ABSTRACT
A major engine of economic growth and development of any nation is the stock market. It impacts positively on the economy by providing financial resources through its intermediation process for financing long term projects. These projects could be promoted by governments or private institutions. The analysis scope covered a period of twenty-five years spanning from 1986-2010. The econometric methodology adopted is the Ordinary Least square method (OLS). Using the independent variables of market capitalization, value of trade, inflation rate and exchange rate and the dependent variable of gross domestic product, this study analyzes the impact of the stock market on the Nigerian economy. In conclusion, the result shows that the stock market has a highly significant impact on the Nigerian economy. Hence, without an efficient stock market, the economy may be starved of the required long term funds for sustainable growth and development.
TABLE OF CONTENT
TITLE PAGE - - - - - - - - - - - - - - - - - - - - - - - - - i
APRROVAL PAGE - - - - - - - - - - - - - - - - - - - - - - ii
DEDICATION - - - - - - - - - - - - - - - - - - - - - - - - - iii
AKNOWLEDGEMENT - - - - - - - - - - - - - - - - - - - - iv
ABSTRACT v
TABLE OF CONTENT
TITLE PAGE - - - - - - - - - - - - - - - - - - - - - - - - - i
APRROVAL PAGE - - - - - - - - - - - - - - - - - - - - - - ii
DEDICATION - - - - - - - - - - - - - - - - - - - - - - - - - iii
AKNOWLEDGEMENT - - - - - - - - - - - - - - - - - - - - iv
ABSTRACT v
TABLE OF CONTENT vi
CHAPTER ONE
1.1 Background of the study
1.2 Statement of the problem
1.3 Objective of the study
1.4 Statement of hypothesis
1.5 Significance of the study
1.6 Scope and limitation of the study
1.1 Background of the study
1.2 Statement of the problem
1.3 Objective of the study
1.4 Statement of hypothesis
1.5 Significance of the study
1.6 Scope and limitation of the study
CHAPTER TWO
2.0 LITERATURE REVIEW
2.1 Theoretical literature
2.1.1 History of the Nigerian stock market
2.1.2 The Nigerian security and exchange commission
2.1.3 An overview of the Nigerian stock market
2.1.4 The impact of the stock market on the Nigerian economy
2.2 Empirical literature
2.3 Limitations of previous studies
2.0 LITERATURE REVIEW
2.1 Theoretical literature
2.1.1 History of the Nigerian stock market
2.1.2 The Nigerian security and exchange commission
2.1.3 An overview of the Nigerian stock market
2.1.4 The impact of the stock market on the Nigerian economy
2.2 Empirical literature
2.3 Limitations of previous studies
CHAPTER THREE
3.0 RESEARCH METHODOLOGY
3.1 Model Specifications
3.2 Technique for evaluation of results
3.3 Justification of the model
3.4 Sources of data for the study
3.0 RESEARCH METHODOLOGY
3.1 Model Specifications
3.2 Technique for evaluation of results
3.3 Justification of the model
3.4 Sources of data for the study
CHAPTER FOUR
4.0 RESULT PRESENTATION AND INTERPRETATION
4.1 Economic Apriori Criteria
4.2 Statistical Criteria (first order test)
4.2.1 Coefficient of multiple Determination (R2)
4.2.2 The Students T-Test
4.2.3 F Statistics
4.3 Econometric criteria
4.3.1 Test for Autocorrelation
4.3.2 Normal
4.3.3 Test for Heterocedasticity
4.3.4 Test for Multicollinearity
4.0 RESULT PRESENTATION AND INTERPRETATION
4.1 Economic Apriori Criteria
4.2 Statistical Criteria (first order test)
4.2.1 Coefficient of multiple Determination (R2)
4.2.2 The Students T-Test
4.2.3 F Statistics
4.3 Econometric criteria
4.3.1 Test for Autocorrelation
4.3.2 Normal
4.3.3 Test for Heterocedasticity
4.3.4 Test for Multicollinearity
CHAPTER FIVE
5.0 SUMMARY OF FINDINGS, POLICY RECOMMENDATIONS AND
CONCLUSION
5.1 Summary of findings
5.2 Policy recommendations
5.3 Conclusion
BIBLIOGRAPHY
5.0 SUMMARY OF FINDINGS, POLICY RECOMMENDATIONS AND
CONCLUSION
5.1 Summary of findings
5.2 Policy recommendations
5.3 Conclusion
BIBLIOGRAPHY