Ikechukwu Acha

Banks' Financial Intermediation and Economic Growth: Less Developed Countries' Perspective Ikechukwu Acha

This book is on the relationship between finance and economic growth. The need to grow economies especially those of less developed countries and the the unending contentions among economists as to the relationship between finance and economic growth motivated the writing of this text. In many developing economies banks play a key role in the provision of finance,this explains the primacy these institutions are accorded in this book. In assessing the extent finance contributes to economic growth, financial intermediation by banks is used as a proxy for finance while gross domestic product growth rate represented economic growth. The book showed that the reliance on banks by most developing countries to generate growth may be unfruitful. This is because, the Nigerian case surveyed in this book noted marginal contribution by banks to economic development.