FINANCIAL MARKET FUNDS AND ECONOMIC PERFORMANCE IN NIGERIA
Résumé
Abstract This study aims to evaluate the interrelationships among financial market funds and Nigeria's gross domestic product. specifically, the study examined how government securities, credit to private sector and equities influence gross domestic product. data utilized in the study were sourced from the Central Bank of Nigeria statistical bulletin of various issues. The study employed the descriptive statistics, unit root test, Johansen co-integration, error correction model, and Granger causality techniques at the 5% significance level.The study discovered that all the variables were integrated at first differencing; thus, necessitating the Johansen co-integration that validates the presence of long-run form. The result of the error correction model showed that credit to private sector was positive and significant to gross domestic product, equity was positive but insignificantly related to gross domestic product, and government securities had negative and insignificant relationship with to gross domestic product in Nigeria. For Granger causality, there was the presence of uni-directional movement from to gross domestic product to each of the independent variables in the study. The study concluded that commercial paper was the most significant aspect of financial market funds that promotes economic growth in Nigeria. The study recommended that government should ensure that funds made available for a particular project are directed to that project and should be fully accounted for by the monitoring team. Keywords: Government securities, equity, credit to private sector ,Economic performance
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