Economic and Financial Review


Central Bank of Nigeria


Finance, Economic Growth, Policy Options, Emerging Economies, Developing Economies, Nigeria


This paper attempts to address the issues of the major impediments to mobilising investment funds, and the appropriate policies for achieving and guaranteeing finance for growth, by assessing the performance of financial policies of selected EMEs in mobilising financial resources for economic growth, and identifying policy options necessary for achieving finance for growth. The rest of the paper is organised as follows. Section 2 discusses the basic characteristics of emerging economies (EMEs), and Section 3 positions Nigeria among the EMEs within the context of finance for growth. Section 4 deals with challenges and constraints of Nigeria in achieving finance for growth, and Section 5 provides possible policy options and conclusion.

Author Bio

The author(s) Wumi Olayiwola is in the Economic Policy Analysis Unit (EPAU) of the Macroeconomic Policy Department, ECOWAS Commission, Abuja, while Henry Okodua and Evans Osabuohien are of the Department of Economics and Development Studies, Covenant University, Sango-Ota, Nigeria.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Olayiwola, Wumi; Okoduwa, Henry and Osubuohien, Evans (2011). Finance for Growth and Policy Options for Emerging and Developing Economies: Nigeria. CBN Economic and Financial Review. 49(4), 133-159.



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