Does the Capital Market Spur Economic Growth? Evidence from Nigeria

  • Taiwo Adewale Taiwo Adewale Muritala Fountain University Osogbo, Nigeria

Аннотация

This study critically examines the relationship between the capital market and economic growth of Nigeria. Data are mainly obtained from secondary sources, the CBN statistical bulletin over the period of 1980–2015. The results from the augmented Dickey Fuller unit root test show that all the variables were stationary at the level except RGDP, MCAP and TNI, which were stationary at the first difference. The results from Ordinary Least Square (OLS) reveal that total new issue, market capitalization, and total listing positively impact  the economy while the value of the transaction has a negative impact on real gross domestic product. The study recommends, among others, that the government implement measures to build up investors’ confidence in the capital market by fair transactions, by increasing investment instruments on the market; all the tiers of government should encourage funding their realistic development program through the capital market.

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Department of Accounting & Finance

Опубликована
2017-06-09
Как цитировать
TAIWO ADEWALE MURITALA, Taiwo Adewale. Does the Capital Market Spur Economic Growth? Evidence from Nigeria. Корпоративные Финансы, [S.l.], v. 11, n. 1, p. 90-99, июнь 2017. ISSN 2073-0438. Доступно на: <https://cfjournal.hse.ru/article/view/6771>. Дата доступа: 23 окт. 2017
Раздел
Новые исследования