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Capital Market Development: A Spur to Economic Growth in Nigeria

Authors: Ismail Fasanya, ONAKOYA Adegbemi , Donald Ikenna Ofoegbu

Publication Type: Journal article

Journal: Acta Universitatis Danubius. Œconomica - Danubius Journals

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Abstract: This paper examines the relationship between capital market development and Nigeria’s economic growth using data covering the range of 1981 to 2010 using a Johansen Cointegration technique to test for long run relationship among the variables under study. The empirical findings from the research work suggest that the capital market is an essential catalyst for economic growth and is on the average and beneficial to the economy. However, the high costs of raising capital and structural imbalances in the market as well as inconsistent government policies may distorts the speedy growth of the market and thus, limit its positive impact on the economy. Keywords: Financial Institutions; Economic Growth; Cointegration; Nigeria

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Ismail,O.F ONAKOYA,A. Donald,I.O . (0000). Capital Market Development: A Spur to Economic Growth in Nigeria, 9 (), 222-222.

Ismail,O.F ONAKOYA,A. Donald,I.O . "Capital Market Development: A Spur to Economic Growth in Nigeria" 9, no (), (0000): 222-222.

Ismail,O.F and ONAKOYA,A. and Donald,I.O and . (0000). Capital Market Development: A Spur to Economic Growth in Nigeria, 9 (), pp222-222.

IsmailOF, ONAKOYAA, DonaldIO, . Capital Market Development: A Spur to Economic Growth in Nigeria. 0000, 9 ():222-222.

Ismail,O. Fasanya, ONAKOYA,Adegbemi , and Donald,Ikenna Ofoegbu . "Capital Market Development: A Spur to Economic Growth in Nigeria", 9 . (0000) : 222-222.

I.O. Fasanya O.Adegbemi & D.Ikenna Ofoegbu , "Capital Market Development: A Spur to Economic Growth in Nigeria" vol.9, no., pp. 222-222, 0000.

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