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-2019, the demand-following hypothesis was established, suggesting that in Nigeria economic growth granger cause financial … development. This implied that financial development stemming from the banking system does not drive economic growth in Nigeria …
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rate independent of the source of loans - banks or moneylenders though the level effect (intercept) is higher if the loan … is obtained from banks or lower if the household lives below poverty line. The same also holds for the rate of growth of … rate of growth of capital asset or income whether source of borrowing is bank or money lender. This is then formalized in a …
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