Pension Fund, Financial Development and Output Growth in Nigeria
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Date
2020-03-03
Authors
Iwegbu, O.
Journal Title
Journal ISSN
Volume Title
Publisher
Bullion
Abstract
This study examines the indirect effect of pension fund on economic growth in Nigeria through the financial system. Using Autoregressive Distributive Lag (ARDL) model, the study found out that pension fund contribution is effective in stimulating growth through investment in portfolios that yield short term returns; this implies that pension fund contribution cannot on its own without a credible financial system impact on economic growth. The policy implication of this study is for Pension Fund Administrators (PFAs) to invest in portfolios with short-term returns; thus, a large chunk of funds invested in federal government securities should be unbundled to other portfolios that yield shortterm returns.
Description
Staff publications
Keywords
Pension Funds , Financial Development , Economic Growth , Autoregressive Distributed Lag Model (ARDL) , Research Subject Categories::SOCIAL SCIENCES::Business and economics::Economics
Citation
Iwegbu, O. (2020). Pension Fund, Financial Development and Output Growth in Nigeria. Bullion, 44(1), 17 – 26.