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Power of Bank Credit on Economic Growth: A Nigerian Perspective

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  • John N.N. Ugoani

Abstract

Bank credit policies in Nigeria are very critical for some reasons. One bank credit is the oil on the wheel of economic growth. Two there is strong empirical evidence that the development of sound financial markets and institutions has significant relationships with long term economic growth. Very importantly again, recent research provides evidence that inappropriate and bad financial sector policies are potentially costly and dangerous in a developing economy as proved by financial sector distress in Nigeria, particularly in the 1990s, through 2011. The study designed to explore the power of bank credit on economic growth applied the survey research design. Data generated were analyzed through tables, frequencies, percentages and the X2 statistics. It was found that bank credit has significant relationship with economic growth and socio-infrastructural development. Five recommendations were made based on the result of the study.

Suggested Citation

  • John N.N. Ugoani, 2013. "Power of Bank Credit on Economic Growth: A Nigerian Perspective," International Journal of Financial Economics, Research Academy of Social Sciences, vol. 1(3), pages 93-102.
    • Handle: RePEc:rss:jnljfe:v1i3p3
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    Citations

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    Cited by:

    1. John N.N Ugoani, 2014. "Power of Emotional Intelligence on Good Governance," Journal of Public Policy & Governance, Research Academy of Social Sciences, vol. 1(2), pages 57-71.
    2. Ismaila Akanni Yusuf & Agatha Nkem Amadi & Mohammed Bashir Salaudeen, 2020. "Effects of Risk Culture and Appetite on Effective Risk Management in Nigerian Banks: Case Study of United Bank for Africa Plc," Academic Journal of Economic Studies, Faculty of Finance, Banking and Accountancy Bucharest,"Dimitrie Cantemir" Christian University Bucharest, vol. 6(2), pages 81-87, June.
    3. Aušrinė Lakštutienė & Aida Barkauskaitė, 2016. "Evaluation of relationship between banks lending activities and the economies in Baltic countries," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 5(1), pages 141-156.
    4. Neelam Timsina, 2014. "Bank Credit and Economic Growth in Nepal: An Empirical Analysis," NRB Economic Review, Nepal Rastra Bank, Research Department, vol. 26(2), pages 1-24, October.

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