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Bullion

Authors

Abeng M. Okoi

Keywords

Financial sector outcomes in Nigeria: GDP, CBN, SAP.

Abstract

Prior to the adoption of the economic reforms measures of the 1980's, most African economies were predominantly characterised by extensive public ownership, management and control of productive and social infrastructures and institutions. This paper discuss the trend of investments and pension schemes with its risks and challenges in Nigeria. The study however confirmed the non applicability of the financial reform theory hypothesized by McKinnon and Shaw in Nigeria 'This Paper quantitatively examine the outcomes of financial sector reforms in Nigeria with a view to validating the applicability of the Mckinnon Shaw hypothesis of financial liberalization. The impact of reforms on savings mobilization, growth in real interest rates and other economic development indices in the last two decades are corollary objectives The paper also seeks to ascertain the nature and magnitude of the contribution of reforms to investment and the growth of the economy from '1981 to 2004. The study concluded that, commended current efforts of government in strengthening the prudential supervision of the financial institutions The study however confirmed the non applicability of the financial reform theory hypothesized by. McKinnon and Shaw in Nigeria .

Author Bio

The author is the staff of the Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

2

Volume

30

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