CAPITAL MARKET PERFORMANCE AND ECONOMIC GROWTH IN NIGERIA

This study examines the impact of capital market performance on
economic growth of Nigeria for the period 1986 – 2013. Economic
growth was proxied by gross domestic product while capital market
performance was represented by market capitalization, total new issues,
volume of transaction and listed equities. Data was collected using
secondary source of data only. The technique employed was multiple
regression as tool of analysis for the study. The findings of the study
reveal that the capital market performance has positively and
significantly impacted on the Nigerian economy within the period of the
study. The study therefore, recommends among others that the Central
Bank of Nigeria (CBN), the Nigerian Stock Exchange (NSE) and
Security and Exchange Commission (SEC) should ensure free flow of
information in the market. This is necessary in order to attract more
investors and increase new issues which will automatically increase the
quantum of market capitalization that will result in increasing the
performance of the Nigerian capital market and hence, improves the
Nigerian economy.