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Capital Market Contribution To Economic Growth

857 Words4 Pages

Capital as a factor of production plays a leading role in economic development and the function of the financial market in making funds available to the deficit units from the surplus unit, can be seen as a tool to enhancing capital formation . According to Bakare (2011), Capital formation refers to the proportion of present income saved and invested in order to augment future output and income.
Economic theories have shown that capital formation plays a crucial role in the models of economic growth. Growth models like the ones developed by Romer (1986) and Lucas (1988) predict that increased capital accumulation can result in a permanent increase in growth rates. The neoclassical economists suggest that economic growth is entirely …show more content…

Echekoba Felix Nwaolisa (2013) in his works on the effect of Capital market and economic development of Nigeria under democracy concludes that despite the popular belief that democracy promotes investments friendly environment, the Nigerian capital market seems not to have lived up to expectation in terms of its contribution to economic …show more content…

Economic variables in Nigeria are changing, the economy is looking up and appears the polity is stable. It is in the light of these submissions and economic trend that more research should be done to ascertain the effect of capital market development on economic growth in Nigeria.
RESEARCH OBJECTIVES
In view of varying conclusions above, the broad objective of this study is to evaluate the impact of the Nigeria Capital Market on economic development in Nigeria from year 2000 to 2015 by using additional variables that previous work did not use . The specific objectives are as detailed below :
I. To examine the role and development in the Nigerian capital market.
II. Appraise the activities of the Nigerian Capital Market and how it affects economic growth in Nigeria using the market capitalisation, capital market liquidity, treasury bill rate,
SPECIFIC

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