TABLE OF CONTENTS
Title Page…………………………………………………………… i
Declaration………………………………………………………… - ii
Certification…………………………………………………………. iii
Dedication…………………………………………………………… iv
Acknowledgement………………………………………………….. v
Abstract……………………………………………………………… vi
Table of Contents…………………………………………………….. vii
i
CHAPTER ONE: INTRODUCTION
1.1 Background to the study ……………………………………. 1
1.2 Statement of the problem …………………………………… 5
1.3 Research questions …………………………………………. 6
1.4 Objectives of the study………………………………………. 7
1.5 Hypotheses of the study……………………………………… 7
1.6 Significance of the study ……………………………………. 8
1.7 Scope of the Study…………………………………………… 9
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction …………………………………………………. 10
2.2 Concept of Capital Market Variables - ……………………… 10
2.3 Review of Literature in the Concept of Capital Market Variable … 15
2.4 Review of Empirical Studies on the Capital Market and Economic
Growth ………………………………………… - ………. 19
2.5 Review of Empirical Studies on the Capital Market and Gross Domestic
Product …………………………………………………. 30
2.6 Contribution of the Capital Market to Economic Growth of Nigeria… 36
2.7 Analysis of the Nigerian Capital Market’s Performance………….. 37
2.8 Theories of Economic Growth - . ………………………….…… 39
2.9 Theoretical Framework - ………………………………………… 41
2.10 Summary…………………………………………………………. 42
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction……………………………………………………… 44
3.2 Research design…………………………………………………. 44
3.3 Population and Sample Design………………………………… 44
3.4 Sources of Data Collection ……………………………………. 45
3.5 Technique of Data Analysis…………………………………… 45
3.6 Variable Measurement………………………………………… 46
3.7 Decision Criteria………………………………………………. 47
3.8 Robustness Test……………………………………………….. 47
3.9 Justification of Methods and Techniques…………………….. 48
3.10 Summary……………………………………………………… 48
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction………………………………………………….. 49
4.2 Basic Statistic……….……………………………………….. 51
4.3 Descriptive Statistic….………………………………………. 51
4.4 Correlation Matrix…….……………………………………… 53
4.5 Test of hypotheses……………………………………… - .. 54
4.6 Policy Implication of the Findings… - ……………………… 59
4.7 Summary of the Chapter…………………………………….. 61
CHAPTER FIVE: SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
5.1 Summary………………………………………………….. 63
5.2 Conclusion………………………………………………… 64
5.3 Recommendations………………………………………… 66
5.4 Limitation of the Study……………………………………. 67
5.5 Areas for further Study……………………………………… 68
Bibliography……………………………………………….. 69
Appendix…………………………………………………… 77
