| Summary, etc |
This study empirically examines the impact of commercial bank credit and agricultural output on the economic growth of Nigeria. Specifically, it analyzes the impact of commercial bank credit on agricultural output, investigates the effect of agricultural output on economic growth, and also examine how commercial bank, agricultural output and economic growth are related in Nigeria<br/>using annual time-series data from 1980-2022. Auto-Regressive Distribution Lag Model was employed. The unit root test, utilizing both the Augmented Dickey-Fuller (ADF) and Phillip and Penn (PP) tests, the lag order of the ARDL models using VAR lag order selection criteria, and the bound test were all carried out. World Development Indicator (2020) Central Bank Statistical <br/>Bulletin (2021) and Penn World Table Version 9.0 were used to compile data on credit bank loan to agriculture sector, inflation rate, interest rate, Money supply, Agricultural output, Agriculture contribution to GDP and other models. The result of the analyzed data illustrated that credit bank loan to have a positive but insignificant impact and positive relations with real GDP in Nigeria. <br/>Also, agricultural output has positive and insignificant relations with economic growth while the interactive effect of commercial bank credit and agricultural output is statistically insignificant but positively related with economic growth. The study came to the conclusion that neither commercial bank credit nor agricultural output had a significant impact on Nigeria's economic <br/>growth and that both would increase if commercial bank credit and agricultural output were to rise. It is also established that, despite being statistically small, the relationships between commercial bank loan and agricultural output had a direct impact on the economy from 1980 to 2022.Keywords: Commercial Bank Credit, Agricultural output and Economic Growth <br/> |
