Please use this identifier to cite or link to this item: http://library.cbn.gov.ng:8092/jspui/handle/123456789/372
Title: Analysis of formal lending to the agricultural sector in Nigeria: 1978 - 1998
Authors: Philip, Dayo
Keywords: Formal lending
Agricultural sector
Issue Date: Sep-2001
Publisher: Central Bank of Nigeria, Research Department.
Citation: Philip, Dayo (2001). Analysis of formal lending to the agricultural sector in Nigeria: 1978 - 1998. Economic and Financial Review, 40(3), 40 - 58.
Series/Report no.: Vol. 40;No. 3
Abstract: The objective of this paper is to estimate the relationship between formal lending to agriculture and some assumed determinants of agricultural credit lending during the 1978-98 sample period. Lending by financial institutions to the agricultural sector was viewed for the purpose of model development in this study as the "supply of credit" to agriculture. Thus, the sets of determinants of agricultural credit supply to the Nigerian agricultural sector was assumed to consist of economic theory, policy and other variables. The models specified were estimated using the usual least squares procedure. The interest rate variable was negatively related to agricultural credit supply during the 1978- 86 sub-period, contrary to expectations. This was explained based on the regime of interest rate regulation prevailing prior to 1987. However, there was a net positive response of agricultural credit lending to the lending rate after interest rate deregulation from 1987, inclusive.
URI: http://library.cbn.gov.ng:8092/jspui/handle/123456789/372
ISSN: 1957 - 2968
Appears in Collections:Economic and Financial Review

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