The contributory pension scheme and the financial system development in Nigeria
The article examined the influence of the contributory pension scheme on the financial system development in Nigeria. Evidence accumulated from both theoretical and empirical literature point to the power of contributory pension to deepen the financial system. An empirical work earlier done showed t...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
LLC "CPC "Business Perspectives"
2016-09-01
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| Series: | Innovative Marketing |
| Online Access: | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/7672/im_en_2016_02_Odo.pdf |
| _version_ | 1819170936781275136 |
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| author | Cosmas O. ODO Okeke Chinedu |
| author_facet | Cosmas O. ODO Okeke Chinedu |
| author_sort | Cosmas O. ODO |
| collection | DOAJ |
| description | The article examined the influence of the contributory pension scheme on the financial system development in Nigeria. Evidence accumulated from both theoretical and empirical literature point to the power of contributory pension to deepen the financial system. An empirical work earlier done showed that the total domestic savings (TDS) increased during the post- pension period; and that the capital market capitalization rose significantly over the period. It was also observed that its implementation has created an impressive scenario whereby now pension funds account for 30% and 8% bond and stock markets capitalization, respectively. This is beside the increased activities in the life subsector of the insurance industry.
Keywords: pension, financial system development, contributory pension, pay-as-you-go. JEL Classification: G230 |
| first_indexed | 2024-12-22T19:43:19Z |
| format | Article |
| id | doaj.art-5fdf5024fde249cc8cb3d53dd9b07aff |
| institution | Directory Open Access Journal |
| issn | 1814-2427 1816-6326 |
| language | English |
| last_indexed | 2024-12-22T19:43:19Z |
| publishDate | 2016-09-01 |
| publisher | LLC "CPC "Business Perspectives" |
| record_format | Article |
| series | Innovative Marketing |
| spelling | doaj.art-5fdf5024fde249cc8cb3d53dd9b07aff2022-12-21T18:14:46ZengLLC "CPC "Business Perspectives"Innovative Marketing1814-24271816-63262016-09-01122162110.21511/im.12(2).2016.027672The contributory pension scheme and the financial system development in NigeriaCosmas O. ODO0Okeke Chinedu1Ph.D., Enugu State University of Science & Technology, Enugu, NigeriaBranch Manager, Zenith Bank, PLC, Central Business District, Abuja, NigeriaThe article examined the influence of the contributory pension scheme on the financial system development in Nigeria. Evidence accumulated from both theoretical and empirical literature point to the power of contributory pension to deepen the financial system. An empirical work earlier done showed that the total domestic savings (TDS) increased during the post- pension period; and that the capital market capitalization rose significantly over the period. It was also observed that its implementation has created an impressive scenario whereby now pension funds account for 30% and 8% bond and stock markets capitalization, respectively. This is beside the increased activities in the life subsector of the insurance industry. Keywords: pension, financial system development, contributory pension, pay-as-you-go. JEL Classification: G230https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/7672/im_en_2016_02_Odo.pdf |
| spellingShingle | Cosmas O. ODO Okeke Chinedu The contributory pension scheme and the financial system development in Nigeria Innovative Marketing |
| title | The contributory pension scheme and the financial system development in Nigeria |
| title_full | The contributory pension scheme and the financial system development in Nigeria |
| title_fullStr | The contributory pension scheme and the financial system development in Nigeria |
| title_full_unstemmed | The contributory pension scheme and the financial system development in Nigeria |
| title_short | The contributory pension scheme and the financial system development in Nigeria |
| title_sort | contributory pension scheme and the financial system development in nigeria |
| url | https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/7672/im_en_2016_02_Odo.pdf |
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