CAPITAL MARKET AND ECONOMIC GROWTH OF NIGERIA
Abstract
ABSTRACT
The capital market plays a vital role in mobilizing long-term funds necessary for economic development. In developing economies such as , the efficiency and growth of the capital market can significantly influence national productivity, investment opportunities, and industrial expansion. This study investigates the relationship between capital market activities and economic growth in Nigeria.
The research specifically evaluates the contribution of capital market indicators such as market capitalization, stock market turnover ratio, and value of transactions to the growth of Gross Domestic Product (GDP). Secondary data covering a period of several years were analyzed using descriptive and econometric methods.
Findings reveal that the capital market has a positive relationship with economic growth, although the level of impact varies depending on macroeconomic stability, investor confidence, and regulatory efficiency. The study concludes that strengthening capital market institutions, improving transparency, and expanding investor participation are critical steps toward maximizing the market's contribution to Nigeria’s economic development.
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