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Published by: Admin
Published: 2 years ago
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Pages: 13
ISBN:
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Abstract
The roles Small and Medium Scale Enterprises play in the development and growth of any economy cannot be over emphasised. In the past, it has always been said that enough funds given to SMEs in Nigeria hasn’t always been enough to drive growth in the sector. Even the ones given are not properly managed to achieve the desired result. Against this backdrop, this paper analyses the impact of SMEs financing and inclusive growth in Nigeria from 1990 to 2016 adopting the ARDL model and the Error correction model. The findings in this paper revealed that SME financing had significant but negative contributions to growth in Nigeria within the study period. Interest rate and financial deepening significantly contributed to growth negatively, while the past two periods of growth registered a positive impact on current inclusive growth in Nigeria. Based on these findings, we recommended policies that will improve upon the measures taken to give these loans and suggest that low interest rates and proper supervision should be given to SMEs in Nigeria.
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