Impact of Capital Market Development on the Nigerian Economy: A Post-SAP Analysis

  • Adeusi S.O.
  • Azeez B.A. .
DOI: https://doi.org/10.22610/jebs.v5i1.374

Abstract

This paper addresses the impact of capital market development on economic growth and development since the liberalization policy in 1986 to 2010 in Nigeria. It employs Ordinary Least Square (OLS) and Johansen CO-integration estimation techniques. Gross Domestic Product (GDP) was used as measure for economic growth while the capital market development are represented with Market Capitalization (MCAP), Total Value of Transaction (TVT), Total New Issues (TNI), All-Share Index (ALSI) and Total Listing on the NSE (TLT). The result of the study shows that capital market development has not impacted positively on Nigeria economic growth and development due to the relative small size of the market despite its development as a result of the liberalization policy. Thus, it recommends that policies that would encourage domestic as well as foreign investors to participate in the market should be formulated.

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Published
2013-01-30
How to Cite
S.O., A., & ., A. B. (2013). Impact of Capital Market Development on the Nigerian Economy: A Post-SAP Analysis. Journal of Economics and Behavioral Studies, 5(1), pp. 1-7. https://doi.org/10.22610/jebs.v5i1.374
Issue
Vol 5 No 1 (2013)
Section
Research Paper

Copyright (c) 2013 Journal of Economics and Behavioral Studies

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