{"id":"https://openalex.org/W4382371648","doi":"https://doi.org/10.57233/gujaf.v3i3.183","title":"NIGERIA ECONOMIC GROWTH AND CAPITAL MARKET DEVELOPMENT: DOES CONTRIBUTORY PENSION SCHEME MATTER?","display_name":"NIGERIA ECONOMIC GROWTH AND CAPITAL MARKET DEVELOPMENT: DOES CONTRIBUTORY PENSION SCHEME MATTER?","publication_year":2023,"publication_date":"2023-05-09","ids":{"openalex":"https://openalex.org/W4382371648","doi":"https://doi.org/10.57233/gujaf.v3i3.183"},"language":"en","primary_location":{"id":"doi:10.57233/gujaf.v3i3.183","doi":"https://doi.org/10.57233/gujaf.v3i3.183","is_oa":true,"landing_page_url":"http://dx.doi.org/10.57233/gujaf.v3i3.183","pdf_url":"https://journals.gujaf.com.ng/index.php/gujaf/article/download/183/120","source":{"id":"https://openalex.org/S4387284304","display_name":"Gusau Journal of Accounting and Finance","issn_l":"2756-665X","issn":["2756-665X","2756-6897"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":"https://openalex.org/P4404664117","host_organization_name":"Federal University Gusau","host_organization_lineage":["https://openalex.org/P4404664117"],"host_organization_lineage_names":["Federal University Gusau"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Gusau Journal of Accounting and Finance","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://journals.gujaf.com.ng/index.php/gujaf/article/download/183/120","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5092349848","display_name":"Ayorinde Olutimi Akinwumi","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ayorinde Olutimi AKINWUMI","raw_affiliation_strings":["The Administrative Staff College of Nigeria (ASCON)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Administrative Staff College of Nigeria (ASCON)","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5092349849","display_name":"Toluwa Celestine Oladele","orcid":"https://orcid.org/0000-0002-5589-3868","observed_orcids":["https://orcid.org/0000-0002-5589-3868"]},"institutions":[{"id":"https://openalex.org/I181631907","display_name":"University of Ibadan","ror":"https://ror.org/03wx2rr30","country_code":"NG","type":"education","lineage":["https://openalex.org/I181631907"]}],"countries":["NG"],"is_corresponding":false,"raw_author_name":"Toluwa Celestine Oladele","raw_affiliation_strings":["University of Ibadan, Nigeria"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University of Ibadan, Nigeria","institution_ids":["https://openalex.org/I181631907"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5092349850","display_name":"ADEBOYE Emmanuel Sanmi","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"ADEBOYE Emmanuel Sanmi","raw_affiliation_strings":["The Administrative Staff College of Nigeria (ASCON)"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"The Administrative Staff College of Nigeria (ASCON)","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":{"value":0.08734662,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":"3","issue":"3","first_page":"28","last_page":"28"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.4171999990940094,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10517","display_name":"Financial Literacy, Pension, Retirement Analysis","score":0.4171999990940094,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.2354000061750412,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13825","display_name":"Economic Policies and Impacts","score":0.09969999641180038,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/contributory-retirement-system","display_name":"contributory retirement system","score":0.9440000057220459},{"id":"https://openalex.org/keywords/capital-market-development","display_name":"capital market development","score":0.878000020980835},{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":1.0},{"id":"https://openalex.org/keywords/pension-plan-assets","display_name":"pension fund assets","score":0.9110000133514404},{"id":"https://openalex.org/keywords/nigeria","display_name":"Nigeria","score":0.6159999966621399},{"id":"https://openalex.org/keywords/pension-fund-investment","display_name":"pension