THE IMPACT OF STOCK MARKET PERFORMANCE ON THE GROWTH OF NIGERIAN ECONOMY
This study is motivated primarily by the need to enhance capital accumulation from the stock market, being the long term end of the financial system. This study is an investigation of the impact of Nigeria stock exchange performance on the economic growth of Nigeria. To accomplish these objectives, an econometric methodology was adopted as a tool for testing the stated hypothesis. The ordinary least square was chosen as the estimation tool because of the advantages it has over other estimation technique considering the phenomenon under study.
The result of the student – t test revealed that the coefficient for market capitalization, investment rate and real exchange rate are all statistical significant at 5 percent level of significance. But the coefficient of real interest rate were not statistically significant at 5 percent level of significance The R2 which is the coefficient of multiple determination also revealed that 99 percent of the variation in the dependent variable is caused by the variation in the explanatory variables. The F test result suggested that the model is statistically significant.
Expansion and efficiency of the Nigerian Stock Market would also be realizable if the recommendations in this project are considered This study recommends that the financial sector should be fully liberalized for efficient functioning of the financial system, the activities of the Nigerian Stock Exchange should be made more transparent as this will bring bout confidence in the mind of investors and people will be encouraged to invest, and the Government should encourage Nigerians to take advantage of the Stock Market and save for investment growth and capital formation in Nigeria.
TABLE OF CONTENT
Table of Content
3.1 Method of Evata required and63
PRESENTATION AND ANALYSIS OF RESULT
4.2 Co integration test
4.3 Prepretation of regrestical criteria
MARY, CONCLUSION AN5.2 Conclusion
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