MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA
The need to establish the role of institutional factors in the impact of mortgage finance on housing development in Nigeria creates the necessity for this study. This study examines the interacting effect of institutional factors in the relationship between mortgage finance and housing development....
Saved in:
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Department of Accounting and Finance, Federal University Gusau
2025-04-01
|
| Series: | Gusau Journal of Accounting and Finance |
| Subjects: | |
| Online Access: | https://journals.gujaf.com.ng/index.php/gujaf/article/view/374 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1849228316186247168 |
|---|---|
| author | Lukman Adebayo-Oke Abdurauf Sheriff Akanji Ibrahim Yusuf Olamilekan Quadri |
| author_facet | Lukman Adebayo-Oke Abdurauf Sheriff Akanji Ibrahim Yusuf Olamilekan Quadri |
| author_sort | Lukman Adebayo-Oke Abdurauf |
| collection | DOAJ |
| description |
The need to establish the role of institutional factors in the impact of mortgage finance on housing development in Nigeria creates the necessity for this study. This study examines the interacting effect of institutional factors in the relationship between mortgage finance and housing development. Quarterly data on housing delivery, mortgage finance and institutional and economic factors were sourced from the Central Bank of Nigeria statistical bulletin, Federal Mortgage Bank of Nigeria audited report and World Governance Indicator between 2005 to 2022. Empirical analysis was conducted using the Autoregressive Distributed Lag (ARDL) model. The research found a negative and significant (at 10% level of significance) interacting effect of institutional factors in the relationship between mortgage interest (coeff.;-1.967: p-value;0.0734) and housing development, while institutional factors render the effect of mortgage loan and mortgage equity on housing delivery insignificant. The paper concludes that the interaction of institutional factors such as government effectiveness, corruption, regulatory framework, rule of law among others, downplays the efficacy of mortgage finance in causing housing development in the short run and recommends a strengthened institutional framework that guarantees stringent anti-corruption measures, transparent mortgage application and approval process, and expedited bureaucratic processes, to enhance accessibility of mortgage finance.
|
| format | Article |
| id | doaj-art-a9dc404597bf40bebd8ed97416c79c77 |
| institution | Kabale University |
| issn | 2756-665X 2756-6897 |
| language | English |
| publishDate | 2025-04-01 |
| publisher | Department of Accounting and Finance, Federal University Gusau |
| record_format | Article |
| series | Gusau Journal of Accounting and Finance |
| spelling | doaj-art-a9dc404597bf40bebd8ed97416c79c772025-08-23T05:06:45ZengDepartment of Accounting and Finance, Federal University GusauGusau Journal of Accounting and Finance2756-665X2756-68972025-04-016110.57233/gujaf.v6i1.10MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA Lukman Adebayo-Oke Abdurauf0Sheriff Akanji Ibrahim1 Yusuf Olamilekan Quadri2Department of Accounting and Finance, Kwara state University, Malete, Kwara state, NigeriaDepartment of Accounting and Finance, Kwara state University, Malete, Kwara state, NigeriaDepartment of Accounting and Finance, Kwara state University, Malete, Kwara state, Nigeria The need to establish the role of institutional factors in the impact of mortgage finance on housing development in Nigeria creates the necessity for this study. This study examines the interacting effect of institutional factors in the relationship between mortgage finance and housing development. Quarterly data on housing delivery, mortgage finance and institutional and economic factors were sourced from the Central Bank of Nigeria statistical bulletin, Federal Mortgage Bank of Nigeria audited report and World Governance Indicator between 2005 to 2022. Empirical analysis was conducted using the Autoregressive Distributed Lag (ARDL) model. The research found a negative and significant (at 10% level of significance) interacting effect of institutional factors in the relationship between mortgage interest (coeff.;-1.967: p-value;0.0734) and housing development, while institutional factors render the effect of mortgage loan and mortgage equity on housing delivery insignificant. The paper concludes that the interaction of institutional factors such as government effectiveness, corruption, regulatory framework, rule of law among others, downplays the efficacy of mortgage finance in causing housing development in the short run and recommends a strengthened institutional framework that guarantees stringent anti-corruption measures, transparent mortgage application and approval process, and expedited bureaucratic processes, to enhance accessibility of mortgage finance. https://journals.gujaf.com.ng/index.php/gujaf/article/view/374Mortgage FinanceInstitutional FactorsHousing Development |
| spellingShingle | Lukman Adebayo-Oke Abdurauf Sheriff Akanji Ibrahim Yusuf Olamilekan Quadri MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA Gusau Journal of Accounting and Finance Mortgage Finance Institutional Factors Housing Development |
| title | MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA |
| title_full | MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA |
| title_fullStr | MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA |
| title_full_unstemmed | MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA |
| title_short | MORTGAGE FINANCE, INSTITUTIONAL FACTORS AND HOUSING DEVELOPMENT IN NIGERIA |
| title_sort | mortgage finance institutional factors and housing development in nigeria |
| topic | Mortgage Finance Institutional Factors Housing Development |
| url | https://journals.gujaf.com.ng/index.php/gujaf/article/view/374 |
| work_keys_str_mv | AT lukmanadebayookeabdurauf mortgagefinanceinstitutionalfactorsandhousingdevelopmentinnigeria AT sheriffakanjiibrahim mortgagefinanceinstitutionalfactorsandhousingdevelopmentinnigeria AT yusufolamilekanquadri mortgagefinanceinstitutionalfactorsandhousingdevelopmentinnigeria |