FINANCIAL STRUCTURE AND ECONOMIC GROWTH LINK IN NIGERIA

The variables in the dataset are real gross domestic products serve as outputs (Q) and gross domestic investment as capital stock (K). Both variables stated earlier are sourced from the Central Bank of Nigeria Statistical Bulletin 2016. Then, the labour force population (L) is sourced from the World Bank Development Indicators. The same is used to divide the first two variables stated in order to have them in per capita form. Nigeria capital market’s market capitalisation and banking lending are extracted from the Central Bank of Nigeria (CBN) Statistical Bulletin. The former was divided by the latter to have a proxy of Financial Structure (STR).