Financial Development, Remittances Inflows and Economic Growth in Nigeria: A Time Series Analysis

Main Article Content

Eric Olabode Olabisi
Sunday Oseiweh Ogbeide

Abstract

This study examines whether financial development promotes remittances inflows and Nigerian economic growth. Using a time-series data for a period of 1985-2017, the Autoregressive Distributed Lag (ARDL) technique was employed. The results suggest that financial development in Nigeria exerted no significant impact on economic growth. It is an indication that financial development is not a significant variable for promoting remittances inflows into Nigeria. However, the study concludes that remittances inflows are a substitute for promoting individual’s financial business opportunities and economic growth. The study therefore recommends that the government should strengthen the Nigeria financial institution, and also institute a financial reform initiative that can enhance financial security as well as ease of accessing remittances inflows.

Keywords:
Autoregressive Distributed Lag (ARDL), economic growth, financial development and remittances inflows

Article Details

How to Cite
Olabisi, E. O., & Ogbeide, S. O. (2020). Financial Development, Remittances Inflows and Economic Growth in Nigeria: A Time Series Analysis. South Asian Journal of Social Studies and Economics, 7(4), 37-43. https://doi.org/10.9734/sajsse/2020/v7i430198
Section
Original Research Article

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