savings opportunities but to some extent fail to reap the benefit from greater availability of credit. Moreover, financial development is accompanied by financial instability, which is detrimental to the poor. Nevertheless, the benefits of financial development for the poor outweigh the cost.
Author: Michael U. Klein
Publisher: World Bank Publications
ISBN:
Category : Crecimiento economico
Languages : en
Pages : 50
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Book Description
In the 1990s, foreign direct investment began to swamp all other cross-border capital flows into developing countries. Does foreign direct investment support sound development? In particular, does it contribute to poverty reduction?
Author: Muhamed Zulkhibri
Publisher: Springer
ISBN: 3319697994
Category : Business & Economics
Languages : en
Pages : 336
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Book Description
This book explores the relationships between financial inclusion, poverty and inclusive development from Islamic perspectives. Financial inclusion has become an important global agenda and priority for policymakers and regulators in many Muslim countries for sustainable long-term economic growth. It has also become an integral part of many development institutions and multilateral development banks in efforts to promote inclusive growth. Many studies in economic development and poverty reduction suggest that financial inclusion matters. Financial inclusion, within the broader context of inclusive development, is viewed as an important means to tackle poverty and inequality and to address the sustainable development goals (SDGs). This book contributes to the literature on these topics and will be of interest to researchers and academics interested in Islamic finance and financial inclusion.
Author: Das, Ramesh Chandra
Publisher: IGI Global
ISBN: 1522552146
Category : Business & Economics
Languages : en
Pages : 412
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Book Description
Microfinance is a broad variety of services, such as microcredit, for entrepreneurs and small businesses lacking access to banking and other financial services. As many smaller businesses and entrepreneurs may not be able to secure credit services, many microfinance promoters believe that it encourages entrepreneurial activities and inclusive growth. Microfinance and Its Impact on Entrepreneurial Development, Sustainability, and Inclusive Growth is an essential resource that empirically explores the role of microfinance in entrepreneurship development and the operational sustainability of microfinance institutions. It also highlights the impact of microfinance on entrepreneurship development in different countries and regions. Featuring coverage on a broad range of topics such as risk management, women entrepreneurship, and strategic management, this book provides essential research for entrepreneurs, business managers, policy makers, researchers in the field of finance, and business professionals seeking relevant research on microfinance systems.
Author: Paul Mosley
Publisher: Oxford University Press, USA
ISBN: 0199692122
Category : Business & Economics
Languages : en
Pages : 430
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Book Description
Poor people everywhere are politically weak, and yet poverty in some developing countries has gone down dramatically. Why is this? Using nine country case-studies this book provides answers by examining government alliances, the role of aid donors and NGOs, and policies on labour, tax and expenditure.
Author: M. Grimm
Publisher: Springer
ISBN: 0230306624
Category : Business & Economics
Languages : en
Pages : 353
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Book Description
With the current global crisis, high levels of volatility in trade, capital flows, commodity prices, aid, and the looming threat of climate change, this book brings together high-quality research and presents conceptual issues and empirical results to analyze the determinants of the vulnerability to poverty in developing countries.
