University of Tehran, Faculty of Economics Iranian Economic Review 1026-6542 20 4 2016 10 01 Globalization and Financial Development in Nigeria 461 478 59606 10.22059/ier.2016.59606 EN Joseph Ayoola Omojolaibi Department of Economics, University of Lagos, Lagos, Nigeria. Ekundayo Peter Mesagan Department of Economics, University of Lagos, Lagos, Nigeria. Nsofor Chinedu Stanley Department of Economics, University of Lagos, Lagos, Nigeria. Journal Article 2016 06 22 Globalization is a worldwide phenomenon. The concept globalization is a very recent term only establishing its current meaning in the 1970s, which emerged from the intersection of four inter related sets of communities of practice, academics, journalists, publishers. This paper models the channels through which globalization affects financial sector development in Nigeria. To this end this study examines the data for these variables used in this study for the period (1987-2014). The results obtained in this study have established that globalization has a significant effect on financial sector development in Nigeria. Higher pace of globalization is found to be associated with a good financial system in Nigeria and it also serves as a stimulant for the economy. The study calls for an enabling environment for the financial system as well as interest rate targeting to encourage more financial in-flow.<br /> <strong> </strong> https://ier.ut.ac.ir/article_59606_5079cef8920859c5c8d7ddbbe0e410a9.pdf