THE IMPACT OF CAPITAL MARKET ON DEVELOPMENT OF NIGERIA ECONOMY
ABSTRACT
This study tends to improve the impact of capital market on development of Nigerian economy. The study will proceed from the general over view of capital market, statement of problem in this research work are failure of federal government to create awareness to the people. The primary objective of the research work was to evaluate the impact of capital market on Nigeria economy. Research hypothesis that was used in actual frequencies decision rule and interpretation of result, the source of data are through primary and secondary source of data collection, and method of data analysis based on the questionnaire administered to the staff of Nigeria Stock Exchange (NSE) Abuja. Interview conducted with the lenders and investors and observations made at the Nigeria Stock Exchange house. Conclusion the recapitalization policies by the central Bank of Nigeria on commercial Banks strengthens the financial institutions and restores confidence in the financial system.
CHAPTER ONE
1.0 INTRODUCTION
This research work is titled the impact of capital market on development of Nigeria economy. The Nigeria capital market is a highly specialized and organized financial market and indeed essential agent of economic growth and development because of its ability to facilitate and mobilize saving and investment.
To a greater extent the positive relationship between capital accumulation and real economic growth has long been affirmed in economic theories (Anyanwu 1996).
1.1 BACKGROUND OF THE STUDY
The Nigeria capital market is a complex institution where medium and long term funds are put together and made available and also instruments like stocks shares, debentures and bonds are transformed. The financial institution comprises of the Nigeria market includes commercial banks, merchant banks, development bank, insurance companies unit trust, pension fund and the stock exchange. The capital market is broadly categorized into two classes:
