RELATIVE CONTRIBUTIONS OF THE NIGERIAN CAPITAL MARKET TO THE GROWTH OF EXTERNAL RESERVES (2005-2014)

Akaninyene Udo Akpan; Ezenduka Victoria Ginika

Makale detayları

RELATIVE CONTRIBUTIONS OF THE NIGERIAN CAPITAL MARKET TO THE GROWTH OF EXTERNAL RESERVES (2005-2014)

Yazarlar:

Akaninyene Udo Akpan | Ezenduka Victoria Ginika

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2015 Vol.7 Issue 1, pp.57-83

Belge Tipi:

Makale

Yayın Tarihi:

5/2015

Belge Dili:

Türkçe

Document ID (Org No.):

2000810944

Sıklık:

İki Yıllık

eISSN:

1309-8055

Özet:

 

Virtually all aspects of human endeavour 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
 .External reserves constitute an integral part of the wealth of the nation such that
 the lack of it brings worry to most nations and can limit the ability of the country
 to make foreign currency denominated payments and limits its spending abroad.
 Hence, countries are induced to hold reserves to allow monetary authorities to
 intervene in markets to control the exchange rate and inflation. Adequate reserves
 also allow the country to borrow from abroad and to hedge against instability and
 uncertainty of external capital flows. Therefore, the objective of this paper is to
 access the relative contribution of the Nigerian capital market if any to the growth
 of her external reserve. The methodology used is purely descriptive and narrative 
 and the data used is secondary. The evidence provided in the study based on the
 statistical analysis, revealed that the Nigerian capital market can induce the
 growth of external reserve but it has not contributed to the growth of external
 reserve in Nigeria. Furthermore, the study recommended among others the need
 for availability of more investment instruments such as derivatives, futures,
 swaps, options in the market and the expansion of the Nigerian capital Market by
 the government creating an enabling investable environment that will increase
 both the volume of transactions and number of securities traded in the market.
 This will improve their ability to mobilize resources and efficiently allocate them
 to the most productive sectors of the economy hence, contributing its portion to
 the growth of her external reserve.

Makale detayları

RELATIVE CONTRIBUTIONS OF THE NIGERIAN CAPITAL MARKET TO THE GROWTH OF EXTERNAL RESERVES (2005-2014)

Yazarlar: Akaninyene Udo Akpan | Ezenduka Victoria Ginika

Yayıncı: Sosyal Bilimler Araştırmaları Derneği

Dergi: International Journal of Economics and Finance Studies 2015 Vol.7 Issue 1, pp.57-83

Belge Tipi: Makale

Yayın Tarihi: 5/2015

Belge Dili: Türkçe

Document ID (Org No.): 2000810944

Sıklık: İki Yıllık

eISSN: 1309-8055

Sayı

Yazarlar:

Akaninyene Udo Akpan | Ezenduka Victoria Ginika

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2015 Vol.7 Issue 1, pp.57-83

Belge Tipi:

Makale

Yayın Tarihi:

5/2015

Belge Dili:

Türkçe

Document ID (Org No.):

2000810944

Sıklık:

İki Yıllık

eISSN:

1309-8055