fund investment","score":0.8100000023841858},{"id":"https://openalex.org/keywords/investment-regulation","display_name":"investment regulation","score":0.49799999594688416}],"concepts":[{"id":"https://openalex.org/C2780899237","wikidata":"https://www.wikidata.org/wiki/Q156223","display_name":"Pension","level":2,"score":0.6491469144821167},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.504092812538147},{"id":"https://openalex.org/C2779891390","wikidata":"https://www.wikidata.org/wiki/Q964630","display_name":"Custodians","level":2,"score":0.4825989007949829},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.47218385338783264},{"id":"https://openalex.org/C115781380","wikidata":"https://www.wikidata.org/wiki/Q994824","display_name":"Gross fixed capital formation","level":3,"score":0.46119025349617004},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.4380815029144287},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.42880794405937195},{"id":"https://openalex.org/C76178495","wikidata":"https://www.wikidata.org/wiki/Q4808784","display_name":"Asset (computer security)","level":2,"score":0.41148728132247925},{"id":"https://openalex.org/C114350782","wikidata":"https://www.wikidata.org/wiki/Q12638","display_name":"Gross domestic product","level":2,"score":0.39901164174079895},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.32921460270881653},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.32678231596946716},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.18257537484169006},{"id":"https://openalex.org/C166957645","wikidata":"https://www.wikidata.org/wiki/Q23498","display_name":"Archaeology","level":1,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.0},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.0},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.0},{"id":"https://openalex.org/C95457728","wikidata":"https://www.wikidata.org/wiki/Q309","display_name":"History","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.57233/gujaf.v3i3.183","doi":"https://doi.org/10.57233/gujaf.v3i3.183","is_oa":true,"landing_page_url":"http://dx.doi.org/10.57233/gujaf.v3i3.183","pdf_url":"https://journals.gujaf.com.ng/index.php/gujaf/article/download/183/120","source":{"id":"https://openalex.org/S4387284304","display_name":"Gusau Journal of Accounting and Finance","issn_l":"2756-665X","issn":["2756-665X","2756-6897"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":"https://openalex.org/P4404664117","host_organization_name":"Federal University Gusau","host_organization_lineage":["https://openalex.org/P4404664117"],"host_organization_lineage_names":["Federal University Gusau"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Gusau Journal of Accounting and Finance","raw_type":"journal-article"},{"id":"pmh:oai:ojs2.journals.gujaf.com.ng:article/183","doi":null,"is_oa":true,"landing_page_url":"https://journals.gujaf.com.ng/index.php/gujaf/article/view/183","pdf_url":null,"source":{"id":"https://openalex.org/S4387284304","display_name":"Gusau Journal of Accounting and Finance","issn_l":"2756-665X","issn":["2756-665X","2756-6897"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":"https://openalex.org/P4404664117","host_organization_name":"Federal University Gusau","host_organization_lineage":["https://openalex.org/P4404664117"],"host_organization_lineage_names":["Federal University Gusau"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"10.57233/gujaf.v3i3","raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:doaj.org/article:8d44475a04884ea0bb31e11838ddc9bf","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/8d44475a04884ea0bb31e11838ddc9bf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Gusau Journal of Accounting and Finance, Vol 3, Iss 3 (2023)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.57233/gujaf.v3i3.183","doi":"https://doi.org/10.57233/gujaf.v3i3.183","is_oa":true,"landing_page_url":"http://dx.doi.org/10.57233/gujaf.v3i3.183","pdf_url":"https://journals.gujaf.com.ng/index.php/gujaf/article/download/183/120","source":{"id":"https://openalex.org/S4387284304","display_name":"Gusau