Effect of Interest Rate on the Growth of Manufacturing Sector in Nigeria
Effect of Interest Rate on the Growth of Manufacturing Sector in Nigeria
Author(s): Michael Isaac Opusunju, Murat Akyüz, Jiya Ndalo SanteliSubject(s): National Economy, Economic development, Financial Markets
Published by: SD Yayınevi
Keywords: Interest Rate; Capacity utilization; manufacturing output and growth of manufacturing sector;
Summary/Abstract: The study examined the effect of interest rate on the growth of manufacturing sector in Nigeria. Data was collected from secondary sources covering a period of 32 years from 1985-2015 and this data were obtained through the CBN Statistical bulletin and National bureau of statistics. The population of the study includes all the manufacturing firms in Nigeria. Unit root test and simple regression analysis was used to analysis data. The finding is that there is a significant effect of interest rate on growth of manufacturing sector in Nigeria. The study recommends that Banks in Nigeria should try to charge low interest rate to enable the growth of manufacturing sector since it statistically significant.
Journal: Sosyal Araştırmalar ve Davranış Bilimleri
- Issue Year: 5/2019
- Issue No: 9
- Page Range: 281-296
- Page Count: 16
- Language: English