GLOBAL FINANCIAL CRISIS AND NIGERIAN ECONOMIC PERFORMANCE

Author: Patrick, Ologbenla Ph.D.

ABSTRACT

This study focused on the impact of global financial crisis on Nigeria economic performance proxied with GDP growth rate. Specifically, this study examined the effect of global financial crisis on real GDP growth rate.  Data used in the study covered the period 1991 to 2022 and were analyzed with descriptive statistics, Pearson correlation analysis method, as well as Autoregressive distributed lag co-integration approach. Result then revealed that global financial crisis has significant negative and insignificant positive effect on Nigeria economic performance that is the real GDP growth rate in the short run and long run respectively. The study recommended among others that government needs to enhance efforts geared towards technology advancement in the country as well as put in effort in enhancing agricultural products and other production activities in quantity and quality to reduce global financial crisis implication.

Keywords: Global Financial Crisis, Economic Performance, GDP Growth Rate.

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