Authors : I.P. Onuoha, C.O. Ogbaekirigwe, R. Oko and P.N. Edeogu
Abstract: This study examines the functions and the expected role of the Nigerian stock exchange market liberalization in economic development and capital formation in Nigeria. It adopted a survey method of analysis to show the relationship between the operations of the stock exchange market and the level of capital formation in economic development in Nigeria. The objective of the study is to find out if the stock exchange market liberalization plays a significant role in capital formation and overall economic development of the various sectors of the economy. It is observed that while the stock exchange market in developed economies are vibrant agents of development, the contributions of stock exchange market in developing countries are described as being a little above border line. Conclusions were reached among other things that though the stock exchange market liberalization plays a very important role in the economic development of a nation the extent to which an exchange market will be able to play this role depends on the state of the economy. The study thus recommends an expansion in the stock exchange market role in the capital formation process through the liberalization process and the implementation of investment policies of the government, especially, those relating to foreign investments should be made.
I.P. Onuoha, C.O. Ogbaekirigwe, R. Oko and P.N. Edeogu, 2020. The Role of Stock Exchange Market Liberalization in Economic Development and Capital Formation in Nigeria. International Business Management, 14: 78-87.