Adeoye, Amuda Afolabi (2015) IMPACT OF THE NIGERIAN CAPITAL MARKET ON THE ECONOMY. European Journal of Accounting Auditing and Finance Research, 3 (2). pp. 1-9. ISSN 2053-4086(Print), 2053-4094(Online)

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There are elements upon which a nations’ economic development are dependent. The importance of Capital Market as one of the vehicles upon which most underdeveloped economies could grow cannot be overemphasized. The extent to which these economies experience the said growth is quite relative to the level of awareness and management of the market. Nigeria is not left out in the desire to maximize the gains of the capital market to boost its economy. This paper empirically examines the impact of the Nigerian Capital Market on the Nigerian economy looking at a 20 years period from 1992 to 2011. The Nigerian Capital Market was proxy as Market Capitalization against some variables of the economy such as Gross Domestic Product (GDP), Foreign Direct Investment, Inflation Rates, Total New Issues, Value of Transaction and Total Listing. Using the multiple regression analysis, we find that Capital Market has an insignificant impact on the Economy within the period under review. The study therefore advised that policies and measures that would boost investors’ confidence should be enshrined in the running of Nigerian Capital Market so that it could contribute significantly to the growth of Nigerian economy noting that all elements of the market are essential ingredients to the development of a nation.

Item Type: Article
Uncontrolled Keywords: Capital Market, GDP, Foreign Direct Investment, Inflation rate, Total new issues, Value of Transaction, and Total listing
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User: Mr. Victor Sebiotimo
Date Deposited: 14 Mar 2019 14:27
Last Modified: 14 Mar 2019 14:27

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