In
contrast to the extensive work on bank credit per se, and despite its
importance in industrial sector and the extent of theoretical work, no major
academic research project has yet looked at links to commercial bank credit and
the industrial sector on a systematic, empirical, country specific basis. Also,
different cases studies and methodologies tend to produce different results.
Most of the studies used cross sectional data on countries that may be diverse,
raising the possibility that the empirical findings could be distorted by
heterogeneity biases affecting both bank credit and industrial development. In
Nigeria particularly, no study has gone further to analyze the impact of bank
credit on industrial sector development, specifically for the periods under
review. This research will fill the gap that has been over looked by the
literature on country specific basis. Hence, the fact that there are no
unlimited empirical evidences on the subject in Nigeria is an important motivation
for this very work at the moment.
