ABSTRACT
In any model of economic development, capital occupies a position of crucial
and strategic importance. Economic development of any sort will not be
possible unless there is adequate degree of capital formation in the country.
However, a very important trait of underdeveloped economy is deficiency of
capital, which is due to small saving by communities.
Underdeveloped economics hardly saved 5% of the national income, whereas
they should save and invest at least 12% in order to secure a reasonable level of
development (Dewett, 2002).
The Capital market in any country is one of the major pillars of long-term
economic growth and development. The market serves a broad range of
clientele, including different levels of government, corporate bodies and
individuals within and outside the country. Capital formation entails
accumulated savings out of the current incomes of either organization or
individual. It is investment in fixed assets which in part is financed with monies
raised through the capital market (Al-Faki, 2006). The Capital market has been
one of the major means through which foreign funds are injected into most
economies and the teidericy towards a global economy is more visible there
than anywhere else. It is therefore, quite valid to state that the growth of the
capital market has become one of the barometers for measuring the overall
economic growth of a nation (Emenuga, 1998).
OKWARA, A (2021). Effect Of The Performance Of Nigeria Stock Exchange On Economic Development In Nigeria From 2005 To 2016. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/effect-of-the-performance-of-nigeria-stock-exchange-on-economic-development-in-nigeria-from-2005-to-2016-7-2
AMARACHI, OKWARA. "Effect Of The Performance Of Nigeria Stock Exchange On Economic Development In Nigeria From 2005 To 2016" Mouau.afribary.org. Mouau.afribary.org, 04 Jun. 2021, https://repository.mouau.edu.ng/work/view/effect-of-the-performance-of-nigeria-stock-exchange-on-economic-development-in-nigeria-from-2005-to-2016-7-2. Accessed 31 Oct. 2024.
AMARACHI, OKWARA. "Effect Of The Performance Of Nigeria Stock Exchange On Economic Development In Nigeria From 2005 To 2016". Mouau.afribary.org, Mouau.afribary.org, 04 Jun. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/effect-of-the-performance-of-nigeria-stock-exchange-on-economic-development-in-nigeria-from-2005-to-2016-7-2 >.
AMARACHI, OKWARA. "Effect Of The Performance Of Nigeria Stock Exchange On Economic Development In Nigeria From 2005 To 2016" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/effect-of-the-performance-of-nigeria-stock-exchange-on-economic-development-in-nigeria-from-2005-to-2016-7-2