Theoretical Review on Future Financing and Investment in Nigeria
Keywords:
Finance, Investment, Securities, Environmental Issues, Function, Manufacturing, ChequesAbstract
Little is known about Future Financing and investments, as only a small number of surveys exist. This paper analyzed future finance and investments in our country of origin and covered current practices and motivations, obstacles to future finance and investment, addressing obstacles and other incentive mechanisms, and preferences for future finance and investment. Most countries strive to achieve high investment because of its literature acknowledged advantages as a tool of economic growth. Nigeria though faced by the problem of saving investment gap has one of its principal objectives under the new democratic dispensation as “the towards growth sustenance”. The result clearly shown that investment financing has a positive and strong relationship with economic growth in Nigeria, from the findings some of the problems of investment financing in Nigeria that were identified are the issues of Inadequate macroeconomic framework and policy inconsistencies, Low level of domestic savings, and Low return on investment. Therefore, the research recommended that government should pursue strong macroeconomic policies, improve economic efficiency, and increase public investment towards human capital development and improve infrastructures in the country to enhance productivity and efficiency.
References
. Adetiloye et al. (2019), the Causal Relationship between Savings and economic Growth: Some Evidence from MENA Countries. Paper Presented at the 30th MEEA Meeting in Altanta.
. Alimi and Olubusoye (2018), Savings and Economic Growth Nexus in Nigeria: Granger Causality and Cointegration
. Agrawal, P. (2018), The relationship between savings and growth in South Asia. Cointegration and causality evidence from Asia. Applied Economics, 33: 499-513 Analysis. Review of Economic and Business Studies, 3(1): 93-104.
. Asemota,( 2019).. “Investment and Nigeria’s Economic Growth: Reflections and Policy Issues”, selected papers for the 1998 Annual conference of the Nigerian Economic Society.
. Giannellis and Papadopoulos (2019) ‘‘Interest rates, Savings, and Growth in LDCs: An assessment of recent empirical research’’, World Development, Vol. 16, No. 5
. Central Bank of Nigeria, 2004. “Annual Report and Statement of Account”C.B.N., (2002) Statistical Bulletin.
. Demirgüç K. and Levine, R. (2016)Money, Banking and Financial Markets, New York; West Publishing Company
. Du and Li (2017) ‘‘Money and Capital or Financial deepening in Economic Development’’, Journal of Money, Credit and Banking, Vol. 10, No. 4
. Huang et al (2018). “Basic Econometrics”. Tata McGraw-Hill Publishing limited New Delhi.
. Iyoha, M.A. and Dickson Orikhi, 2016. “Explaining African Economic Growth Performance”: The case of Nigeria.
. Iyoha, M.A., 1998. “Rekindling Investment for Economic Development in Nigeria”: The Macroeconomic Issues.
. Levine, Loayza and Beck (2010). “A Sensitivity Analysis of Cross-Country Growth Regression”. American Economic Review 82 (4). “New Encyclopedia Britannica” Volume 4, London.
. Luckett, D.G., (1984), Money and Banking, New York; McGraw Hill
. Chen and Liao (2020) Money and Capital Market in Economic Development, Mobilization of private savings in Africa: a case study of Kenya’’, AERC
. Mohamed, S. A. E. (2014), Testing the relationship between Private Savings and Economic Growth in Bahrain. Global Journal of Commerce and Management Perspective, 4(6): 1-6.
. Ben Ali and Walid Ben Amar (2022) ‘‘Real interest rates and the National Centre for Economic Management and Administration Monograph Series No.1, Secreprint Nigerian, L.t.d., Ibadan.
. Ndubuisi, P. (2003). Fundamentals of Financial Management, WAP publishing, Abakaliki.
. Ndulu, BJ., (1990) ‘‘Growth and adjustment in Sub-Saharan Africa’’, a paper Presented at the World Bank Economic Issues Conference, Nairobi, Kenya, June
. Nnanna, O.J., 2004. “Finance, Investment and Growth in Nigeria”. Printed by Kas Arts Service.
. Okodua & Eze, (2019). “Savings, Investment and Growth patterns in Developed and Developing Countries”.
. Olayinka and Onakoya (2016). Business and Economic Research Methods, Don-Vinto Ltd, Lagos, 272P.
. (Ogunrinola & Adegbite, 2020) ‘‘An asset portfolio management model for Nigerian Commercial Banks: a case study’’, Department of Economics, University of Ibadan, MBA Project Report.
. Pagano, M. (1993). Financial Markets and Growth: An Overview, European Economic Review, 37, 613-622.
. Chakraborty and Ray (2021). Financial Management, New Delhi Vikas Publishers.
. Pinches, G.E. (1990). Essentials of Financial Management, Harper, Collins Pub.
. Pindcky, R.S. and D.L. Rubinfeld, 1998. “Econometric Models and Economic forecast”. Research Paper, African Economic Research Consortium, Nairobi.
. Revel J., (1975), Solvency and Regulation in Banks, Cardiff; University of Wales Press
. Rose L., (2004), Principles of Money, Banking and Financial Markets, New York; Basic Books Inc
. Schmidt-Hebbel, K. et al., 1996. “Savings and Investment: Paradigms, Policies”. The World Bank Research Observer 11, Vol., 1.
. Shapiro, A.C. (1990). Modern Corporate Finance. Macmillian Pub. Company
. Shaw, E., (1973), Financial Deepening in Economic Development, New York; Oxford University Press,
. Shimelis, K. H. (2014), Savings, Investment and Economic Growth in Ethiopia: Evidence from ARDL approach to co-integration and TYDL granger causality tests. Journal of Economics and International Finance, 6(10): 232-248
. Soyibo, A. and F. Adekanye, (1992), ‘‘Financial System Regulation, Deregulation and Savings Mobilization in Nigeria’’, African Economic Research Consortium, Nairobi
. Soyibo, A., (1991), ‘‘Managing bank assets in a depressed economy’’, a paper Presented at the Union Bank of Nigeria Area Managers' Conference, Ibadan,
. Stiglitz, J.L., 1998. “Banks versus Markets as Mechanism for Allocating and Coordinating Investment” NBER working paper.
. Sultan, Z. A. and Haque, M. I. (2011), The estimation of the co-integration relationship between Growth, Domestic Investment and Export in Indian economy. International Journal of Economics and Finance, 3(4): 226-232
. Turan, G. and Olesia, G. (2014), what is the impact of savings on economic growth? The case of Small Open Economy in Albania. Mediterranean Journal of Social Sciences, 5(13): 360-368
. Van-Horne, J.C. (1977). Financial Management, Eaglewood, New Jersey, Prentice hall Inc.
. Wang and Tan (2021) Savings, Investment and Growth in India: An Application of the ARDL Bounds Testing Approach. South Asia Economic Journa, 8(1), 87-98.
. Zhang and Chen (2019). Savings, Investment, Foreign Inflows and Economic of the Indian Economyn 1950-2001. Economics Working Paper Series, University of Wollongong Washington, DC; The Brookings Institution.
. Zhang and Li (2016) capital budgeting Techniques, Hong Kong, John Wiley and sons.
. Zoltan. (2015). The Impact of Foreign Capital Inflows on Economic Growth, Savings and Investment in Ethiopia. Unpublished M.Sc. Thesis, Addis Ababa University.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2023 International Journal of Formal Sciences: Current and Future Research Trends
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Authors who submit papers with this journal agree to the following terms.
