Central Bank Intervention Schemes and Inclusive Growth in Sub-Saharan Africa: Empirical Evidence From Nigeria
Central Bank Intervention Schemes and Inclusive Growth in Sub-Saharan Africa: Empirical Evidence From Nigeria

Summary/Abstract: Sub-Saharan African economies are confronted with serious macroeconomic problems of extreme poverty and stagflation (high unemployment, slow growth rate and rising price). The region, no doubts needs urgent and special interventions to drive economic growth and development. In order to achieve inclusive growth, the monetary authorities in this region embarked on various initiatives aimed at stimulating growth through the development of the real sector, generate employment and industrialization. The study investigates one of the largest intervention programs in the region- Central Bank of Nigeria’s intervention programsits relationship with inclusive growth, achievements, impacts and challenges. A combination of primary and secondary data were analyzed using chi square and rank correlation coefficient. The results revealed a positive relationship between central bank intervention and inclusive growth but showed insignificant impact on Nigeria’s economy. The study recommends- enhanced monitoring, evaluation and strengthen the capacity of the Development Finance Institutions (DFIs). Develop and implement risk management framework; recovery strategy as over 50% of the intervention funds are already showing signs of distress.

• Details
• Contents