global-journal-of-human-social-science-e-economics Global Journal of Human-Social Science - E: Economics 0975-587X 2249-460X Global Journals Publishing Group Incorporated 63018 Capital Market Predictive Power on the Development of the Nigerian Economy: An Impulse Response and Variance Decomposition Approach EmmanuelUche Ihezukwu, V. A NIGERIA, Abia State University, Uturu, Nigeria 15 01 2019 19 E9 1 11

The study investigates the contributions of Nigeria’s capital market to the development of Nigeria economy. Most researchers focused on the capital market and growth nexus, while we deviated by focusing on the role played by the capital market in ensuring the reduction of unemployment and poverty in Nigeria. Specifically, we investigated the contributions of market capitalization (MCAP), the value of share traded (VST), and all share index (ASI) to the unemployment rate (UNPR) and poverty (NPI) reductions in Nigeria within the period 1981 to 2017. The data series used was obtained from the annual statistical bulletin of the central bank of Nigeria (CBN) and Nigeria stock exchange (NSE). Preliminary analyses of stationarity and cointegration tests revealed that the series was non stationary at levels, and cointegrated, respectively.

 capital market sustainable development impulse response function variancede composition. Full Text

The study investigates the contributions of Nigeria’s capital market to the development of Nigeria economy. Most researchers focused on the capital market and growth nexus, while we deviated by focusing on the role played by the capital market in ensuring the reduction of unemployment and poverty in Nigeria. Specifically, we investigated the contributions of market capitalization (MCAP), the value of share traded (VST), and all share index (ASI) to the unemployment rate (UNPR) and poverty (NPI) reductions in Nigeria within the period 1981 to 2017. The data series used was obtained from the annual statistical bulletin of the central bank of Nigeria (CBN) and Nigeria stock exchange (NSE). Preliminary analyses of stationarity and cointegration tests revealed that the series was non stationary at levels, and cointegrated, respectively.