This study examines the relationship between crude oil price and financial sector intermediary development in Nigeria over the period 1975-2011, using the autoregressive distributed lag approach to cointegration analysis. Four measures of financial intermediary development are used including an...

Financial intermediation is one of the vital determinants of long-run economic growth. It might carry extra relevance in natural resource-rich developing economies, challenged by the long-term negative effects of windfall revenues, namely the resource curse. This study explores whether financial...