Analysis Of Nigerian Capital Market And National Economic Growth

ABSTRACT

A capital market is not a single entity but a network of specialized institutions that in various ways bring together suppliers and users of long term end of the financial market. It is made up of institutions and market which functions basically to provide short-term funds, the capital market provides funds to industries and government to meet their long term capital requirement. Hence, the capital market plays a very vital role in stimulating industries as well as economic development (Onyike, 2001). In the absence of capital market, industrial development would be hampered, as the money market is not designed to provide such funds. The availability of a secondary market (stock exchange in particularly) is an important aspect of the capital market, as investors are much more disposed to placing funds in primary market.