Competition in the Financial Sectors: Identifying Sectoral and Systemic Fallows for the Financial Sector of the Economy

Abstract

The global financial system has witnessed rapid growth and substantial structural change during the last ten years leading to globalization of financial markets. The integration of financial markets has accentuated the rapid flow of capital across borders as well as magnified the contagious effects of financial crisis with wide implications for transmission of financial policies on the domestic economy and internationally, which is evident in Nigeria’s financial system. Consequently, the Nigerian financial sector has to be abreast of reforms that should be sustained in an orderly manner, for appropriate channeling of resources for investment and productive purposes.

Keywords: Financial sector, Financial development, Policy measure, Economic growth, Economic   performance, Business performance.