The Effect of Capital Market on Economic Growth in Nigeria (2000-2012)

Emerah Ajevata Apollos, Oyedele Oloruntoba Stephen and Egbuwalo Moses Orimolade

International Journal of Financial Markets, 2015, vol. 1, issue 2, 55-61

Abstract: This study was aimed at determining the relationship among gross domestic product, market capitalization and all share indexes; and evaluating the effects of the capital market on economic growth in Nigeria. The period of study is 2000-2012.Secondary data were obtained from the Central Bank of Nigeria, Nigeria Stock Exchange and National Bureau of Statistics. The ordinary Least Squares Multiple Regression was used for the analysis. Unit root test was also carried out. The result indicated that there is a significant positive relationship among gross domestic product, market capitalization and all share indexes. The F-statistic showed that the capital market is promoting the growth of the Nigerian economy. It is therefore concluded that the capital market has contributed positively to the growth of the Nigerian economy during the period under review.

Keywords: Capital; Market; Economic growth. (search for similar items in EconPapers)
Date: 2015
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