Managing the Residual Impacts of Global Financial Crisis in Developing Economies: The Case of Nigeria

Abstract

Global Financial Crisis seems to have gone but the residual impacts are still around. The study was intended to determine whether or not the Residual Impacts of Global Financial Crisis can be managed and to ascertain whether or not the consumption patterns of the various Economic Units have been affected by the Financial Crisis. The Ordinary Least Square (OLS) was used in testing the hypotheses. Simple Regression Analysis was used too. Augmented Engle Granger (AEG) and Augmented Dickey-Fuller (ADF) were used. The results showed that there was co-integration between the consumptions of the Economic Units and significant dispersion from Economic Growth. It was concluded that the financial crisis still have some residual impacts of Economic Growth. It was recommended that the Federal Government should give out packages to banks to improve their liquidity positions which would ultimately transcend to other corporate and private units of the Economy.