Recent Banking Reforms in Nigeria: Implications on Sectoral Credit Allocation and Economic Growth
Recent Banking Reforms in Nigeria: Implications on Sectoral Credit Allocation and Economic Growth
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尼日利亚最近的银行业改革：对部门信贷分配和经济增长的影响
DOI：
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发表时间：
2014
期刊：
影响因子：
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通讯作者：
Matthew Oladapo Gidigbi
中科院分区：
文献类型：
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作者：
A. O. Akpansung;M. Adama;Matthew Oladapo Gidigbi
自2004年以来，尼日利亚中央银行（CBN）已着手对银行部门进行了几次深入的改革，以加强迄今为止薄弱和分散的银行部门，使其能够充分履行其基本的中介职能。本文采用分析和最小二乘估计方法，研究了改革对部门信贷分配和经济增长的影响。我们发现，尽管商业银行的数量在改革期间大幅减少，但分配给活动部门（农业，采矿和采石业，制造业，通信和石油和天然气）的信贷有所改善。采矿采石业和石油天然气的系数在0.05水平上具有统计学显著性。我们的估计模型并不虚假，但意味着采矿和采石子行业的信贷分配增加1%，经济增长率提高了约52.4%，而石油和天然气子行业的信贷分配增加1%，经济表现则下降了约30.6%。我们建议中央银行继续进行银行部门改革，鼓励向优先活动部门分配大量信贷，根据新的挑战和机遇建设和提升经济的人力资源能力，并与系统中的其他机构和政策协同增效，以确保可持续的经济增长。
Since 2004, the Central Bank of Nigeria (CBN) has embarked on several intensive banking sector reforms to strengthen the hitherto weak and fragmented banking sector to adequately perform its essential intermediately functions. This paper examines the implications of the reforms on sectoral credit allocations and economic growth, using both analytical and ordinary least squares estimating techniques. We find that despite the drastic reduction in the number of commercial banks during the reform period, credit allocated to the activity sectors (agriculture, mining & quarrying, manufacturing, communication, and oil and gas) improved. The coefficients of mining & quarrying and oil & gas are found to be statistically significant at 0.05 level. Our estimated model is not spurious, but implies that one (1) percent increase in credit allocation to the mining & quarrying subsector improved economic growth by about 52.4 percent, while a similar one (1) percent increase in credit allocation to the oil & gas subsector impeded economic performance by about 30.6 percent. We recommend that the CBN should continue with its banking sector reforms, encourage substantial credit allocation to the prioritized activity sectors, build and upgrade the economy’s human capacity based on new challenges and opportunities, and synergize with other agencies and policies in the system to ensure sustainable economic growth.