IDEAS home Printed from https://ideas.repec.org/p/aer/wpaper/56.html
   My bibliography  Save this paper

Mobilizing domestic resources for economic development in Nigeria: The role of the capital market

Author

Listed:
  • Fidelis 0. Ogwumike
  • Davidson A. Omole

    (University of Ibadan)

Abstract

This study focuses on the role of the capital market in mobilizing domestic resources for economic development in Nigeria, with emphasis on the role of the Nigerian Stock Exchange (NSE). The objectives of the study are to identify the major problems confronting the stock market and to determine the impact of government policies on the operations of the Exchange. In addition to secondary data, the study used primary data derived from a survey of 251 companies, 192 of which were not listed on the Nigerian Stock Exchange. The results show that in spite of the growth witnessed during the period under study, the Nigerian stock market still lacks depth and breadth. The volume and value of transactions are still very low and financial instruments are few. Security pricing policy has constrained the rapid development of the NSE. Government policies need to provide market friendly incentives that can enhance the number of companies listed and the value and volume of transactions on the stock market.

Suggested Citation

  • Fidelis 0. Ogwumike & Davidson A. Omole, 1997. "Mobilizing domestic resources for economic development in Nigeria: The role of the capital market," Working Papers 56, African Economic Research Consortium, Research Department.
    • Handle: RePEc:aer:wpaper:56
    as

    Download full text from publisher

    File URL: ftp://41.215.20.26/RePEc/aer/wpaper/RP56.pdf
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Onyinye I. Anthony-Orji & Anthony Orji & Jonathan E. Ogbuabor, 2018. "Analysis of Stock Market Development, Foreign Private Investment and Economic Growth in Nigeria," Journal of Infrastructure Development, India Development Foundation, vol. 10(1-2), pages 1-17, June.

    More about this item

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:aer:wpaper:56. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joel Mathia (email available below). General contact details of provider: ftp://41.215.20.26/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.