THE ROLE OF THE STOCK MARKET IN THE GROWTH OF THE NIGERIAN ECONOMY
ABSTRACT
This study is motivated primarily by the need to enhance capital accumulation from the stock market, being the long term end of the financial system. The efficiency of the stock market is measured using a number of well- known empirical tests. The results indicate that the stock market indeed contributes to economic growth as all variables conformed to expectations with R2 as 0.96 and adjusted R2 as 0.956. There is also considerable scope for potential gain to the Nigerian investor who is willing to diversify across industries. Expansion and efficiency of the Nigerian Stock Market would also be realizable if the recommendations in this project are considered.       Â
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