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Local Investments in Nigeria: What Role for Capital Market Operations
Journal of Investment and Management
Volume 4, Issue 4, August 2015, Pages: 100-112
Received: Jul. 14, 2015; Accepted: Jul. 24, 2015; Published: Aug. 11, 2015
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Authors
Olure-Bank Aadeyinka Michael, Department of Economics, Faculty of Social Sciences, Joseph Ayo Babalola University, Ikeji-Arakeki, Osun State, Nigeria
Omodele Kilanko, Department of Economics, Faculty of Social Sciences, Joseph Ayo Babalola University, Ikeji-Arakeki, Osun State, Nigeria
Gbadebo Salako, Department of Economics, Faculty of Arts and Social Sciences, Emmanuel Alayande College Education, Oyo, Oyo State, Nigeria
Ajiteru Temilade, Department of Economics, Faculty of Arts and Social Sciences, Emmanuel Alayande College Education, Oyo, Oyo State, Nigeria
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Abstract
There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.
Keywords
Stock Market, Stock Prices, Market Capitalisation, Economy, Nigerian Stock Exchange, Manufacturing, Economic Growth
To cite this article
Olure-Bank Aadeyinka Michael, Omodele Kilanko, Gbadebo Salako, Ajiteru Temilade, Local Investments in Nigeria: What Role for Capital Market Operations, Journal of Investment and Management. Vol. 4, No. 4, 2015, pp. 100-112. doi: 10.11648/j.jim.20150404.12
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