An Evaluation Of Financial Development And Economic Growth: Empirical Evidence From Nigeria

CHAPTER ONE 1.1 BACKGROUND TO THE STUDY: Over the last two decades the determinants of economic growth have attracted increasing attention in both theoretical and applied research. Yet, the process underling economic performance is inadequately conceptualised and poorly understood, something which can be partly attributed to the lack of a generalized or unifying theory and the myopic way conventional economics approach the issue (Artelaris et al, 2007). Economic growth in a developing economy rest on an efficient financial sector that pools domestic saving and mobilizes foreign capital for pro…