This study uses time series estimates in analyzing the Nigerian economy for 18 yearsud(1986 -2003). It is observed that there is a posttive relationship between real grossuddomestic investment and the real GDP This relationship is not only positive but alsoudstatistically significant at 5 per cent level. A positive and significant relationship alsoudexists between capital market activities (proxy by stock market capitalization) and theudreal gross domestic product. This implies there is a link between capital market andudeconomic growth. The paper therefore suggests that great effort is required to improveudupon the efficiency of the Nigerian capital market. This will culminate in speedyudeconomic growth thereby achieving Nigeria's target of becoming one of the twentyudleading economies in the world by the year 2020.
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