DOES FINANCIAL SECTOR DRIVES SUSTAINABLE DEVELOPMENT IN NIGERIA
| dc.contributor.author | ADEMOKOYA ALADE AYODEJI | |
| dc.date.accessioned | 2024-08-02T16:54:32Z | |
| dc.date.available | 2024-08-02T16:54:32Z | |
| dc.date.issued | 2021 | |
| dc.description | This study examined the impact of major financial sector segments on Nigeria's economic, social, and environmental sustainability from 1986 to 2020. fThe study found that while the banking and stock market sub-sectors positively influence economic and social sustainability but harm environmental quality, the insurance sub-sector shows no significant impact on economic and social sustainability and negatively affects environmental safety, highlighting the need for regulatory focus on the banking and stock market sub-sectors to achieve sustainable development. | |
| dc.description.abstract | This study examines the major segments of the financial sector on the three main pillars of sustainable development (SD), which include economic, social, and environmental sustainability in Nigeria. The long-run associations for variables were confirmed using bound tests, while the autoregressive distributed lag was estimated. Time series data from 1986–2020 were obtained based on data availability. Findings reveal that the banking sub-sector positively affects economic sustainability, improves social sustainability, but negatively contributes to environmental quality in Nigeria. As for the stock market, there is environmental stewardship in Nigeria. However, the insurance sub-sector showed no significant impact on both economic and social sustainability and also negatively affected environmental safety in Nigeria. To achieve a sustainable Nigeria, it is therefore important that regulatory authorities pay attention to the banking and stock markets and sub-sectors of the financial sector. | |
| dc.description.sponsorship | SELF SPONSORED | |
| dc.identifier.citation | Ademokoya, A. A. (2021): Does financial sector drive sustainable development in Nigeria? Journal of Economics and Finance. 5(1):17-33, Published by the Department of Economics, Faculty of Arts and Social Sciences, Nigerian Defence Academy, Kaduna, Nigeria. Available online at https://www.academia.edu/120277999/DOES_FINANCIAL_SECTOR_DRIVE_SUSTAINABLE_DEVELOPMENT_IN_NIGERIA | |
| dc.identifier.issn | 2636-5332 | |
| dc.identifier.uri | https://kwasuspace.kwasu.edu.ng/handle/123456789/2109 | |
| dc.language.iso | en | |
| dc.publisher | The Department of Economics (JEF) Faculty of Arts & Social Sciences, Nigerian Defence Academy | |
| dc.relation.ispartofseries | 5; 1 | |
| dc.title | DOES FINANCIAL SECTOR DRIVES SUSTAINABLE DEVELOPMENT IN NIGERIA | |
| dc.type | Article |