POLITICS OF SECURITIES TRADING MARKET IN THE GROWTH OF NIGERIA’S ECONOMY
Onyebuchi Michael Eze
Ebonyi State University Abakaliki Ebonyi State, Nigeria
Nwaonuma Douglas Nnachi
Michael Ogbonna Agbafor
Chika Kingsley Ubaka
Matthew Kingsley Chukwuajah
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Keywords

Securities
Economic Growth
Trading
Economy

How to Cite

Eze, O., Nnachi, N., Agbafor, M., Ubaka, C., & Chukwuajah, M. (2024). POLITICS OF SECURITIES TRADING MARKET IN THE GROWTH OF NIGERIA’S ECONOMY. Nigerian Journal of Social Psychology, 7(2). Retrieved from https://nigerianjsp.com/index.php/NJSP/article/view/149
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Abstract

The broad objective of this research was to test the influence of securities trading market on economic growth of Nigeria from 1986 to 2020. The study utilized multiple regression analyses in which co-integration test and vector error correction model were the methods of analysis used in the study. Time series data sourced from the Central Bank of Nigeria statistical bulletin on gross domestic product, market capitalization, all-share index, and private domestic savings were analyzed in the research. The results reported that market capitalization had a significant and positive influence on gross domestic product, while all-share index had not significantly impacted gross domestic product (GDP) in Nigeria. The results further showed that private domestic savings had a positive link with GDP, though inconsequential. On the above notes, the study recommended for the re-formulation of appropriate economic policies that ensure stability of share prices in order to encourage both domestic and foreign investors’ participations in the securities trading market in Nigeria. In so doing, market capitalization would increase leading to improved growth in the domestic economy.

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