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Stock market development and investment growth in Nigeria

Author

Listed:
  • Onisanwa Idowu Daniel

    (Economics and Development Studies, Humanities, Management and Social Sciences, Federal University, Kashere, Nigeria)

  • Adaji Mercy Ojochegbe

    (CEPMLP, University of Dundee, Scotland, UK)

Abstract

Aim/purpose – The poor investment climate is one of the reasons advanced for the slow pace of growth in Nigeria; evidenced by the absence or inadequate amount of investible funds in the productive sectors. While the money market in Nigeria provides very limited investment options, the underdevelopment and underutilisation of the Nigerian Stock Market constitute a drawback to the investment climate. However, any economy desiring sustainable development requires a long-term source of fund. Therefore, this study ascertains the performance of the stock market and investment growth nexus in Nigeria.

Suggested Citation

  • Onisanwa Idowu Daniel & Adaji Mercy Ojochegbe, 2020. "Stock market development and investment growth in Nigeria," Journal of Economics and Management, Sciendo, vol. 42(4), pages 99-117, December.
    • Handle: RePEc:vrs:jecman:v:42:y:2020:i:4:p:99-117:n:4
    DOI: 10.22367/jem.2020.42.05
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Auto-Regressive Distributed Lag; investment growth; Nigeria; Stock Market;
    All these keywords.

    JEL classification:

    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • G14 - Financial Economics - - General Financial Markets - - - Information and Market Efficiency; Event Studies; Insider Trading
    • O43 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Institutions and Growth

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