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INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2456-4184 | Impact factor: 8.76 | ESTD Year: 2016 Scholarly open access journals, Peer-reviewed, and Refereed Journals, Impact factor 8.76 (Calculate by google scholar and Semantic Scholar | AI-Powered Research Tool) , Multidisciplinary, Monthly, Indexing in all major database & Metadata, Citation Generator, Digital Object Identifier(DOI) |
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| Paper Title: | IMPACT OF CAPITAL MARKET ON ECONOMIC GROWTH IN NIGERIA |
| Authors Name: | Ariyo Clement Olugbenga , Mokuolu, Joseph Oluseye (Ph.d) , Adejayan, Adeola Oluwakemi |
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IJNRD_217359
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| Published Paper Id: | IJNRD2404724 |
| Published In: | Volume 9 Issue 4, April-2024 |
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| Abstract: | This study examined impact of capital market on economic growth in Nigeria from 1990 to 2022. Specifically, the study investigated the impact of market capitalisation on the economic growth in Nigeria; analysed the impact of all share index on the economic growth in Nigeria and examined the impact of inflation on growth in Nigeria. Gross Domestic Product (GDP) was used as a proxy for economic growth which is dependent variable while market capitalisation (MCAP), all share index (ASI) and inflation (INFR) were used as independent variables. Also employed, Auto Regression Distributed Lag (ARDL) model as estimated technique. The result revealed that Market capitalisation has a positive and significantly related to gross domestic product in the long run, all share index was found to be positive and insignificantly related on gross domestic product in the long run and lastly, inflation rate was found to be positive and insignificantly related to gross domestic product and concluded that capital market has a positive and insignificant impact on economic growth in Nigeria in the long run. Therefore, the study recommended that government should formulate appropriate economic policies that ensures the stability of share prices to encourage both national and foreign investors participation in capital market in Nigeria; that government should place greater emphasis on financial sector development with special focus on capital market development to ensure economic growth in Nigeria; that government through the regulatory authority should monitor the country’s inflation rate. |
| Keywords: | Keywords: Gross Domestic Product (GDP), Market Capitalisation (MCAP), All Share Index (ASI), Total New Issues (TNI), Volume of Share Traded on Capital Market (VSTCM) and Inflation (INFR) |
| Cite Article: | "IMPACT OF CAPITAL MARKET ON ECONOMIC GROWTH IN NIGERIA", International Journal of Novel Research and Development (www.ijnrd.org), ISSN:2456-4184, Vol.9, Issue 4, page no.h192-h202, April-2024, Available :http://www.ijnrd.org/papers/IJNRD2404724.pdf |
| Downloads: | 00067 |
| ISSN: |
2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
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Published Paper ID:IJNRD2404724 Registration ID: 217359 Published In: Volume 9 Issue 4, April-2024 DOI (Digital Object Identifier): Page No: h192-h202 Country: Ado Ekiti, Ekiti State, Nigeria Research Area: Management Publisher : IJ Publication Published Paper URL : https://www.ijnrd.org/viewpaperforall?paper=IJNRD2404724 Published Paper PDF: https://www.ijnrd.org/papers/IJNRD2404724 |
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ISSN: 2456-4184
Impact Factor: 8.76 and ISSN APPROVED
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