Contributions of the Nigeria Capital Market towards
Economic Development of the Country

Michael Chidiebere Ekwe (Ph.D., ACA); OJeh Augustine, ACA

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International Journal of Managerial Studies and Research

Volume 2, Issue 11, 2014, Page No: 1-4

Contributions of the Nigeria Capital Market towards Economic Development of the Country

Michael Chidiebere Ekwe (Ph.D., ACA) ¹, OJeh Augustine ACA ¹

1. Department of Accounting Michael Okpara University of Agriculture, Umudike, Abia State of Nigeria
2. Accountancy Department Godfrey Okoye University Enugu Nigeria

Citation : Michael Chidiebere Ekwe (Ph.D., ACA), OJeh Augustine, ACA, Contributions of the Nigeria Capital Market towards Economic Development of the Country International Journal of Managerial Studies and Research 2014 , 2(11) : 1-4

Abstract

This study examines the contribution of the Nigeria Capital Market by wing market capitalization and all share index. The capital market is the engine of growth and development in modern economies. A right legal and regulatory Framework under a free economy with free enterprise is the spring board for development of this market which is the long term end of the financial market. The absence of a capital market will hamper industrial growth. Data used in this study were obtained from Nigeria Stock Exchange. The range is from 1998-2013. Ordinary least square (OLS) technique was used to analyze the data. The study showed that Nigeria capital market contributes to economic development by using market capitalization and all shares index

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