The Effects of Global Financial Crisis on Nigerian Economy

International Journal of Investment and Finance Vol. 1 (1&2) pg. 11 – 21

13 Pages Posted: 30 Apr 2009 Last revised: 22 Mar 2017

Date Written: April 30, 2009

Abstract

The world economy is facing the most severe financial crisis since the Great Depression of the last century. The risk of global recession has heightened significantly and volatility of commodity prices, which is the mainstay of most developing countries like Nigeria, has increased further. If this situation continues to deteriorate, developing countries could be in great jeopardy. This study examined the influence of the Global Financial Crisis on Nigerian economy. It was discovered that the financial crisis will cause fall in commodity prices, decline in export, lower portfolio and FDI inflow, fall in equity market, decline in remittance from abroad etc. It was recommended that the federal government should come up with intervention policies that will minimize these effects and jump start the economy and that business operator should learn to do things using resources at their disposal to develop and expand at manageable level to stem the tide of the crisis.

Keywords: Financial crisis, Economy

Suggested Citation

Adamu, Abdul, The Effects of Global Financial Crisis on Nigerian Economy (April 30, 2009). International Journal of Investment and Finance Vol. 1 (1&2) pg. 11 – 21 . Available at SSRN: https://ssrn.com/abstract=1397232 or http://dx.doi.org/10.2139/ssrn.1397232

Abdul Adamu (Contact Author)

Nasarawa State University ( email )

P.M.B. 1022
Nasarawa state
Keffi, Nasarawa State 1022
Nigeria

Register to save articles to
your library

Register

Paper statistics

Downloads
4,787
rank
1,567
Abstract Views
24,597
PlumX Metrics
!

Under construction: SSRN citations while be offline until July when we will launch a brand new and improved citations service, check here for more details.

For more information