Assessing the Extent of Development of the Nigerian Capital Market: A Comparative Analysis

Okey O. Ovat

International Journal of Financial Economics, 2014, vol. 2, issue 2, 73-81

Abstract: The paper examines the extent of development of the Nigerian capital market by analyzing key indicators of capital market development such as listing, market capitalization and turnover ratio, comparing them with those of other emerging markets of Malaysia, Indonesia, Korea Republic, Singapore, and South Africa. In all, the Nigerian capital market performs poorly relative to other emerging markets. The implication of this is that even though they are all listed as emerging markets, the Nigerian capital market is still lagging behind others in terms of development. Given the fact that a deeper, more liquid and more resilient capital market is desirable in view of the positive correlation between capital market and economic growth, the paper recommends the following options to accelerate the pace of development of the Nigerian capital market: increase in market size; improvement on market infrastructure and institutional arrangements, internationalization of the market and macro-economic stability.

Keywords: Capital market; Development; Comparative Analysis; Emerging Markets; Nigeria. (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://rassweb.org/admin/pages/ResearchPapers/Paper%204_1496864766.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rss:jnljfe:v2i2p4

Access Statistics for this article

More articles in International Journal of Financial Economics from Research Academy of Social Sciences
Bibliographic data for series maintained by Danish Khalil ().