Bullion
Keywords
Central bank of Nigeria, Development finance, Monetary policy, CBN interventions, Economic development
Abstract
As encompassing as the development finance interventions of the Central Bank of Nigeria are, there appears to be a preference for the agricultural sector and the manufacturing sub-sector. The study applied the parametric ANOVA and the non-parametric Kruskal-Wallis Tests, to inferentially determine whether this is, indeed, the case. Findings, however, indicate that the intervention intensity is equal for all sectors, implying the Bank adopts a holistic, rather than preferential, approach to its development finance practice. This strategically engenders, among others, uniform development, inclusive growth and economic diversification. The interventions should be sustained and their coverage extended to other crucial sub-sectors such as mining & quarrying and education, given their strong potential for employment generation, human capital development and deepening of socio-economic inclusiveness.
Publication Title
Bullion
Issue
2
Volume
44
Recommended Citation
Okon, Xavier-Itam A.
(2020)
"Is Central Bank of Nigeria pursuing preferential development finance? some parametric and non-parametric evidence,"
Bullion: Vol. 44:
No.
2, Article 3.
Available at:
https://dc.cbn.gov.ng/bullion/vol44/iss2/3
Included in
Agricultural and Resource Economics Commons, Finance Commons, Growth and Development Commons