ROLE OF COMMERCIAL BANKS IN ECONOMIC DEVELOPMENT OF DEVELOPING COUNTRIES
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Abstract
It could be affirmative to say that the index for measuring any growing economy’s advancement is the extent to which its industries both the large and small scale has been growing over time. It’s a fact that none of these industries can grow without the required financial assistance from financial institution. The main objective of this study is access the role of commercial banks in the economic development of developing countries using Nigeria as a case study. Essentially, a field survey research design and quota sampling techniques were used. Pearson chi-square statistics was used to test the hypothesis. Based on the hypothesis tested, the findings showed that there is a significant impact on the role commercial banks played in the economic development of developing countries. Since commercial banks has significant impact on the development of developing countries, the government of Nigeria is urged to formulate more beneficial policies that will further strengthen the roles played by these commercial banks for full development.
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