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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Financialisation and economic growth in Nigeria
Author:Udeogu, Ejike
Year:2016
Periodical:Review of African Political Economy (ISSN 0305-6244)
Volume:43
Issue:149
Pages:489-503
Language:English
Geographic term:Nigeria
Subjects:capitalism
financial market
economic policy
interest rates
investments
Link:https://doi.org/10.1080/03056244.2015.1085377
Abstract:In 1986, Nigeria implemented several of the recommended neoliberal reforms, which were embedded as policy prescriptions in the IMF/World Bank Structural Adjustment Programmes. The interest rate ceiling formerly subscribed to by the government was repealed and the tight control on the country's capital account was also deregulated. These two major policies precipitated huge increases in both the rate of interest charged by domestic financial institutions, and the amount of capital inflows into the economy. The main purpose of this article is to ascertain whether these neoliberal policies - capital account and interest rate deregulation - have succeeded in inducing growth in real investment in Nigeria, for which they were originally intended. Bibliogr., notes. [ASC Leiden abstract]
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