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Money Market Indicators, Pension Funds, and Real Estate Finance in Nigeria

Oni, Ayotunde Olawande (2013) Money Market Indicators, Pension Funds, and Real Estate Finance in Nigeria. In: African Real Estate Society Conference 2013, 22-24 October 2013, Lemigo Hotel, Kigali, Rwanda. (Unpublished)

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Macroeconomic indicators have been identified as having significant affect on a nation’s economy including the quantity of money available for real estate development; and arguably, pension funds have been identified as real estate finance option. Consequently, what are relationships between macroeconomic indicators and pension fund contributions? In resolving this question, secondary data were obtained from the websites of Central Bank of Nigeria and National Pension Commission covering 2006 to 2010. The Pearson’s product moment correlation analsis revealed the following variables pairing with pension fund contributions as having P-values < 0.05: AVNM and PFC (P-value = 0.0209; r2=0.93); CPS and PFC (0.0100; 0.96); BsM and PFC (0.0066; 0.97); CiC and PFC (0.0059; 0.97); BRs and PFC (0.0182; 0.94); CoB and PFC (0.0097; 0.96); DdD and PFC (0.0230; 0.93); QuM and PFC (0.0054; 0.97); AVBM and PFC (0.0095; 0.96). The study found that money supply in the economy (narrow and broad money), credit to private sector, base (or reserved) money, currency in circulation, bank reserves, currency outside bank, demand deposit, quasi money, all have high and positively correlated relationships amongst them. Similarly, trend analysis indicated continuous increase in pension fund contributions into the nearest future. It concluded that pension fund contributions would be a veritable source of financing real estate in Nigeria if properly harnessed.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: real estate, monetary policy, money supply, inflation, finance, property development, pension funds.
Subjects: A General Works > AI Indexes (General)
Date Deposited: 13 Jan 2014 11:06
Last Modified: 13 Jan 2014 11:06

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