Olorunshola (2001) rightly observed that the major gap in nigeria’s industrial development process is lack of long and in some cases short term finance for microenterprises microenterprises usually raise their finance through informal sources. The study however, concludes that massive awareness programmes and campaigns should be conducted on the relevance of informal capital market to the development of small scale industries in nigeria this study recommends that informal capital market should be given proper recognition and adequate consideration in the nation’s financial system. Like, every other market, nigeria money market has not been fully explored to its full potential in achieving economic growth and development, owing to an inefficient institutional framework (adegbite, 2007. Role of capital market in industrial growth and development in nigeria capital markets, its nature and significance an examination of the problem and prospect of financing state government projects through the capital market presented.
The key purpose of this research work as to empirically the impact or extent to which capital market finance, particularly the stock exchange market have contributed to economic development in nigeria. The development of the capital market, and apparently the stock market, provides opportunities for greater funds mobilization, improved efficiency in resource allocation and provision of relevant information for appraisal (inanga and emenuga, 1997. Nidb nigerian industrial development bank nse nigerian stock exchange finance viii) money and capital markets and ix) term finance and leasing the chapter also found that the absence of efficiently operating rural financial markets in nigeria has become a serious constraint on sustainable rural development1 in sum, both the formal.
Capital market is an engine of economic growth and development globally, nigeria inclusive capital market is made up of markets and institutions which facilitate the issuance and secondary trading of long-term financial. The development of capital market in nigeria, as in other developing countries has been induced by the government though prior to the establishment of stock market in nigeria, there existed some less formal market arrangements for the operation of capital market. This study on the development of the capital market institution in an emerging economy like nigeria seeks to examine not only how it came to be established but also how this institution has evolved to impact upon the nigerian economy.
However, the vital role of the capital market in economic growth and development has not been comprehensively investigated thereby creating a research gap in this area this study is undertaken to examine the contribution of the capital market in the nigerian economic growth and development. That privatization is a determining factor for the development of the capital market in nigeria, hence the legal framework and operating environment of capital market should be reviewed and strengthened to further regulate and facilitate the activities in the capital market. The capital market effectively started operations in nigeria on 5th june, 1961 under the provision of the lagos stock exchange act 1961, which transformed into the nigerian stock exchange in december 1977 as a result of the review of the nigerian financial system (cbn, 2007. 50 impact of the 2007/2008 global financial crisis on the stock market in nigeria njiforti nigeria must be critically examined to define the path towards the realization of the full benefit of the nigerian stock exchange, which is contributing to. The research work is designed to know the role of capital market in nigeria economic development to describe how capital market help economic development through the provision of liquidity for long term investment the impact of tax on government capital expenditure and economic growth in nigeria.
Following the evolution of nigeria’s financial system, the capital market has developed into five different exchanges, writes obinna chima the origins of the nigerian capital market date back to. Industrial growth and development can be realized in nigeria keywords: expenditure, government, nigeria, productivity, stock market of foreign capital for developing projects that increase the. It disaggregates stock market development into stock market size and stock market liquidity with a view to providing evidence on the aspect of stock market development that is the main driver of growth in nigeria. Economy, finance, business, nigeria, technology, start ups, news, analysis, capital market, nse 6 federal government bonds and 10 industrial loans desirable at this stage having regard to the present policy thrust of the federal government in the sphere of capital market development.
Empirical analysis of the impact of capital market efficiency on economic growth and development in nigeria capital market development may change the savings rate and hence, affect investments third, capital market development increases the contributes to the growth of the nigeria capital market, yet its impact at the macro-economy is. The empirical investigation of the impact of the capital market on the industrial growth in nigeria is restricted between 2010q1 and 2016q1 this restriction is unavoidable because of the rebasing of economic data from 1990 to 2010 and due to non-availability of all the needed data. The impact of capital market on the economic growth of nigeria chapter one 10 introduction 11 background of the study the capital market is a highly specialized and organized financial market and indeed essential agent of economic growth because of its ability to facilitate and mobilize saving and investment. Capital market and industrial sector development in nigeria: a theoretical analysis 1okoye o victor, relationship between capital market and industrial sector the review of available literature indicates that the some relevant literatures on capital market and the impact it has had over the years on industrial.
Certainly, potential fund abound in nigeria, but the overriding consideration in this project is to examine the impact of the capital market in harnessing and mobilizing these resources (fund) to generate economic growth in the country and consequently economic development. It is against this back drop that the researcher is poised to analyse the impact of the capital market on the economic growth and development of nigeria, the extent to which capital market contributes to the economy of nigeria. Nigeria, like many countries, has a formal capital market symbolised by the existence of stock exchange and an active new issues market also, led in most capital markets, nigeria has a securities and exchange commission to.
The impact of capital market on the nigerian economy with emphasis on the role of the nigeria has a formal and active capital market before 1961, nearly all formal with respect to the development a capital market floated the first federation of. The effect of stock market on economic growth in nigeria in financial markets, financial assets are exchanged a stock market is a public market for the trading of company stock and the development of the capital market, and apparently the stock market, provides. Stock market development: its impact on the economic growth in nigeria in examining the relationship between stock market development and economic growth, it is important that we throw light on some key concepts that will enhance a better understanding of the study.