The paper examined the effect of capital market on economic growth of Nigeria as case study covering a period of 2001 – 2017. The study used time series data in order to capture capital market revenue covering the period under review. The study employed ordinary least squares regression method to analyse the data obtained from the CBN statistical bulletin and World Bank. The study found that there was no significant positive relationship among some indices of economic growth and Capital Market in Nigeria. Relationship between transportation and capital market revenue; growth rate in GDP and capital market revenue were not significant; however adequate security and capital market revenue indicate positive significant relationship. The study recommends that power sector of the economy, Transportation facilities such as good road networks, availability of internet services, favourable governmental policies devoid of political selfish interest in addition to adequate security should be made available in order to make capital market function optimally and yield the expected revenue that will boost the economy.
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In-Text Citation: (Onuora, 2019)
To Cite this Article: Onuora, O. G. (2019). Effect of Capital Market on Economic Growth and Development of Nigeria (2000 - 2017). International Journal of Academic Research in Business and Social Sciences, 9(2), 211–220.
Copyright: © 2018 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
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