信贷供应异常增长对尼日利亚经济增长的影响

Peterson K. Ozili, Olajide Oladipo, Paul Terhember Iorember
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引用次数: 2

摘要

目的本文在控制了法律体系质量、央行资产规模、银行部门成本效率和银行破产风险后,研究了信贷供应异常增长对尼日利亚经济增长的影响。设计/方法/方法作者采用广义矩量法(GMM)回归方法来估计信贷供应的异常增长对尼日利亚经济增长的两个指标的影响。信贷供应的异常增长增加了实际国内生产总值(GDP)的增长。在全球金融危机期间,信贷供应的异常增长降低了实际人均GDP。在尼日利亚法律体系质量良好的情况下,对私营部门的国内信贷异常增长对人均GDP产生了显著的积极影响。相比之下,在尼日利亚法律体系质量良好的情况下,对私营部门的国内信贷的异常增长对实际GDP增长产生了显著的负面影响。实际含义信贷供应的异常增长在危机年对人均GDP的增长无效。政策制定者应谨慎地向金融机构施压,要求其向经济释放异常大量的信贷,尤其是在金融危机期间。相反,政策制定者应该鼓励金融机构以持续的方式——而不是以异常的方式——并以支持增长的方式提供信贷。原创性/价值本研究通过分析发展中国家信贷供应异常增长对经济增长的影响,对文献做出了贡献。
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Effect of abnormal increase in credit supply on economic growth in Nigeria
PurposeThis paper investigates the effect of abnormal increase in credit supply on economic growth in Nigeria after controlling for the quality of the legal system, size of central bank asset, banking sector cost efficiency and bank insolvency risk.Design/methodology/approachThe authors employ the generalised method of moments (GMM) regression methodology to estimate the effect of abnormal increase in credit supply on two measures of economic growth in Nigeria.FindingsThe abnormal increase in credit supply has a significant effect on economic growth. Abnormal increase in credit supply increases real gross domestic product (GDP) growth. The abnormal increase in credit supply decreases real GDP per capita during the global financial crisis. The abnormal increase in domestic credit to the private sector has a significant positive effect on GDP per capita when there is strong legal system quality in Nigeria. In contrast, the abnormal increase in domestic credit to the private sector has a significant negative effect on real GDP growth when there is strong legal system quality in Nigeria.Practical implicationsThe abnormal increase in credit supply is ineffective in increasing GDP per capita during crisis years. Policymakers should be cautious in pressuring financial institutions to release an abnormally large amount of credit into the economy particularly during financial crises. Rather, policymakers should encourage financial institutions to supply credit in a sustained manner – not in an abnormal manner –and in a way that supports growth.Originality/valueThe present study contributes to the literature by analysing the effect of abnormal increase in credit supply on economic growth in a developing country context.
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来源期刊
CiteScore
3.20
自引率
7.70%
发文量
41
期刊介绍: African Journal of Economic and Management Studies (AJEMS) advances both theoretical and empirical research, informs policies and practices, and improves understanding of how economic and business decisions shape the lives of Africans. AJEMS is a multidisciplinary journal and welcomes papers from all the major disciplines in economics, business and management studies.
期刊最新文献
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