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Title: The impact of lending rate on the manufacturing sector in Nigeria
Authors: Akpan, D. B.
Yilkudi, D. J.
Opiah, D. C.
Keywords: Deposit money banks,
Lending rate,
Manufacturing capacity utilisation,
Manufacturing sector
Vector Error Correction Model (VECM)
Issue Date: Mar-2016
Publisher: Central Bank of Nigeria, Research Department.
Citation: Akpan, D. B., Yilkudi, D. J. and Opiah, D. C. (2016). The impact of lending rate on the manufacturing sector in Nigeria. CBN Economic and Financial Review, 54(1), 43-69.
Series/Report no.: Vol. 54;No. 1
Abstract: The study investigates the impact of lending rate on output of the manufacturing subsector using the vector error correction model and annual data from 1981 - 2014. The empirical results indicated that high lending rate had negative impact on manufacturing output in the long-run. The study, therefore recommends the implementation of investment friendly policies that narrows, the lending rate by the deposit money banks in order to stimulate output growth in the manufacturing sub-sector and allow global competitiveness of products.
ISSN: 1957-2968
Appears in Collections:Economic and Financial Review

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