Economics, Econometrics and Finance
8 years ago

Capital market development in Nigeria boosts economic growth significantly

DLSU Business & Economics Review
Empirical Analysis of Impact of Capital Market Development on Nigeria's Economic Growth (1981–2008) (Case Study: Nigerian Stock Exchange)
Rowland Tochukwu Obiakor, Andy Titus Okwu

Paper Summary

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The article examines how the development of Nigeria's stock market from 1981 to 2008 affected the country's economic growth. The researchers used a statistical model to analyze the relationship between different stock market indicators and economic growth. They found that market capitalization, gross capital formation, and foreign private investment had a significant positive impact on economic growth. However, the value of shares traded did not have a significant impact. Overall, the study suggests that developing the capital market can lead to faster economic growth by increasing capital accumulation and productivity.