This study examined the extent of relationship that exists between fund mobilization and economic growth in Nigeria from 1990 to 2019 using secondary data obtained from published works and CBN Statistical Bulletin. Bank Deposit BDEP , Gross Domestic Savings GDS and Gross Domestic Investments GDI were used to proxy fund mobilization, while Gross Domestic Product GDP , Per Capital Income PCI and Employment Rate EMR were also used to proxy Economic growth. The formulated hypotheses were regressed using Ordinary Least Square method. The result revealed that fund mobilization has significant relationship on GDP, but insignificant relationship on PCI and EMR. That means that fund mobilization increased the National Wealth GDP , without having any significant increase on people's standard of living PCI and EMR . Based on that result, attainment of a sustainable economic growth is a mere dream. The study advocates for citizenship advancement policy that will create more jobs which will enhance the standard of living of the populace. Again public goods and Education investment programs that can give the citizens equal opportunity to self development can serve as a bailout. Amakor, Ifeoma Chinelo | Eneh, Onyinye Maria-Regina "Fund Mobilization and Sustainable Economic Growth; the Nigerian's Experience" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6 , October 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47568.pdf Paper URL : https://www.ijtsrd.com/management/accounting-and-finance/47568/fund-mobilization-and-sustainable-economic-growth-the-nigerian's-experience/amakor-ifeoma-chinelo
International Journal of Trend in Scientific Research and Development (IJTSRD)
Volume 5 Issue 6, September-October 2021 Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470
@ IJTSRD | Unique Paper ID – IJTSRD47568 | Volume – 5 | Issue – 6 | Sep-Oct 2021
Page 1026
Fund Mobilization and Sustainable Economic
Growth; the Nigerian’s Experience
Amakor, Ifeoma Chinelo PhD1; Eneh, Onyinye Maria-Regina PhD2
1Department of Banking and Finance, Nnamdi Azikiwe University, Awka, Nigeria
2Department of Accountancy, Nnamdi Azikiwe University, Awka, Nigeria
ABSTRACT
This study examined the extent of relationship that exists between
fund mobilization and economic growth in Nigeria from 1990 to
2019 using secondary data obtained from published works and CBN
Statistical Bulletin. Bank Deposit (BDEP), Gross Domestic Savings
(GDS) and Gross Domestic Investments (GDI) were used to proxy
fund mobilization, while Gross Domestic Product (GDP), Per Capital
Income (PCI) and Employment Rate (EMR) were also used to proxy
Economic growth. The formulated hypotheses were regressed using
Ordinary Least Square method. The result revealed that fund
mobilization has significant relationship on GDP, but insignificant
relationship on PCI and EMR. That means that fund mobilization
increased the National Wealth (GDP), without having any significant
increase on people’s standard of living (PCI and EMR). Based on
that result, attainment of a sustainable economic growth is a mere
dream. The study advocates for citizenship advancement policy that
will create more jobs which will enhance the standard of living of the
populace. Again public goods and Education investment programs
that can give the citizens equal opportunity to self development can
serve as a bailout.
KEYWORDS: Bank Deposit, Gross Domestic Savings, Gross
Domestic Investments, Gross Domestic Product, Per Capital Income
and Employment Rate
How to cite this paper: Amakor, Ifeoma
Chinelo | Eneh, Onyinye Maria-Regina
"Fund Mobilization an