Monetary Policy Transmission Paths and Money Supply in Sub-Saharan Africa: Evidence from Nigeria and Ghana

Obinne, Ugwuanyi Georgina; Okon, Efanga Udeme; Chinelo, Okanya Ogochukwu

doi:10.53935/26415313.v4i2.187

Cited by 2 publications

(2 citation statements)

References 5 publications

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“…The relationship between digital finance and macroeconomic concepts has shown a positive impact, as evidenced by the study conducted by Obinne, Efanga, & Clifford [27]. Their research examined the influence of digital finance on the money supply in Nigeria.…”

Section: Review Of Related Literaturementioning

confidence: 99%

Efficacy of Digital Finance on Financial Inclusion: Evidence from the Nigerian Banking Industry

Enebeli-Uzor,

Mukhtar

2023

JEMT

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Globally, the number of adult population who do not have access to financial services continues to pose a challenge to economic development. The problem of financial exclusion is more acute in developing countries where more than half the adult population is unbanked. In 2021, 55 percent of the population of adults in Nigeria were unbanked, which created gaps in financial access for typically excluded and underserved adults, especially the vulnerable groups – the women, the poor, the less educated, the rural dwellers, the young, and those outside the labour force. The motivation for this study arose from a concern of how to use digital finance to bring those who are unbanked and financially excluded into the formal financial system. The study employed the quantitative research method using an ex-post facto research design. Annual time series data spanning from 2004 to 2020 was analysed using the ARDL estimator. The results reveal that commercial bank branches and internet access are the strongest drivers of financial inclusion in Nigeria in the short run. On the contrary, digital credit to the private sector and a period lag in interest rate hinder financial inclusion. In the long run, commercial bank branches, internet access, and exchange rates significantly affect financial inclusion. Conversely, digital credit to the private sector and lending rate are the critical factors contributing to financial exclusion. Based on the findings, the study suggests the need for a holistic financial framework that aims at incorporating the informal financial market into the mainstream financial system with the capacity to integrate majority of the financially excluded Nigerian adults. Such a robust framework should be digitally sensitive, politically neutral, financially inclusive, economically viable and spatially distributed for sustainability purposes.

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Section: Review Of Related Literaturementioning

confidence: 99%

Efficacy of Digital Finance on Financial Inclusion: Evidence from the Nigerian Banking Industry

Enebeli-Uzor,

Mukhtar

2023

JEMT

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“…Also, 19.3% of the vegetable farmers had between 16 and 20-years' experience, while only 7.3% had 21 or more years of experience. The years of farming experience shows that the farmers are relatively experienced and there is some level of specialization which would help in cost minimization and achieving greater efficiency" [23,27].…”

Section: Socioeconomic Characteristics Of Vegetable Farmersmentioning

confidence: 99%

Unlocking the Economic Potentials of Leafy Vegetable: A Case Study of Farmers in Akoko South West Local Government Area of Ondo State, Nigeria

Oladoyin,

Adegoroye,

Akinbola

et al. 2023

AJRAF

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This study analysed the economic potentials of leafy vegetable among farmers in Akoko South West Local Government Area of Ondo State, Nigeria. Primary data were used for this study with a well- structured questionnaire and personal interview for the collection of the data with a sample size of 150 farmers. The data were analyzed using descriptive statistics, budgetary technique and multiple regression analysis. The analysis of the data showed that about two-third of the farmers were male,74.7% married and the majority (58.7%) of the respondents were in their economic active age (41-50 years). Majority (94%) of the farmers were educated with the average farming experience of 14 years. The results also revealed that the major types of vegetables available in the study area were; Africa spinach, Pumpkin, water leaf, jute leaf and bitter leaf. The result on return on investment was 2.31, implying that for every N1 invested on vegetable production, there is a return of N2.31kobo which is an indication that the business is worthwhile. The study also revealed the gender, age of farmers, marital status, level of education and household size were the factors that significantly and positively influence leafy vegetable output in the area. The most serious problems encountered by the vegetable farmers were; inadequate capital, unstable price of vegetables, the incidence of pest, pilfering and theft and inadequate information. Thus, it is recommended that agricultural credit should be provided for vegetable farmers to boost vegetable production.

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Monetary Policy Transmission Paths and Money Supply in Sub-Saharan Africa: Evidence from Nigeria and Ghana

Cited by 2 publications

References 5 publications

Efficacy of Digital Finance on Financial Inclusion: Evidence from the Nigerian Banking Industry

Efficacy of Digital Finance on Financial Inclusion: Evidence from the Nigerian Banking Industry

Unlocking the Economic Potentials of Leafy Vegetable: A Case Study of Farmers in Akoko South West Local Government Area of Ondo State, Nigeria

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