CAPITAL MARKET IMPACT ON ECONOMIC GROWTH IN NIGERIA
Abstract
The study investigates Capital Market Impart on Economic Growth in Nigeria. The purpose of this study is to ascertain the level of relationship between Stock Market Capitalization and Gross Domestic Product in Nigeria, and to determine if All - Share Index affects Money Supply of the Nigerian Economy. The researcher made used of Ex-post factor research design and this means the use of historical data from Nigerian Stock Exchange Market and Money Supply of Nigerian Economy. The case study of the research work is Nigeria Stock Exchange from year 2009-2014. Frequency distribution table and descriptive statistics was used for data presentation and analysis while regression analysis was used for test of hypothesis, it was discovered that Market Capitalization does affects the Gross Domestic Product (GDP) an All -Share Index (ASI) affects the Money Supply of Nigerian economy. Therefore it was recommended that there should be concerted effort by government and particularly the securities and exchange commission to improve operations of the Nigerian Stock Exchange so as to ensure mobilization of informal credit and government should intensify efforts to make the Nigerian economy self-sufficient as depended on other economies of the world has left the capital market vulnerable and this case was exemplified in the just ended global financial meltdown
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