Exploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria

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dc.contributor.advisorAlhassan, Abdul Latif
dc.contributor.authorMohammed, Aliyu Mustapha
dc.date.accessioned2019-08-16T09:57:51Z
dc.date.available2019-08-16T09:57:51Z
dc.date.issued2019
dc.date.updated2019-08-16T08:40:49Z
dc.description.abstractThere is growing enthusiasm about the role of mobile money in promoting economic growth and its contribution to poverty alleviation via opportunities for savings, credit, investments, and micro insurance. However, the link between mobile money and economic growth has yet to receive wide empirical examination in developing economies. The Nigerian government has embarked on various interventions, often associated with high costs, to promote the adoption of mobile money services. Whether or not these efforts link to economic growth can only be established through research. This study has aimed at exploring the nature of the relationship between mobile money development and economic growth in Nigeria. It has used a quarterly volume of mobile money transactions and real GDP as proxies for mobile money development and economic growth respectively. The study employed the ARDL bounds tests techniques by Pesaran, Shin, and Smith (2001), along with Augmented Dickey-Fuller tests and causality tests developed by Granger (1969) on time series data from Q12010 to Q42016. Data was obtained from the Central Bank of Nigeria’s (CBN) statistics database and the Nigerian National Bureau of Statistics. Evidence of a long run relationship between mobile money and economic growth was established. The causality pattern discovered has revealed that changes in economic growth have shown a significant influence on mobile money but not vice versa. It was specifically found that with each 0.8 million Naira increase in Nigeria’s GDP, a million increases in mobile money transaction occurred. It was recommended that Nigeria’s policy makers should focus on policies with stronger effects on economic growth, spill-over effects of which would promote mobile money penetration in the long run. Future research may concentrate on identifying the specific areas with stronger effects on economic growth for the attention of policy makers and opinion formers. It was suggested that the scope of the study be expanded to cover wider periods and more countries within sub-Saharan Africa.
dc.identifier.apacitationMohammed, A. M. (2019). <i>Exploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria</i>. (). ,Faculty of Commerce ,Graduate School of Business (GSB). Retrieved from http://hdl.handle.net/11427/30486en_ZA
dc.identifier.chicagocitationMohammed, Aliyu Mustapha. <i>"Exploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria."</i> ., ,Faculty of Commerce ,Graduate School of Business (GSB), 2019. http://hdl.handle.net/11427/30486en_ZA
dc.identifier.citationMohammed, A.M. 2019. Exploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria. . ,Faculty of Commerce ,Graduate School of Business (GSB). http://hdl.handle.net/11427/30486en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Mohammed, Aliyu Mustapha AB - There is growing enthusiasm about the role of mobile money in promoting economic growth and its contribution to poverty alleviation via opportunities for savings, credit, investments, and micro insurance. However, the link between mobile money and economic growth has yet to receive wide empirical examination in developing economies. The Nigerian government has embarked on various interventions, often associated with high costs, to promote the adoption of mobile money services. Whether or not these efforts link to economic growth can only be established through research. This study has aimed at exploring the nature of the relationship between mobile money development and economic growth in Nigeria. It has used a quarterly volume of mobile money transactions and real GDP as proxies for mobile money development and economic growth respectively. The study employed the ARDL bounds tests techniques by Pesaran, Shin, and Smith (2001), along with Augmented Dickey-Fuller tests and causality tests developed by Granger (1969) on time series data from Q12010 to Q42016. Data was obtained from the Central Bank of Nigeria’s (CBN) statistics database and the Nigerian National Bureau of Statistics. Evidence of a long run relationship between mobile money and economic growth was established. The causality pattern discovered has revealed that changes in economic growth have shown a significant influence on mobile money but not vice versa. It was specifically found that with each 0.8 million Naira increase in Nigeria’s GDP, a million increases in mobile money transaction occurred. It was recommended that Nigeria’s policy makers should focus on policies with stronger effects on economic growth, spill-over effects of which would promote mobile money penetration in the long run. Future research may concentrate on identifying the specific areas with stronger effects on economic growth for the attention of policy makers and opinion formers. It was suggested that the scope of the study be expanded to cover wider periods and more countries within sub-Saharan Africa. DA - 2019 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PY - 2019 T1 - Exploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria TI - Exploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria UR - http://hdl.handle.net/11427/30486 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/30486
dc.identifier.vancouvercitationMohammed AM. Exploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria. []. ,Faculty of Commerce ,Graduate School of Business (GSB), 2019 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/30486en_ZA
dc.language.rfc3066eng
dc.publisher.departmentGraduate School of Business (GSB)
dc.publisher.facultyFaculty of Commerce
dc.titleExploring the Relationship Between Mobile Money Development and Economic Growth: Evidence from Nigeria
dc.typeMaster Thesis
dc.type.qualificationlevelMasters
dc.type.qualificationnameMCom (Development Finance)
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