IMPACT OF FINANCIAL INTERMEDIATION BY DEPOSIT MONEY BANKS ON THE REAL SECTOR OF THE NIGERIAN ECONOMY (1980 â€“ 2012)

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ABSTRACT

The objective of the study is to examine empirically the impact of financial intermediation on the real sector of the Nigerian economy with the aim of determining the impact of financial intermediation on the real sector growth. Both theoretical and econometric analysis are used in this study to examine the impact of financial intermediation on the real sector growth; using real GDP growth rate as the dependent variable and credits to private sector (CPS), average manufacturing capacity utilization (AMCU) and inflation rate (INFR) as independent variables from 1980-2012. The study employs time-series methods of unit root test, co-integration test and vector error correction (VEC) model. The study establishes that credit to private sector contributes significantly to real sector growth in Nigeria. The study also establishes that both average manufacturing capacity utilization and inflation rate do exert any significant effect on real sector growth in Nigeria. The Adjusted R-squared value is 0.99. The study recommends that public policies to stimulate the supply of basic infrastructure, reward DMBs for providing large loans to private sector, improve security of lives and properties and discipline monetary and fiscal policies in order to enhance real sector growth.

CHAPTER ONE

1.1Background to the Study

1.2Statement of the Problem

1.3Research Questions

1.4Objectives of the Study

1.5Statement of Hypothesis

1.6Significance of the Study

1.7Scope and limitations of the study

CHAPTER TWO

REVIEW OF RELATED LITERATURE

2.1Theoretical Review

2.2Empirical Studies

2.3Financial Sector Reforms in Nigeria

2.4Theoretical Framework

CHAPTER THREE

METHODOLOGY

3.1Research Design

3.2Model Specification

3.3Estimation Procedure

3.4Data Discussion

3.5Sources of Data Employed

CHAPTER FOUR

DATA PRESENTATIONS, RESULTS AND ANALYSIS

4.1Presentation of Results and Interpretation

4.3Test of hypothesis

CHAPTER FIVE

SUMMARY, CONCLUSION AND RECOMMENDATION

5.1Summary of Findings

5.2Conclusion

5.3Recommendations

References

APPENDIX

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IMPACT OF FINANCIAL INTERMEDIATION BY DEPOSIT MONEY BANKS ON THE REAL SECTOR OF THE NIGERIAN ECONOMY (1980 â€“ 2012)

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