IMPACT OF FINANCIAL INTERMEDIATION ON ECONOMIC GROWTH IN NIGERIA 1994 - 2013

📄 Project Abstract

One of the activities of financial institutions (banks) involves intermediating between the surplus and deficit units of the economy. Banks as financial intermediaries emerge to lower the cost of reaching potential investments, exerting corporate controls, managing risks, mobilizing savings and conducting exchanges. In Nigeria, banks dominate the financial sector and there is detailed information about Nigerian banking history but little information is available on the activities of the financial industry and how they affect the economy where they operate. Therefore, this study explored in the light of past trends, the extent to which financial intermediation impacted on the economic growth of Nigeria between the period 1994 - 2013. The study adopted the ex-post facto research design. Time series data for the twenty years period 1994 - 2013 were collated from secondary sources and the Ordinary Least Squares (OLS) regression technique was used to estimate the hypotheses formulated ...