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Stock Market and Economy of Nigeria - Research Paper Example
A strong financial sector in any economy is one basic asset that largely steer the economic growth of an economy. Many experts have re-confirmed this by setting and establishing the relationship. Financial sector will have to include a vibrant stock market which can attract foreign direct investment into the country can to a large extent steer an economy to greater heights…
Several effects of financial and stock market development on gross National product, Gross domestic development and Employment rate shall be used to establish the relationship.
Excluding South Africa, Nigeria has the largest economy in sub-Sahara Africa. In the last two decades ,there has been no progress made in alleviating poverty, expanding and enhancing economic development despite the massive effort made and the many programmes established for that purpose's growth pattern of the Nigerian economy has been quite sluggish over the last two decades. The level of poverty is further exuberated by the pandemic of inequality.
The economic performance has had a mixture as the macro-economy environment has witnessed positive and negative influences. Even though several programmes have been aimed at consolidating the arrangement for private sector -led economic growth and government demonstrated a commitment to implementing the privatization programme and improving major infrastructure, the realization of this goal could be met because of the disparity in monetary and fiscal policies.
There has been marked improvement in power supply and the privatization of the telecommunications sector among, stimulated economic activities. ...