Assessing the Extent of Development of the Nigerian Capital Market: A Comparative Analysis
Journal Title: International Journal of Financial Economics - Year 2014, Vol 2, Issue 2
Abstract
The paper examines the extent of development of the Nigerian capital market by analyzing key indicators of capital market development such as listing, market capitalization and turnover ratio, comparing them with those of other emerging markets of Malaysia, Indonesia, Korea Republic, Singapore, and South Africa. In all, the Nigerian capital market performs poorly relative to other emerging markets. The implication of this is that even though they are all listed as emerging markets, the Nigerian capital market is still lagging behind others in terms of development. Given the fact that a deeper, more liquid and more resilient capital market is desirable in view of the positive correlation between capital market and economic growth, the paper recommends the following options to accelerate the pace of development of the Nigerian capital market: increase in market size; improvement on market infrastructure and institutional arrangements, internationalization of the market and macro-economic stability.
Authors and Affiliations
Okey O. Ovat
Keywords
Related Articles
- EP ID EP27258
- DOI -
- Views 326
- Downloads 10
Ratio Analysis of Profitability of Its Activities in Sector Food and Beverage Listed In Indonesia Stock Exchange
This study aims to determine the financial ratios that affect the profitability of companies in the food and beverage sector are listed in Indonesia Stock Exchange. This test uses a linear regression of capital. The sa...
Monetary Approach for Determining Exchange Rates and Recent Monetary Policy of Japan
This article examines whether or not the monetary approach, or one of the main exchange rate determination theory models that consider economic fundamentals is suitable for determination of exchange rates for the Japan...
The Role of Oil Prices and Real Exchange Rate on the Output Growth in Nigeria
This study empirically examines the impact of oil price and exchange rate on Nigerian economy. Data spanning over the period of 1970 to 2012 was used and we applied the stationary tests, vector autoregressive model and...
Improving Sales Revenue through Advertising: The Nigerian Experience
The thrust of the paper was to find out the impact of advertising on sales revenue of Nigerian manufacturing companies and to find out how sales revenue of companies can be improved through the use of advertisement. Th...
Zimbabwean Government Initiatives for Widening Revenue Base: A Comparison of the Existing and Proposed Income Tax Act
The existing legislation is based on geographical boundaries within or outside Zimbabwe (source based). The proposed Income Tax Act Chapter23:13 intends to widen the tax base by adopting the residence based tax system....