Journal of Accounting and Finance","issn_l":"2756-665X","issn":["2756-665X","2756-6897"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj"],"host_organization":"https://openalex.org/P4404664117","host_organization_name":"Federal University Gusau","host_organization_lineage":["https://openalex.org/P4404664117"],"host_organization_lineage_names":["Federal University Gusau"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Gusau Journal of Accounting and Finance","raw_type":"journal-article"},"sustainable_development_goals":[{"display_name":"Decent work and economic growth","score":1.0,"id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4382371648.pdf","grobid_xml":"https://content.openalex.org/works/W4382371648.grobid-xml"},"referenced_works_count":15,"referenced_works":["https://openalex.org/W126514194","https://openalex.org/W943237646","https://openalex.org/W1587187517","https://openalex.org/W2070631858","https://openalex.org/W2141703703","https://openalex.org/W2149317825","https://openalex.org/W2182004684","https://openalex.org/W2809216451","https://openalex.org/W2890707358","https://openalex.org/W2913400744","https://openalex.org/W3006030844","https://openalex.org/W3007882179","https://openalex.org/W3087926768","https://openalex.org/W3123783127","https://openalex.org/W3151707252"],"related_works":["https://openalex.org/W7216916387","https://openalex.org/W7219225686","https://openalex.org/W1927362269","https://openalex.org/W4380368673","https://openalex.org/W3134265430","https://openalex.org/W3151707252","https://openalex.org/W4297392675","https://openalex.org/W4387066524","https://openalex.org/W7215912819","https://openalex.org/W7154565979"],"abstract_inverted_index":{"Whether":[0],"the":[1,8,14,20,23,29,33,36,57,62,73,89,104,123,127,142,168,187],"contributory":[2],"pension":[3,96,134,198,213],"scheme":[4],"(CPS)":[5],"has":[6],"addressed":[7],"shortage":[9,24],"of":[10,16,25,35],"capital":[11,39,130,161,174],"for":[12,53,91,129],"investments,":[13],"challenge":[15],"full":[17],"compliance":[18],"with":[19,193],"system":[21],"and":[22,42,56,66,106,144,177,201,210],"investment":[26,206],"outlets":[27],"spurred":[28],"interest":[30],"to":[31,47,191],"investigate":[32],"impact":[34],"CPS":[37,172],"on":[38,165],"market":[40,131,162,175],"development":[41,68,176],"economic":[43,178],"growth":[44],"from":[45,61],"2005":[46],"2021.":[48],"Secondary":[49],"data":[50,58],"was":[51,100,138],"adopted":[52],"this":[54,181],"study,":[55],"were":[59],"extracted":[60],"National":[63],"Pension":[64],"Commission":[65],"world":[67],"indicators.":[69],"The":[70,83],"study":[71,169,182],"employed":[72],"auto-regressive":[74],"distribution":[75],"lag":[76],"(ARDL)":[77],"model":[78],"as":[79,197],"an":[80],"estimation":[81],"technique.":[82],"empirical":[84],"results":[85],"show":[86],"that":[87,111,149,171,186],"among":[88,126,184],"proxies":[90,128],"gross":[92],"domestic":[93],"product,":[94],"total":[95,133],"fund":[97,135,199,214],"asset":[98,136],"(TPFA)":[99,137],"significant":[101,139],"in":[102,115,122,140,153,160],"both":[103,141],"short":[105,143],"long":[107,145],"run,":[108,146],"which":[109,147],"showed":[110,148],"a":[112,119,150,157],"1%":[113,151],"increase":[114,121,152,159],"TPFA":[116,154],"would":[117,155],"produce":[118,156],"0.0028%":[120],"GDP.":[124],"Also,":[125],"development,":[132],"0.024%":[158],"development.":[163],"Based":[164],"these":[166],"findings,":[167],"concluded":[170],"influenced":[173],"growth.":[179],"Consequently,":[180],"recommended,":[183],"others,":[185],"NPC":[188],"should":[189],"continue":[190],"partner":[192],"relevant":[194],"stakeholders":[195],"such":[196],"administrators":[200],"custodians":[202],"by":[203],"making":[204],"its":[205],"regulations":[207],"more":[208],"flexible":[209],"encouraging":[211],"increased":[212],"investments.":[215]},"counts_by_year":[],"updated_date":"2026-10-12T09:40:04.860316","created_date":"2023-06-29T00:00:00"}