Effect Of Bank Lending Rate On The Manufacturing Sector In Nigeria (1995-2017)
ABSTRACT
The study investigated the effect of bank lending rate on output of manufacturing sectorin Nigeria. Time series data spanning from 1995 to 2017 was sourced from Central Bank of Nigeria statistical bulletin and the method of data analysis was the ordinary least squares (OLS) technique. Manufacturing sector output was measured by manufacturing sector contribution to real gross domestic product. Having analyzed the data, it was found that lending rate has a negative and insignificant effect on output of manufacturing sector in Nigeria. On the other hand, the effect of exchange rate and loans and advances was positive and significant on output of manufacturing sector in Nigeria. Based on the findings, it was recommended among other things that there should be review of monetary policy with the target of increasing money supply so as to be able to reduce the costs of borrowing (interest rate). The achievement of this will encourage investors to borrow more for productive activities.
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OKPARANDUK, E (2021). Effect Of Bank Lending Rate On The Manufacturing Sector In Nigeria (1995-2017). Mouau.afribary.org: Retrieved Nov 17, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-bank-lending-rate-on-the-manufacturing-sector-in-nigeria-1995-2017-7-2
ESTHER, OKPARANDUK. "Effect Of Bank Lending Rate On The Manufacturing Sector In Nigeria (1995-2017)" Mouau.afribary.org. Mouau.afribary.org, 16 Jun. 2021, https://repository.mouau.edu.ng/work/view/effect-of-bank-lending-rate-on-the-manufacturing-sector-in-nigeria-1995-2017-7-2. Accessed 17 Nov. 2024.
ESTHER, OKPARANDUK. "Effect Of Bank Lending Rate On The Manufacturing Sector In Nigeria (1995-2017)". Mouau.afribary.org, Mouau.afribary.org, 16 Jun. 2021. Web. 17 Nov. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-bank-lending-rate-on-the-manufacturing-sector-in-nigeria-1995-2017-7-2 >.
ESTHER, OKPARANDUK. "Effect Of Bank Lending Rate On The Manufacturing Sector In Nigeria (1995-2017)" Mouau.afribary.org (2021). Accessed 17 Nov. 2024. https://repository.mouau.edu.ng/work/view/effect-of-bank-lending-rate-on-the-manufacturing-sector-in-nigeria-1995-2017-7-2