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ARTICLE SUMMARY
Title: Deposit Money Banks Lending and Agricultural Output in Nigeria
Author(s): S.N. AMADI & GBARAYORKS Lewis Dormaa
Abstract: The study empirically analyzed Deposit Money Banks’ lending and Agricultural output in Nigeria. Annual data from 1990 to 2021 were sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin, Annual Abstracts of Statistics by the National Bureau of statistics (NBS) and World Development Index. The Autoregressive Distributed Lag (ARDL) and the Bounds Co-integration were applied after Augmented Dickey-Fuller (ADF) unit test have been conducted. Empirical findings from the short-run shows that deposit money bank has negative and insignificant relationship with agricultural output and positive and insignificant relationship in the long-run. Furthermore, labour force employed in agriculture has positive and insignificant impact on agricultural sector in the short and long-run. The study recommends that deposit money banks should be invigorated through appropriate prudential monetary policy guideline by the apex bank, to lend more to the agricultural sector with deliberate selective interest rate policy for improved productivity and output. For such loans to have a significant, sustained and progressive impact on the agricultural sector output, it should be channeled into mechanized agriculture
Keywords: Deposit Money Banks Loan, Labour Force Employed in Agriculture, Agricultural Output, ARDL, Nigeria.
Journal: Journal of Contemporary Research in Economics and Development Studies (JCREDS)
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