期刊名称：International Journal of Development and Sustainability
印刷版ISSN：2186-8662
出版年度：2014
卷号：3
期号：4
页码：838-864
出版社：International Society for Development and Sustainability (ISDS)
摘要：The objective of this study is to examine the impact of capital market on economic growth in Nigeria. The study adopts a time-series research design relying extensively on secondary data covering 1985 -2012. The studyutilizes regression analysis as data analysis method incorporating multivariate co-integration and error correction to examine characteristics of time series data adopting disaggregate the capital market indices approach. Observation across studies on this subject is the heterogeneity in empirical findings over what may be termed a considerably uniform theoretical framework at least with regards to causality. Our finding suggests that two exhibit positiv e while two exhibit inverse and statistically significant relationship with economic growth.This could stimulate dialogue on the implication for policy simulation. Recommendation is that relevant regulatory agencies should focus on enhancing efficiency and transparency of market to improve investor's confidence. Therefore the need for effective and favourable macroeconomic environment to facilitate economic growth and ensure that channels of capital market induced growth are built around effective systems; and that policy institutions are active in making systemic checks and appropriate policy innovations to ensure capital market led economic growth.
关键词：Capital Market; Economic Growth; Total Listing; Market Capitalization;Value of Transaction and Total New Issues
