The Contributions of Capital Market to Economic Development in Nigeria

Virtually all aspects of human endeavor entail the use of money either self-generated or borrowed. In capital market, the stock in trade is money which could be raised through various instruments under well governed rules and regulations carefully administered and followed by different institutions or market operators. Economic development is a process by which a high degree of self reliant economic growth in a given society is sustained over a given time. It is associated with substantial reduction on poverty and unemployment levels, and income inequality. This paper examines the concept of capital market, the concept of economic growth and economic development, relationship between economic growth and development, factors that determines economic growth and development, framework of regulating the capital market, highlight of recent reforms in the capital market, the contributions of capital market to economic development in Nigeria.