Long-Run Relations Between the Financial Institutional Reforms and the Nigerian Manufacturing Performance (1970 - 2005)

Abstract

This paper investigates the impact of financial institutional reforms on the manufacturing performance in Nigeria. Co-integration and Error Correction Model (ECM) techniques were used on annual time series covering the period between 1970 and 2005. It was observed that, in general the financial institutional reforms did not have a significant impact on the Nigerian manufacturing sector performance during the period under review. In particular financial reforms exhibited an insignificant relationship with the share of manufacturing in GDP.