Get the complete project »
- The Complete Research Material is averagely 69 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦4,000
1.1 Background of the Study
Economic growth for developing countries has important indications for poverty elimination and world economic development. This has been the goals of world financial institutions such as World Bank and International Monetary Fund (IMF) to study economic development of Abia State and how to quicken the country’s development.
The financial institution plays this importance in the development of the economy through granting of loans and advances thereby providing short-term and medium term capital for investors. The loans and advance may be in the form of direct loans, overdraft or by the discounting of bills with amount borrowed; investors could finance various projects in the area of industry, agriculture and commerce. This therefore helps to speed up economic development (Ebuka 2001). The apex bank helps to develop the financial markets by training indigenous personnel in the art of monetary management and by encouraging the growth of financial institution which operate in these markets. The development of the financial system helps to provide investment outlets in securities such as treasury bills, shares, stock etc. through money and capital markets that provide capital (Pandy, 2004).
So, the developmental roles of financial institutions on economic development of Abia but across the following sectors to includes, traditional financial institution, financial market, financial regulations, theory of economic growth and financial development and other financial institutions. Financial institution include, commercial banks (Joint stock banks), discount houses acceptance houses (Merchant banks), finance houses, the central banks, saving banks, development bank, insurance companies, hire purchase companies, the national provident fund, the stock exchange, building societies etc.
The banking decree (1961) in Nigeria specialized types of financial institutions which carryout banking business. A common feature of such banking financial institutions is that they accept deposits, but the use of which they put such deposits differs in detail. The four institutions specifically mentioned were commercial bank, discount house, acceptance houses and finance houses.
1.2 Statement of the Problem
In recent times, customers and business men who rely on financial institution for supply of funds are having difficulty because of high interest rates. The process if setting such facility is sometimes rigorous thus incapacitating a fast growth rate in business and economic development. The requirement of collateral security before a facility can be given to a customer is a problem because before one decides to go for a financial help it is obvious he doesn’t have anything or probably he is trying to rise up. In most cases some customers are not properly advised on what business to venture into.
1.3 Objectives of the Study
The main objectives of the research are:
1. To offer a detailed and realistic study of the ministry of economic over the recent decades.
2. To review partially the literature concerning growth theory, economic growth and financial institution.
3. To investigate the contribution of financial institutions to the economic growth using deposit/GDP ratio etc in a developing state setting in ministry of economic.
4. To study the development of the commercial banks in the ministry of economic in recent decades; and
5. To find out measures of curbing factors militating against financial institutions.
1.4 Research Hypotheses
H0: Financial institutions do not help the local entrepreneurs to set up their business.
H1: Financial institutions help local entrepreneurs to set up the business.
H0: Financial institutions do not play a major role in economic development.
H1: Financial institutions play a major role in economic development.
1.5 Significance of the Study
Obviously, the essence of academic research project is to promote intellectual advancement and academic excellences. This research will be of immense benefit to all interested readers, such as the student’s managers, business investors, debtors and creditors. The government, individuals, foreign investors, share holders, prospectus investors. It will also be of added advantage that in adding value to existing related literature and future researchers.
1.6 scope of the Study
This research project is based on the developmental roles of financial institution on economic development of Abia with a particular reference to ministry of economic development, Umuahia Abia State.
1.7 Limitation of the Study
It will be a non-challenge to state here clearly that the major constraints to this research study are the financial constraints, limited time due to academic calendar. It is with notice that due to the above constraints the research could not cover the area of interest and call for optimum support in the future research.
1.8 Definition of Terms
Financial Institution: Financial institution is an institution that provides financial services for its clients or members.
Development: Development is the act of bringing to a more advanced state, growth and progress.
Economic: Economic is a system of a country or other area, the labour, capital and land resources and the manufacturing, production trade, distribution and consumption of goods and services of that area.
Decision Rule: If the calculated value is greater than the critical value reject the null hypothesis, but if the critical value is greater than the calculated value accept the null hypothesis.
Share a Comment
You can find more project topics easily, just search
SIMILAR ACCOUNTING FINAL YEAR PROJECT RESEARCH TOPICS
1. ENVIRONMENTAL FACTORS INFLUENCING CONSTRUCTION TIME AND COST OVERRUNS ON HIGH-RISE PROJECT IN NIGERIA» CHAPTER ONE INTRODUCTION 1.0 Background of the study The expanding need for building of all kinds, coupled with a tight financial supply has offer the...Continue Reading »
52 pages | 0 hits | Source: ACCOUNTING
» ABSTRACT The paper examined the effect of accounting information on decision making process, with a particular reference to the Nigerian breweries plc...Continue Reading »
52 pages | 223 hits | Source: ACCOUNTING
3. A COMPARATIVE ANALYSIS OF THE IMPACT OF INVENTORY VALUATION METHODS ON FINANCIAL REPORT STATEMENT IN SOME MANUFACTURING COMPANIES IN ENUGU STATE» ABSTRACT This research work was conducted on with special reference to the impact inventoryvaluation methods has on financial report statements of man...Continue Reading »
190 pages | 0 hits | Source: ACCOUNTING
» ABSTRACT Inventory management has posed a great concern to manufacturing firms. This will be attributed to the very nature of inventory as a major con...Continue Reading »
58 pages | 410 hits | Source: ACCOUNTING
5. ECONOMIC CHARACTERISTICS AND FINANCIAL PERFORMANCE OF SELECTED MANUFACTURING COMPANIES IN NIGERIA» CHAPTER ONE INTRODUCTION 1.1 Background to the Study Organizations are institutions deliberately designed to achieve and accomplish certain goals and ...Continue Reading »
112 pages | 189 hits | Source: ACCOUNTING
6. ART AND POLITICS IN WOLE SOYINKA’S THE BEATIFICATION OF AREA BOY AND OLA ROTIMI’S OUR HUSBAND HAS GONE MAD AGAIN» ABSTRACT This study has been able to show how Wole Soyinka and Ola Rotimi have treated politics artistically in their various texts. This study aims a...Continue Reading »
52 pages | 240 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.1 Background to the Study Many people want to be on their own following the nationwide campaign for self employment, this i...Continue Reading »
52 pages | 183 hits | Source: ACCOUNTING
8. Roles Of Tax Authority In The Prevention And Detection Of Tax Fraud In Nigeria Case Study Of Oyo State Board Of Internal Revenue Service And Selected ...» CHAPTER ONE INTRODUCTION 1.0. BACKGROUND TO THE STUDY Taxation is not a new word in Nigeria or the world as a whole. In Nigeria, taxation has been in ...Continue Reading »
50 pages | 452 hits | Source: ACCOUNTING
» CHAPTER ONE 1.0 Introduction Credit generally denotes loans and advances made either directly or indirectly by a creditor (lender) to a debtor (borrow...Continue Reading »
54 pages | 230 hits | Source: ACCOUNTING
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND TO THE STUDY Inventory in the form of raw materials, work in progress and finished goods constitutes significa...Continue Reading »
52 pages | 105 hits | Source: ACCOUNTING