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October 10, 2025Journal of Global Economics Management and Business ResearchOpen Access

Investigation of the Connection between Stock Market Development and Economic Growth in Nigeria (1999-2023)

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Authors

INIheanyichukwu Emmanuel NkwaJUJoachin Chetachi UchegbulamOAOluwatomisin Peter Ajayi

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Overview

Analysis shows market capitalization positively influences economic growth in Nigeria, suggesting policy measures for investor engagement.

Key Points

  • Significant positive relationship exists between stock market development and economic growth.
  • Market capitalization was positively correlated with economic growth, while transaction volume showed negative impact.
  • Analysis used pooled data from 1999 to 2023 to explore the dependence on economic indicators.
  • Findings highlight the necessity for policies to enhance savings and attract foreign investments.

Cite This Study

Nkwa et al. (2025) studied this question.

synapsesocial.com/papers/68e8ed7aa1d181ff1b94816ehttps://doi.org/10.56557/jgembr/2025/v17i39800
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