Globalization, capital market and economic development in Nigeria
Open Access
- 1 January 2015
- journal article
- Published by Virtus Interpress in Journal of Governance and Regulation
- Vol. 4 (1), 57-62
- https://doi.org/10.22495/jgr_v4_i4_p6
Abstract
This article examines the economic integration caused by globalization and effect of capital market in Nigeria context. It establishes the type of relationship and level of significance of globalization and capital market on the economic development. Globalization concept is framed as import plus export divided by growth ratio. The capital market was determined in terms of proxy (by GDP) by price index. The growth ratio assessed the level of development using econometric model. The results suggest that sound economic reform and financial policies are necessary to achieve sustainable development in Nigeria. However, there is need to increase exports, reduce imports and control exchange rate for Nigeria to achieve sustainable economic development.Keywords
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