Local Investments in Nigeria: What Role for Capital Market Operations

Olure-Bank Aadeyinka Michael; Omodele Kilanko; Gbadebo Salako; Ajiteru Temilade

doi:doi:10.11648/j.jim.20150404.12

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Local Investments in Nigeria: What Role for Capital Market Operations

Olure-Bank Aadeyinka Michael, Omodele Kilanko, Gbadebo Salako, Ajiteru Temilade

Published in Journal of Investment and Management (Volume 4, Issue 4)

Received: 14 July 2015 Accepted: 24 July 2015 Published: 11 August 2015

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Abstract

There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.

Published in	Journal of Investment and Management (Volume 4, Issue 4)
DOI	10.11648/j.jim.20150404.12
Page(s)	100-112
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2015. Published by Science Publishing Group

Keywords

Stock Market, Stock Prices, Market Capitalisation, Economy, Nigerian Stock Exchange, Manufacturing, Economic Growth

References

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[3]	Olawoye (2011) Roles Of Capital Market On Economic Growth Of Nigeria
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[5]	Alile HI (2002). ‘’ Establishing a stock market – the Nigerian experience’’. Paper presented at the conference on promoting and development capital market in Africa. Abuja No 11-13.
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[8]	Beck, T. Demirguc-kunt and Levine (2004). ‘’Stock Market, Banks and Growth Correlation or Causality?’’, Policy research working paper. 2000 Washington DC; World Bank.
[9]	Ewang S.E, Esang AE, Bassey JU (2009),’’ Appraisals of Capital Market Efficiency on Economic Growth in Nigeria,’’ International journal of business and management, December. 219-225.
[10]	Demirguc-Kunt, A and Maksimovic, V (1998), ‘’ Stock Market Development and Financial Choices of firms’’, World Bank Economic Review, (10):341-36
[11]	Henry (2001),’’ Do stock market liberalisation cause Investment Booms’’, Journals of Financial economies, (58):301-334.
[12]	Irving, J. (2001),” Africa’s struggling Exchanges-Boost to economic Development of Costly Irrelevance”, Africa Recovery, Abidjan.
[13]	Kalu, I.K (2009),’’ Global Economic Meltdown’’ Issues that would reposition the Nigerian Capital market, http://allafrican.com/stones/2009/06290246.html
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[16]	Okereke Onyiuke Ndi (2008). ‘’A review of Market Performance in 2008 and outlook for 2009’’, the Nigerian stock Exchange. 2008 Edition.
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[18]	Soyode A. and Oyedeji (2006):”The role of Capital Market in Economic development”, Security market journal. 6
[19]	Sule and Momoh (2009),”The roles of Stock Market Earnings on Nigeria per capita Income”, African journal of Accounting, Economics, Finance and Banking Research. (5):77-88.
[20]	Victor Murinde (2009),”Global Financial crisis: Implications for Africa’s financial system”.
[21]	Adam, J. A. & Sanni, I. (2005). Stock Market Development and Nigeria’s Economic Growth. Journal of Economics and Allied Fields, 2 (2), 116-132.
[22]	Afees, A.S & Kazeem, B.A (2010). The Stock Market and Economic Growth in Nigeria: An Empirical Investigation, Journal of Economic Theory, 4,65 – 70.
[23]	Osaze B.E. (2009), ‘’Paradigm Shift Misplaced Concreteness and the Nigerian Financial System’. Inaugural lecture series.41. University of Benin. 40-41.

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APA Style

Olure-Bank Aadeyinka Michael, Omodele Kilanko, Gbadebo Salako, Ajiteru Temilade. (2015). Local Investments in Nigeria: What Role for Capital Market Operations. Journal of Investment and Management, 4(4), 100-112. https://doi.org/10.11648/j.jim.20150404.12

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ACS Style

Olure-Bank Aadeyinka Michael; Omodele Kilanko; Gbadebo Salako; Ajiteru Temilade. Local Investments in Nigeria: What Role for Capital Market Operations. J. Invest. Manag. 2015, 4(4), 100-112. doi: 10.11648/j.jim.20150404.12

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AMA Style

Olure-Bank Aadeyinka Michael, Omodele Kilanko, Gbadebo Salako, Ajiteru Temilade. Local Investments in Nigeria: What Role for Capital Market Operations. J Invest Manag. 2015;4(4):100-112. doi: 10.11648/j.jim.20150404.12

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@article{10.11648/j.jim.20150404.12,
  author = {Olure-Bank Aadeyinka Michael and Omodele Kilanko and Gbadebo Salako and Ajiteru Temilade},
  title = {Local Investments in Nigeria: What Role for Capital Market Operations},
  journal = {Journal of Investment and Management},
  volume = {4},
  number = {4},
  pages = {100-112},
  doi = {10.11648/j.jim.20150404.12},
  url = {https://doi.org/10.11648/j.jim.20150404.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jim.20150404.12},
  abstract = {There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.},
 year = {2015}
}

