Financial Deepening And Economic Growth In Nigeria

ABSTRACT Long-term sustainable economic growth depends on the ability to raise the rates of accumulation of physical and human capital (Adelakun, 2011), to use the resulting productive assets more efficiently, and to ensure the access of the whole population to these assets (Birdsall and Lonadono, 1997). Financial intermediation supports this investment process by mobilizing household and foreign savings for investment by firms; ensuring that these funds are allocated to the most productive use; and spreading risk and providing liquidity so that firms can operate the new capacity efficiently. …