Financial Management/ Project Management

© Kamla-Raj 2010 J Soc Sci, 24(2): 135-142 (2010) An Empirical Analysis of the Impact of the Nigerian metropolis Market on Her Socio- frugal Development Pat Donwa and James Odia Department of Accounting, University of Benin, Benin City, Nigeria KEYWORDS nifty Market. Market Capitalization. Gross Domestic Product. New Issues ABSTRACT The neutral of this study was to empirically analyze the have-to doe with of the Nigerian ceiling merchandise on her socio-economic maturation from 1981 to 2008. The socio-economic development was proxy by the gross domestic product (GDP) while the not bad(p) market variables considered included market capitalization, total new issues, volume of dealing and total listed equities and Government stock. Using the ordinary least determine it was found that the capital market indices have not impact significantly on the GDP. The government is therefore advised to limit up measures to stem up investors confidence and activities in the market so that it could contribute significantly to the Nigerian socio-economic development. INTRODUCTION The capital market has been identified as an institution that contributes to the socio-economic growth and development of emerging and developed economies.

This is made possible through some of the vital roles played such as channeling resources, promoting reforms to modernize the financial sectors, financial intermediation capacity to link deficit to the scanty sector of the economy ,and a veritable tool in the mobilization and allocation of savings among competitive uses which are searing to the growth and efficiency of the economy (Alile 1984). It helps to channel capital or long-term resources to firms with relatively high and increasing productivity thus enhancing economic expansion and growth (Alile 1997). Ekundayo (2002) argues that a nation requires a lot of local and foreign investments to attain sustainable economic growth and development. The capital market provides a means through which this is... If you want to get a full essay, order it on our website: Orderessay

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