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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,|
Manufacturing capacity utilisation,
Vector Error Correction Model (VECM)
|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.|
|Appears in Collections:||Economic and Financial Review|
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