Record Details

IMPACT OF CAPITAL MARKET ON THE DEVELOPMENT OF THE NIGERIAN ECONOMY

Archives of Business Research

View Archive Info
 
 
Field Value
 
Title IMPACT OF CAPITAL MARKET ON THE DEVELOPMENT OF THE NIGERIAN ECONOMY
 
Creator DUKE, STEPHEN BASSEY
NKAMARE, STEPHEN
 
Description This study attempts to investigate the performance of the Nigeria capital market and the growth of Nigerian economy from 1986-2005. Data on stocks were modeled to test for the relationship between market capitalization, the number of stock traded in the capital market and development in the economy (GDP). A multiple regression analysis involving the ordinary least squares estimation technique was employed to discover the composite effect of capital market indices such as government stocks, industrial stocks and equities on the development of the economy during the twenty years in review. The multiple correlation coefficients which measured the strength of association between the economic development and capital market performance was positive, indicating that there was a direct perfect relationship among the variables. The result also indicates that none of the variables (predictors) individually predicted GDP. In spite of the enormous opportunities provided by the on-going reforms and the booming economy, the capital market in Nigeria has performed below its potentials owing to a number of factors. Accordingly, it was recommended that there should be a strong need to put in place policy measures that would guarantee competitive participation and cause investors to stop the attitude of "buy and hold" of securities which will delay rapid development of Nigerian economy
 
Publisher Archives of Business Research
 
Contributor
 
Date 2015-08-25
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.scholarpublishing.org/index.php/ABR/article/view/1379
10.14738/abr.34.1379
 
Source Archives of Business Research; Vol 3, No 4 (2015): Archives of Business Research
2054-7404
10.14738/abr.34.2015
 
Language eng
 
Relation http://www.scholarpublishing.org/index.php/ABR/article/view/1379/772