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| Empirical Analysis of Selected Indicators of the Nigeria Capital Market: 1986 – 2016 |
Akpokerere Othuke Emmanuel (Ph.D) and Ekane Raphael Ogagaoghene
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Abstract:
The study examined selected indicators of the Nigeria capital market from 1986 - 2016. The study was anchored on the supply leading hypothesis. Secondary data were sourced from the Central Bank of Nigeria Statistical Bulletin and Nigerian Stock Exchange factbook of various. The study adopted the ex-post facto research design while Ordinary Least Square regression techniques was used to process the data gathered using E-view 9.0 software. The finding of the study showed that there is a positive and insignificant relationship between market capitalization and Nigerian economic growth for the period under study. The study concluded that capital market lacked the capacity to significant enhance economic growth in Nigeria. Based on the findings, the study recommends among other that there is need for serious policy issues to be put in place to promote economic growth. For example there is need for large corporations’ shares to be listed in the Nigerian Capital Market as this will increase the all share index transaction in the market.
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