Abstract

 

International Journal of Management, Economics and Social Sciences
2020, Vol. 9(3), pp. 182 – 205.
ISSN 2304 – 1366
http://www.ijmess.com
DOI: 10.32327/IJMESS/9.3.2020.10

 

Institutional Quality, Financial Development and Inclusive Growth: Asymmetric Cointegration Approach

 

Olumuyiwa Ganiyu Yinusa1
Olalekan Bashir Aworinde2
Ibrahim Abidemi Odusanya3
1Dept. of Banking and Finance, Olabisi Onabanjo University, Ago-Iwoye, Nigeria
2Dept. of Economics, Pan-Atlantic University, Lagos, Nigeria
3Dept. of Economics, Olabisi Onabanjo University, Ago-Iwoye, Nigeria

 

ABSTRACT

The study examined the nexus between institutional quality, financial development and inclusive growth in Nigeria for the period 1984-2017. The study employed asymmetric cointegration approach to study the long-run relationship of institutional quality, financial development and inclusive growth in Nigeria. The results of the study showed that there is a long-run relationship between institutional quality, financial development and inclusive growth in Nigeria. It was also found that adjustments process to equilibrium for institutional quality, financial development and inclusive growth were asymmetric in Nigeria. The study therefore concludes that institutional quality and financial development are crucial variables that influence inclusive growth in Nigeria.


Keywords: Finance-growth link, institutional quality, financial development, inclusive growth, asymmetric cointegration
JEL: C20, N2, O43

 



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