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The Role of Commercial Banks in Economic Growth in the UK
Subject area: Management and Commerce · Area of research: Economics and Accounting
Abstract
This study investigates the role of commercial banks in fostering economic growth in the United Kingdom. The first chapter presents the research background, problem statement, and the study's aims and objectives. Additionally, it discusses the significance of banking on economic expansion, focusing on credit provisions as stimulants for job creation, production, and investment. A literature review in Chapter Two assesses theoretical and empirical findings on commercial banks' contributions to the UK economy. The methodology, detailed in Chapter Three, employs qualitative data analysis through thematic analysis to examine insights from policymakers and banking professionals on lending's impact on GDP. The study findings emphasize commercial banks' positive role in financial inclusion and economic stability, while addressing the need for robust credit management to mitigate associated risks. Final recommendations underscore enhanced risk management, improved financial inclusion, and a balanced approach to supporting infrastructure projects aligned with national economic goals.
Keywords
Banks, United Kingdom, Economy, Growth
How to cite this paper
@article{1706474,
author = {Najeem Adekunle Olawale, Blessing Opeyemi Olayiwola},
title = {The Role of Commercial Banks in Economic Growth in the UK},
journal = {Iconic Research And Engineering Journals},
year = {2024},
volume = {8},
number = {5},
pages = {227-251},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1706474.pdf},
abstract = {This study investigates the role of commercial banks in fostering economic growth in the United Kingdom. The first chapter presents the research background, problem statement, and the study's aims and objectives. Additionally, it discusses the significance of banking on economic expansion, focusing on credit provisions as stimulants for job creation, production, and investment. A literature review in Chapter Two assesses theoretical and empirical findings on commercial banks' contributions to the UK economy. The methodology, detailed in Chapter Three, employs qualitative data analysis through thematic analysis to examine insights from policymakers and banking professionals on lending's impact on GDP. The study findings emphasize commercial banks' positive role in financial inclusion and economic stability, while addressing the need for robust credit management to mitigate associated risks. Final recommendations underscore enhanced risk management, improved financial inclusion, and a balanced approach to supporting infrastructure projects aligned with national economic goals.},
keywords = {Banks, United Kingdom, Economy, Growth},
month = {November},
}