文章基本信息

标题：SME Credit Financing, Financial Development and Economic Growth in Nigeria
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作者：Y Olorunfemi Alimi ; Olumuyiwa Ganiyu Yinusa
期刊名称：African Journal of Economic Review
印刷版ISSN：1821-8148
出版年度：2016
卷号：4
期号：2
页码：1-15
语种：English
出版社：African journals online
摘要：This paper examines the impact of small and medium-scale enterprises (SMEs) credit financing and financial market development and their shocks on the output growth of Nigeria. The study estimated a VAR model for Nigeria using 1970-2013 annual data series. Unit root tests and cointegration are carried out. The study explores IRFs and FEVDs in a system that includes output, commercial bank loan to SMEs, domestic credit to private sector by banks, money supply, lending rate and investment. Findings suggest that shocks in commercial bank credit to SMEs has a major impact on the output changes of Nigeria. Money supply shocks also have a sizeable impact on output growth variations amidst other financial instruments. Lastly, neutrality of investment does not hold in Nigeria as it also has impact on output fluctuations.
关键词：SMEs financing;financial development;investment;output;Nigeria