IMPACT OF FINANCIAL INTERMEDIATION ON ECONOMIC DEVELOPMENT

• <div>                  <b>TABLE OF CONTENTS&nbsp;</b></div><p></p> Approval Page. . . . . . . . ........................................................................................................................... . iii&nbsp;<div>Dedication. . . . . ................................................................................................................................ . . . . . iv&nbsp;</div><div>Acknowledgments. . . . . . ....................................................................................................................... . . . v&nbsp;</div><div>Abstract. . . . . . . . .................................................................................................................................... . . vii&nbsp;</div><div>Abbreviations. . . . ........................................................................ ..................................................... . . . . . viii&nbsp;</div><div>Table of Contents. . . . . . .............................................................................................................................. . . .</div><div>&nbsp;List of Tables. . . . . . . ............................................................................................................................. . . . xii&nbsp;</div><div>List of Figures . . . . . . . ............................................................................................................................ . . xiii&nbsp;</div><div>

Chapter ONE

INTRODUCTION

• . . . . . . .............................................................................................................. . . 1&nbsp;</div><div>
• 1.0Background of Study. . . . . . ............................................................................................................... . . 1&nbsp;</div><div>
• 1.2Statement of Problem. . . . . ............................................................................................................. . . . 8&nbsp;</div><div>
• 1.3Objectives of the Study. . . . ............................................................................................................. . . . 10&nbsp;</div><div>
• 1.4Research Questions . . . . . ................................................................................................................. . . 11&nbsp;</div><div>
• 1.5Research Hypotheses. . . . . . .............................................................................................................. . . 11&nbsp;</div><div>
• 1.6Scope of the Study. . . . . . . ................................................................................................................... . 11&nbsp;</div><div>
• 1.7Significance of Study. . . . . ................................................................................................................ . . . 12&nbsp;</div><div>
• 1.8Philosophical Positioning of the Study. . ............................................................................................ . . . 13&nbsp;</div><div>&nbsp;References. . . . . . . . ................................................................................................................................. . 15&nbsp;</div><div><br></div><div>

Chapter TWO

LITERATURE REVIEW

• . ......................................................................................... . . . . 17&nbsp;</div><div>
• 2.1Theoretical Review. . . . . . . . ................................................................................................................. 17&nbsp;</div><div>2.
• 1.1Economic Theories of Sustainable Development. . ........................................................................ . . 17&nbsp;</div><div>2.
• 1.2Neo-classical Theory and Sustainable Development. . . ................................................................. . 18&nbsp;</div><div>2.
• 1.3Evolutionary Theoretical Approach for Environmental Economics. .................................................. . 21&nbsp;</div><div>2.
• 1.4Environmental Economics Theories and Sustainable Development. . ............................................... 25<div> 2.
• 1.5Theoretical Development of Finance-Growth Nexus. . . ..................................................................... 28&nbsp;</div><div>2.
• 1.6Development Variables and Their Relevance. . . . .............................................................................. 40&nbsp;</div><div>2.
• 1.7Finance and Growth of World Economies. . . . ................................................................................. . 42&nbsp;</div><div>2.
• 1.8Financial Development, Productivity and Growth. . . ........................................................................ . 46&nbsp;</div><div> 2.
• 1.9Financial System Size and the Economy. . . . ................................................................................... . 48&nbsp;</div><div>
• 2.2Empirical Review. . . . . . ..................................................................................................................... . . 50&nbsp;</div><div>2.
• 2.1An Overview of sub-Saharan African Development. . . ..................................................................... . 50&nbsp;</div><div>2.
• 2.2Financial Sector and Economic Development. . . .............................................................................. . 52&nbsp;</div><div>2.
• 2.3Financial Sector Development and Intermediation. . . ....................................................................... . 54&nbsp;</div><div>2.
• 2.4Financial Sector Development and Sustainable Development. . ......................................................... 58&nbsp;</div><div>2.
• 2.5Banking Sector and Economic Development. . . . ................................................................................ 59&nbsp;</div><div>2.
• 2.6Infrastructure Finance and Economic Development. . . ...................................................................... . 65&nbsp;</div><div>2.
• 2.7The Capital Market and Economic Development. . . . .......................................................................... 69&nbsp;</div><div>2.
• 2.8Financial Development and the Intersectoral Transfer of Resources. ................................................. 72&nbsp;</div><div>2.
• 2.9Financial Sector Development and Growth. . . . . . ...............................................................................73&nbsp;</div><div>2.
• 2.10Financial Sector Environment and Structure. . . . . ............................................................................ 74&nbsp;</div><div>2.
• 2.11Economic Crises and Financial Sector Development. . ................................................................... . 77&nbsp;</div><div>2.
• 2.12Financial Development and Poverty Reduction. . . .......................................................................... . 80&nbsp;</div><div>2.
• 2.13Human Capital and Economic Development. . . ............................................................................. . . 84&nbsp;</div><div>2.
• 2.14Finance Development and Employment. . . . .................................................................................... . 85&nbsp;</div><div>
• 2.3Review Summary. . . . . . . ...................................................................................................................... . 92&nbsp;</div><div>References. . . . . . . .................................................................................................................................... . . 94</div><div><br></div><div><b>&nbsp;

