Oil Resource Earnings and the Nigerian Economy: Does Financial Development Matter?

نویسندگان

چکیده

The study investigates the role of financial sector in mobilization oil resources for development Nigerian economy. While period covers between 1981 and 2019, research utilizes principal component analysis (PCA) approach to construct a composite proxy from five variable indicators. Also, deploys fully modified ordinary least squares (FMOLS) estimate impact revenue on Nigeria’s economic growth. found that has positive significant effect In addition, growth is negative significant. But, interacted Hence, concludes that, while resource curse theory does not apply Nigeria during period, part proceeds channeled positively impacts Thus, recommends more robust development-related measures improve country an improved articulation investment earnings sector. JEL Classification: G20 O16 O43 Q32 Keywords: Oil revenue, Financial Development, Economic Growth, Principal Component Analysis (PCA), Fully Modified Ordinary Least Squares (FMOL) DOI: 10.7176/DCS/12-4-03 Publication date: April 30 th 2022

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ژورنال

عنوان ژورنال: Developing Country Studies

سال: 2022

ISSN: ['2224-607X', '2225-0565']

DOI: https://doi.org/10.7176/dcs/12-4-03