Browsing by Author "Kolapo, Mariam Biodun"

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    IMPACT OF FINANCIAL DEEPENING ON ECONOMIC GROWTH OF NIGERIA
    (University of Ilorin, Ilorin, Nigeria, 2018) Yahaya, Khadijat; Kolapo, Mariam Biodun
    The financial sector has been found to promote economic growth by increasing economic efficiency, investment and financial deepening. Financial deepening refers to achieving a greater penetration of financial services to all levels of society. This study examined the impact of financial deepening on economic growth in Nigeria. It employs secondary data from the Central Bank of Nigeria Bulletin 2015. Error correction model and regression analysis was used. The findings revealed that banking sector and capital market related financial deepening variables are significant determinants of economic growth in Nigeria with coefficient value of 4.6015 and 3.28E-09 at 5% significant level respectively. The study concluded that financial deepening promotes economic growth in Nigeria. The study recommended that policy holders should implement the financial inclusion policies that increases the flow of investible funds and improves the capacity of banks to extend credit to the economy.