Review of the Impact of Bank and Market Based Financial Structure on Economic Growth in Nigeria

Nwanne, T.F.I and Nwambeke, G. C. (2015) Review of the Impact of Bank and Market Based Financial Structure on Economic Growth in Nigeria. Research Journal of Finance and Accounting, 6 (16). pp. 94-104. ISSN 2222-2847 Vol.6, No.16, 2015

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Abstract

The study reviewed the impact of bank and market based financial structure on economic growth in Nigeria for the period 1990-2012. The objectives of the study were to determine the impact of bank-based financial structure, market-based financial structure and total financial services on economic growth. The study used “Expost-facto” research design. Ordinary Least Square Regression model was used in data analysis. The study finds that market-based financial structure has negative and insignificant impact on economic growth while bank-based financial structure and total financial services have positive and significant impact on economic growth. The implication of the finding is that the Nigerian financial structure is bank-based and not marketbased. It also implies that total financial service is significant to economic growth; hence, financial structure classification is irrelevant. It was recommended that efforts should be intensified to ensure greater provision of total financial services to the domestic economy. Efforts should be geared towards revamping the Nigerian Capital Market activities as a way of encouraging its contribution to economic growth. Keywords: Market size, Bank activity, AK growth theory, Total financial services

Item Type:	Article
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Faculty of Management and Social Sciences
Depositing User:	GOUNI ICT
Date Deposited:	05 May 2018 20:46
Last Modified:	05 May 2018 20:46
URI:	http://eprints.gouni.edu.ng/id/eprint/13

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