This study investigated the efficiency of the nigerian capital market from 1986 to 2009 through the random walk theory, the rate at which stock information is reflected in stock price and its impact on nigeria's economic development this was done because the capital market has been proven to be a hub and catalyst for. The financial sectors of the economy by providing further public and institutional education on the value of stock markets for economic development keywords: economic growth stock market developments ardl-bounds testing approach nigeria jel classification: c32 g15 o16 o47 1 introduction. Vol6, no3, 2015 60 nigerian capital market: a catalyst for sustainable economic development abu ikponmwosa noruwa department of finance,university of lagos [email protected] aguda niyi a banking and finance department,waziri umaru federal polytechnic,. Proceedings of the second middle east conference on global business, economics, finance and banking (me15dubai a catalyst of economic growth and sustainable development if it is well harnessed and capital market sustained capitalization on the nigeria's economic growth is the main issue of. Transactions – are catalysts for technological innovation and economic development the pace at which this is achieved depends much on the health of the financial system the nigerian stock exchange is a key determinant of the nigerian financial system the nigerian stock exchange provides the essential facilities for. Promote the development of its stock market as a catalyst to economic growth keywords: stock market development, economic growth, var, superexogeneity, thailand introduction the role of financial markets in fostering macroeconomic performance has been well-stated in the literature arguably, the financial markets. Nigerian capital market: a catalyst for sustainable economic development the capital market is the segment of the financial market which facilitates the mobilization and allocation of medium and long-term funds through the issuance and trading of financial instruments such instruments, otherwise known as securities,.
Investors and companies to the significance of the stock market equity financing became one of the cheapest and flexible sources of finance from the capital market and remain a critical element in the sustainable development of the economy (okereke-onyiuke, 2000) though stock market is growing it is however. The study examines the impact of capitalization of the nigerian capital market and it's on the growth of the growth, which ran from economic growth (gdp) to capitalization of the stock market (mcap) at 5 percent mckinnon (1973) and shaw (1973), have demonstrated that financial system could be a catalyst of economic. Have better developed financial intermediaries thus, they conclude that stock market development goes hand-in-hand with financial intermediary development osinubi (1998) examines whether stock market promotes economic growth in nigeria between the period 1980 and 2000, using regression.
Resources  the desire to develop financial market in an economy is intimately connected with the objective of countries, nigeria inclusive, prediction of the stock market is still not a simple task this is we examine the ability of artificial neural network in the prediction of gdp representing nigeria's economic growth for. Demonstrated this view by showing that financial sector could be a catalyst of economic growth however, the financial sector is expected to be developed and healthy for development on economic growth in nigeria from 1990 to 2010 essentially in nigeria, adebiyi (2005) investigates the link between stock market. Catalytic role in the process of economic development the financial financial institutions corroborating this view is the result of a research by nwaogwugwu ( 2008) and dabwor (2009) on the stock market development and economic growth in between growth in capital market activities and economic growth in nigeria.
Characterized by structural and operational weaknesses and that their catalytic role in promoting private sector led growth could further be enhanced through a more pragmatic reform the nigerian capital market is an important component of the nigerian financial system according to anyanwu (1993), the financial market. In recognition of the acclaimed catalytic impact of developed stock markets on economic growth, a plethora of studies now focus on the relationship between stock this study therefore represents an attempt to re-examine the finance- growth relationship from the perspective of the stock market in nigeria.
Point (sanusi, 2010) this coincided with the period of global financial crisis which began in the middle of 2007 in the united states and spread into nigeria in 2008 (david-wayas, 2014) thus, the aim of the study is to investigate the causal relationship between stock market performance and economic growth this is in line. Structure of the nigerian financial system and this is followed by an analysis of the evolution of the nigerian capital market in section 3 section 4 discusses the role of the nigerian capital market in the country's economic development analysis of the financial institutions and savings behaviour is given in section 5.
Wwwgarphcouk ijarmss | 75 1 introduction investment remains the major catalyst to economic growth, while resource mobilization and allocation forms a vital pre-requisite to investment, the role of financial intermediary like stock exchange market in securing liquidity for long term investors cannot be undermined. Provide access to finance for new and smaller companies and encourage institutional development in facilitating the setting up of nigeria's domestic funds, foreign funds and venture capital funds - the summary of the above functions is that the nigerian capital market helps to stimulate industrial as well as economic.
This research work focuses on effect of nigerian stock exchange on industrial development, the study examined stock market economic growth nixies in the of different shares to be trades and providing abroad market in government securities its economics significance depends on its ability to mop up financial capital for. Stock market has been associated with economic growth through its role as sources for new private capital on the other hand, economic growth may be the catalyst for stock market growths according to osamwonyi (2005:4), “a stock exchange is an arrangement for trading financial securities and where. A catalyst for economic growth at the nigeria international conference on financial sector strategy, june 2007, abuja countries with better-developed financial systems tend to grow faster the levels of banking development and stock market liquidity each exerts a positive influence on economic growth. The capital market is viewed as a major catalyst to industrial growth and indeed economic the nigerian stock exchange market on the general economic development of the nation but more particularly specifically the capital market ( also called the securities market) is a financial frame work for facilitating the transfer of.
Category due to the prevalent of asymmetric information and overbearing regulation, but its catalytic role in the provision of long term funds had immensely helped in the nigeria's economic growth and development solomon (2009) and emmanuel (2010), observe that there is a positive correlation of financial market and. Keywords: supply-leading hypothesis financial development economic growth causality test nigeria correspondence author: growth catalysts in developing economies in nigeria, it is the effect of financial deepening on economic growth from 1981 to 2010 by combining a proxy of banking sector and stock market. Nigeria context it establishes the type of relationship and level of significance of globalization and capital market on the economic development globalization concept is sound economic reform and financial policies are necessary to achieve sustainable development in national economies, but also as a catalyst for.