O.Osifo

This study investigates the impact of real estate financing on economic growth in Nigeria, by analyzing its effects on Nigeria's Gross Domestic Product (GDP). Specifically, the study aims to evaluate the contribution of FDI, mortgage financing, and commercial real estate loans to the nation’s economic performance, providing actionable insights for policymakers and stakeholders. A longitudinal, ex-post facto research design was adopted, utilizing panel data from 2014 to 2023. Data were sourced from the Central Bank of Nigeria (CBN), the National Bureau of Statistics
(NBS), and reports from financial institutions and real estate firms. Panel data analysis was employed to capture both cross-sectional and time-specific effects, ensuring a robust assessment of the relationships between the variables. The findings reveal that all three dimensions of real estate financing significantly contribute to Nigeria's economic growth. FDI in real estate fosters capital inflow, infrastructure development, and job creation. Mortgage financing enhances housing accessibility and stimulates economic activity in the construction and housing sectors. Commercial real estate loans enable business expansion, infrastructure development, and increased urbanization, further boosting GDP. Based on these findings, the study recommends that the Nigerian government create a conducive environment for FDI by simplifying regulatory processes, ensuring macroeconomic stability, and offering investment incentives. Policies should also focus on improving access to affordable mortgage financing through innovative financing models, reduced interest rates, and expanded credit availability. Additionally, financial institutions should be incentivized to provide more commercial real estate loans by reducing associated risks and offering tax benefits for such lending

This study investigates the impact of financial market frictions on stock market performance in South Africa over the period 1990 to 2024. Using annual time series data sourced from the South African Reserve Bank, Statistics South Africa, the Johannesburg Stock Exchange, and the World Bank, the study employs the Autoregressive Distributed Lag (ARDL) model to examine both short-run and long-run relationships between market capitalisation and key financial frictions: transaction costs, liquidity constraints, information asymmetry, and regulatory quality. The findings reveal that transaction costs have a statistically significant and positive effect on stock market performance in the short run, suggesting investor adjustment mechanisms, but no significant long-term effect. Li7quidity constraints negatively affect market performance in the short term but become insignificant over time, indicating temporary disruptions. Information asymmetry is found to significantly reduce market capitalisation in both timeframes, highlighting the importance of transparency and disclosure. Regulatory quality, however, shows no statistically significant impact, pointing to potential inefficiencies or limitations in the existing regulatory framework. The study concludes that financial frictions, particularly information asymmetry and liquidity constraints, remain critical barriers to optimal stock market performance in South Africa. It is recommended that policymakers streamline transaction cost structures, enhance market liquidity, strengthen disclosure and governance frameworks, and improve regulatory coherence to foster a more efficient and resilient capital market.