Financial Architecture, Real Estate Market and Economic Development in Sub-Saharan African Countries: Evidence from Nigeria
| dc.creator | Adetiloye, K. A., Eke, O. P. | |
| dc.date | 2016 | |
| dc.date.accessioned | 2025-04-04T18:03:10Z | |
| dc.description | This study examines the causal-relationship between financial architecture, real estate market and economic development in Nigeria. The Nigerian financial system may have performed creditably in the last few years there remains a major concern to developing Nigerian huge real estate market. Real estate phenomena, inclusive of its “green culture” and environmental planning and zoning system, may constitute a platform for achieving social and economic development objectives, such as: quality human capital, comprehensive and quality health system, increasing national productivity, serene and quality environment, balanced demography and optimal population growth, as hallmarks of the Millennium Development Goals (MDGs) in 2015. The aforementioned gap suggests a vacuum in the Nigerian development paradigm. Findings from this study suggest that the Nigerian financial structure has impeded the development of Nigerian real estate sector, hence, has accentuated the poverty syndrome of its citizens. The study suggests the financial “matching principle”, where market driven financial institutions commit to long term funding, such as the Sovereign Wealth Funds, Pension Funds, etc, invest in mortgages and real estate development; the government should also commit higher capital budgetary allocations for infrastructural development. Finally, the government should set up construction bank, adopt responsive macroeconomic policies that would nip inflation rate, overhaul the Federal mortgage institutions and improve people’’ savings culture. | |
| dc.identifier | http://eprints.covenantuniversity.edu.ng/15120/ | |
| dc.identifier.uri | https://repository.covenantuniversity.edu.ng/handle/123456789/44722 | |
| dc.subject | H Social Sciences (General), HG Finance | |
| dc.title | Financial Architecture, Real Estate Market and Economic Development in Sub-Saharan African Countries: Evidence from Nigeria | |
| dc.type | Article |