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Impact of Investment on Stock Market Development in Nigeria

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  • Ebele Sabina Nsofor

Abstract

This paper empirically examined the impact of investment on stock market development in Nigeria from 2001-2010. Investment was proxy by gross fixed capital formation and stock market development proxy by market capitalization. The study employed Secondary data from Central Bank of Nigeria Statistical Bulletin. The study employed Ordinary least square regression (OLS) technique. The study revealed positive and significant impact on stock market development within the year covered. The government should therefore formulate some investor friendly policies that will attract more investment inflow into stock market.

Suggested Citation

  • Ebele Sabina Nsofor, 2016. "Impact of Investment on Stock Market Development in Nigeria," International Journal of Financial Economics, Research Academy of Social Sciences, vol. 5(1), pages 1-11.
    • Handle: RePEc:rss:jnljfe:v5i1p1
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    References listed on IDEAS

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    1. Hisham Handal Abdelbaki, 2013. "Causality Relationship between Macroeconomic Variables and Stock Market Development: Evidence from Bahrain," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 7(1), pages 69-84.
    2. Valeriano F. García & Lin Liu, 1999. "Macroeconomic Determinants of Stock Market Development," Journal of Applied Economics, Universidad del CEMA, vol. 2, pages 29-59, May.
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    Cited by:

    1. O. K. Adeleke, 2023. "FDI inflows and stock market development in Nigeria," Journal of Economic Policy and Management Issues, JEPMI, vol. 2(2), pages 19-30.
    2. Md. Qamruzzaman & Jianguo Wei, 2018. "Financial Innovation, Stock Market Development, and Economic Growth: An Application of ARDL Model," IJFS, MDPI, vol. 6(3), pages 1-30, August.

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