The problems of lack of efficiency and effectiveness of mobilizing resources lead to unemployment,instability,and underdevelopment of the Nigeria economy.Financial intermediation as a financial system aims at the enha...The problems of lack of efficiency and effectiveness of mobilizing resources lead to unemployment,instability,and underdevelopment of the Nigeria economy.Financial intermediation as a financial system aims at the enhancement of mobilization of funds by pooling individuals savings and increasing the proportion of societal resources devoted to interest—yielding assets and long-term investments,which in turn facilitates economic growth.This study is aimed at accessing the impact of financial intermediation on economic development in Nigeria by using the endogenous components of financial intermediation,such as demand deposits(DD),time/savings deposits(T/Sav),and credits(loans and overdraft),our independent variables as explanatory variables to predict the outcome of our dependent variable output(GDP)secondary data from the CBN(Central Bank of Nigeria)Statistical Bulletin of various issues.The study covers an eight-year period(1995-2014).Parametric statistics in forms of analysis of variance(ANOVA),mean,standard deviation,t-test,co-efficient of correlation,and simple linear regression were used to analyze the data.The findings suggest that though there exists a positive growth relationship between financial intermediation and output in Nigeria,there also exist elements of negative short-run growth relationship,especially for the periods that suffered financial shocks resulting from the global financial crisis and perhaps numerous bank failures.Recommendation states that this finding may serve to buttress existing research outcomes and will be relevant to regulatory authorities in formulating policies that are capable of positively enhancing financial intermediation and output growth in the economy.展开更多
文摘The problems of lack of efficiency and effectiveness of mobilizing resources lead to unemployment,instability,and underdevelopment of the Nigeria economy.Financial intermediation as a financial system aims at the enhancement of mobilization of funds by pooling individuals savings and increasing the proportion of societal resources devoted to interest—yielding assets and long-term investments,which in turn facilitates economic growth.This study is aimed at accessing the impact of financial intermediation on economic development in Nigeria by using the endogenous components of financial intermediation,such as demand deposits(DD),time/savings deposits(T/Sav),and credits(loans and overdraft),our independent variables as explanatory variables to predict the outcome of our dependent variable output(GDP)secondary data from the CBN(Central Bank of Nigeria)Statistical Bulletin of various issues.The study covers an eight-year period(1995-2014).Parametric statistics in forms of analysis of variance(ANOVA),mean,standard deviation,t-test,co-efficient of correlation,and simple linear regression were used to analyze the data.The findings suggest that though there exists a positive growth relationship between financial intermediation and output in Nigeria,there also exist elements of negative short-run growth relationship,especially for the periods that suffered financial shocks resulting from the global financial crisis and perhaps numerous bank failures.Recommendation states that this finding may serve to buttress existing research outcomes and will be relevant to regulatory authorities in formulating policies that are capable of positively enhancing financial intermediation and output growth in the economy.