Chapter THREE

RESEARCH METHODOLOGY

• . . . . . ......................................................................................... . 113</b>&nbsp;</div><div>
• 3.1Research Design. . . . . ..................................................................................................................... . . . 113&nbsp;</div><div>
• 3.2Nature and Sources of Data. . . . ....................................................................................................... . . . 113&nbsp;</div><div>
• 3.3Model Specification. . . . . . . ................................................................................................................. . 114&nbsp;</div><div>
• 3.4Description of Explanatory Variable. . . . ............................................................................................ . . 116&nbsp;</div><div>3.
• 4.1Dependent Variables. . . . . . . . ............................................................................................................ 116&nbsp;</div><div>3.
• 4.2Independent Variable. . . . . . ........................................................................................................... . . 118&nbsp;</div><div>3.
• 4.3Control Variables. . . . . . . .................................................................................................................. . 118&nbsp;</div><div>
• 3.5Techniques of Analysis. . . . .............................................................................................................. . . . 118&nbsp;</div><div>&nbsp;References. . . . . . ................................................................................................................................. . . . 121&nbsp;</div><div><br></div><div><b>

Chapter FOUR

DATA PRESENTATION AND ANALYSIS

• Presentation and Interpretation of Data. . ................................................................... . . 122</b>&nbsp;</div><div>
• 4.1Presentation of Data. . . . . . . ............................................................................................................... . 122&nbsp;</div><div>4.
• 4.1Testing for Stationarity. . . . ............................................................................................................ . . . 119&nbsp;</div><div>
• 4.2Test of Hypotheses. . . . . . .................................................................................................................. . . 133&nbsp;</div><div>4.
• 2.1Test of Hypothesis One. . . . . .......................................................................................................... . . 134&nbsp;</div><div>4.
• 2.2Test of Hypothesis Two. . . . . ........................................................................................................... . . 135&nbsp;</div><div>4.
• 2.3Test of Hypothesis Three. . . . ......................................................................................................... . . . 136&nbsp;</div><div>4.
• 2.4Test of Hypothesis Four. . . . . ........................................................................................................... . . 137&nbsp;</div><div>4.
• 2.5Test of Hypothesis Five. . . . . ........................................................................................................... . . 138&nbsp;</div><div>
• 4.3Implications of Results. . . . . . ............................................................................................................... . 139&nbsp;</div><div>&nbsp;References. . . . . . . . . .................................................................................................................................. 144&nbsp;</div><div><br></div><div><b>

Chapter FIVE

SUMMARY, CONCLUSION AND RECOMMENDATIONS

• of Findings, Conclusion and Recommendations. ............................................ 145&nbsp;</b></div><div>
• 5.1Summary of Findings. . . . . . . ................................................................................................................ . 145&nbsp;</div><div>
• 5.2Conclusion. . . . . . . . . ............................................................................................................................... 146&nbsp;</div><div>
• 5.3Recommendations. . . . . . . ..................................................................................................................... . 148&nbsp;</div><div>5.
• 3.1Contributions to Knowledge. . . . . . ...................................................................................................... . 149&nbsp;</div><div>5.
• 3.2Recommendation for Further Studies. . . . ........................................................................................... . 149</div><div>&nbsp;</div><div>References. . . . . . . ..................................................................................................................................... . . 151</div><div>&nbsp;</div><div>Bibliography. . . . . . ........................................................................................................................................ . . .&nbsp;</div><div><br></div><div>Appendix. . . . . . . . ...................................................................................................................................... . 152 &nbsp; &nbsp; &nbsp; <br>&nbsp; <p><b></b> <br></p></div></div>