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February 2013 Vol.
2(2)
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Pubmed for articles by:
Okoye
VO
Nwisienyi
KJ
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Global
Advanced Research Journal of Management and Business Studies
(GARJMBS) ISSN: 2315-5086
February 2013 Vol.
2(2), pp
120-125
Copyright © 2013 Global Advanced Research Journals
Full Length Research Paper
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The capital
market contributions towards economic growth and
development; the Nigerian experience
Okoye Victor O1*
and Nwisienyi Kenechukwu J2
1Director
Consultancy Unit, Federal Polytechnic Oko, Anambra
State, Nigeria
2Department
of Banking and Finance, Federal Polytechnic, Oko,
Anambra State, Nigeria
*Corresponding Author’s E-mail:
okoyevictor26@yahoo.com
Accepted 05 February 2013
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Abstract |
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This study examined the impact the capital market
has on the Nigerian economy, using time series data
for 10-year period; 2000 – 2010. The model
specification for the analysis of data is multiple
regression and ordinary least squares estimation
techniques. The gross domestic product was adopted
as the dependent variable while the all-share index,
market value and market capitalisation were the
independent variables. The result showed that there
are significant relationship between share index,
market value and market capitalisation on GDP. This
implies that the GDP is affected by the movement of
the capital market’s share index, market value and
market capitalisation. In other words, the capital
market has impacted significantly on the economy for
the years under review.
Keywords:
Capital Market, economy, analysis, Nigeria
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