2020 Archive
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Title: “The Capital-Market and Nigeria’s Economic Growth and Development Analysing the Last Two Decades”.pdf Author: AJAGBE T. S (PhD) MUSTAPHA. A & NAFIU A. I Abstract: ABSTRACT The primary and secondary markets are the two segment markets in capital market that cannot be overemphasis in any of the financial market in the world. The effectiveness of these markets has a great impact on a nation’s economy. This implies the way capital markets are managed has a greater impact on the economic growth and development. The paper analysed how the Nigerian capital market impacted on its national economic growth and development from the period of 1999 to 2018 which described the last two decades. Secondary source of data was gathered from the publications of Nigerian Stock Exchange (NSE). Multiple regression analysis was employed in analysing the variables via E-views 9.0 statistical package. Gross Domestic Product (GDP) was used as economic growth variable while Market Capitalisation (MCAP), Value of Transactions (VOT), All Shares Index (ASI) and Interest rate (INTR) were capital market variables. The results revealed that all the capital market variables were positively significant on economic growth and development in Nigeria within the period of under review except market capitalization which has negative impact. It is therefore, necessary for the government to improve with the implementing policies and measures that constantly increase investors’ self-confidence; make the market more efficient and more practical in inspection task to ensure that there is no room for prickly practices that might dent the integrity of the market. Keywords: All share index, Value of Transaction, Interest rate, Market Capitalisation, Economic Growth View |