THE ROLES, OPERATIONS AND STRUCTURE OF NIGERIAN CAPITAL MARKET AND ITS IMPACT ON THE GROWTH OF NIGERIAN ECONOMY

THE ROLES, OPERATIONS AND STRUCTURE OF NIGERIAN CAPITAL MARKET AND ITS IMPACT ON THE GROWTH OF NIGERIAN ECONOMY

ASTRACT

This study examines the roles, operations and structure of the Nigerian capital market. It also went ahead to examine the relationship between capital market development and economic growth. Time series data obtained from Central Bank of Nigeria (CBN) and Nigeria stock Exchange (NSE) were analyzed using simple regression model. The data set covers annual time series data from 1990-2005. Results showed that capital market development indicators like market size, liquidity and efficiency exert positive influence on Economic growth.