Economics, Econometrics and Finance
3 years ago

Stock exchange activities drive Nigerian economic development, boosting local participation.

RePEc: Research Papers in Economics
Stock exchange market activities and Economic Development: Evidence from the Nigerian economy
Babatunde Moses Adesanya, Adebisi Moses Adediji, Nwabueze Prince Okenna

Paper Summary

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The study looked at how stock market activities affect economic development in Nigeria. They used data on market capitalization, share index, and transaction volume from the Central Bank of Nigeria. The analysis showed that market capitalization had a positive but not significant impact on GDP. However, both the share index and transaction volume had a positive and significant relationship with GDP. The researchers suggest that improving transparency and encouraging local participation in the stock market could help boost economic development in Nigeria.