Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 10, 2023 erstellt
Description:
This study aims to examine the relationship between capital market and economic growth in Nigeria from 1985 to 2021. The study employed Johansen cointegration and Vector Error Correction Model (VECM) to analyse the relationship. Findings reveal, among others, that the Johansen Normalized Cointegration indicates that in the long-run, all share index and total value of transactions have a negative impact while market capitalization and number of deals has a positive impact on economic growth. In addition, the short run results also reveal that all share index, number of deals and total value of transactions have positive and significant effect on economic growth while market capitalization is negatively related. The findings suggest that the Nigerian capital market would benefit from the active participation of the real sector and other regulatory authorities through an expansion of the production base, increased public awareness, and a lowering of entry and listing requirements for a sound and robust participation