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TY  - JOUR
T1  - Local Investments in Nigeria: What Role for Capital Market Operations
AU  - Olure-Bank Aadeyinka Michael
AU  - Omodele Kilanko
AU  - Gbadebo Salako
AU  - Ajiteru Temilade
Y1  - 2015/08/11
PY  - 2015
N1  - https://doi.org/10.11648/j.jim.20150404.12
DO  - 10.11648/j.jim.20150404.12
T2  - Journal of Investment and Management
JF  - Journal of Investment and Management
JO  - Journal of Investment and Management
SP  - 100
EP  - 112
PB  - Science Publishing Group
SN  - 2328-7721
UR  - https://doi.org/10.11648/j.jim.20150404.12
AB  - There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.
VL  - 4
IS  - 4
ER  -

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Author Information

Olure-Bank Aadeyinka Michael

Department of Economics, Faculty of Social Sciences, Joseph Ayo Babalola University, Ikeji-Arakeki, Osun State, Nigeria
Omodele Kilanko

Department of Economics, Faculty of Social Sciences, Joseph Ayo Babalola University, Ikeji-Arakeki, Osun State, Nigeria
Gbadebo Salako

Department of Economics, Faculty of Arts and Social Sciences, Emmanuel Alayande College Education, Oyo, Oyo State, Nigeria
Ajiteru Temilade

Department of Economics, Faculty of Arts and Social Sciences, Emmanuel Alayande College Education, Oyo, Oyo State, Nigeria

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Plain Text BibTeX RIS

APA Style

Olure-Bank Aadeyinka Michael, Omodele Kilanko, Gbadebo Salako, Ajiteru Temilade. (2015). Local Investments in Nigeria: What Role for Capital Market Operations. Journal of Investment and Management, 4(4), 100-112. https://doi.org/10.11648/j.jim.20150404.12

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ACS Style

Olure-Bank Aadeyinka Michael; Omodele Kilanko; Gbadebo Salako; Ajiteru Temilade. Local Investments in Nigeria: What Role for Capital Market Operations. J. Invest. Manag. 2015, 4(4), 100-112. doi: 10.11648/j.jim.20150404.12

Copy | Download

AMA Style

Olure-Bank Aadeyinka Michael, Omodele Kilanko, Gbadebo Salako, Ajiteru Temilade. Local Investments in Nigeria: What Role for Capital Market Operations. J Invest Manag. 2015;4(4):100-112. doi: 10.11648/j.jim.20150404.12

Copy | Download

@article{10.11648/j.jim.20150404.12,
  author = {Olure-Bank Aadeyinka Michael and Omodele Kilanko and Gbadebo Salako and Ajiteru Temilade},
  title = {Local Investments in Nigeria: What Role for Capital Market Operations},
  journal = {Journal of Investment and Management},
  volume = {4},
  number = {4},
  pages = {100-112},
  doi = {10.11648/j.jim.20150404.12},
  url = {https://doi.org/10.11648/j.jim.20150404.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jim.20150404.12},
  abstract = {There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.},
 year = {2015}
}

Copy | Download

TY  - JOUR
T1  - Local Investments in Nigeria: What Role for Capital Market Operations
AU  - Olure-Bank Aadeyinka Michael
AU  - Omodele Kilanko
AU  - Gbadebo Salako
AU  - Ajiteru Temilade
Y1  - 2015/08/11
PY  - 2015
N1  - https://doi.org/10.11648/j.jim.20150404.12
DO  - 10.11648/j.jim.20150404.12
T2  - Journal of Investment and Management
JF  - Journal of Investment and Management
JO  - Journal of Investment and Management
SP  - 100
EP  - 112
PB  - Science Publishing Group
SN  - 2328-7721
UR  - https://doi.org/10.11648/j.jim.20150404.12
AB  - There have been the growing concerns and controversies on the role of the Stock markets on economic growth and development. There have been mixed results; while some are in support of a positive link, some negative link and others do not find any empirical evidence to support such conclusion. In this study. To explored the roles or effectiveness of capital market instruments on Nigerian economic growth. Two models were formulated and data for the period 2004-2014 were collated while the Error Correction and co-integration model were employed for analysis with result of long run equilibrium. This study examines the role of the Nigerian capital market operations on the development of the Nigeria local investment in the manufacturing sector, recommendations were made for active stock market to be developed in the country.
VL  - 4
IS  - 4
ER  -

Copy | Download