ABSTRACT
This research project was centered on the impact of global financial crisis on Nigeria capital market using Nigeria stock exchange (NSE) as a study. The over riding objectives were to examine the role of capital market in the global financial crisis and economic development. To determine the problem of Nigeria capital market in enhancing national economic growth. To ascertain if the confidence and interest of investors in the capital market, can be restored by high level of transparency in administration of depositors funds. In the introduction chapter, issues like historical background of Nigeria stock exchange, problems that face Nigeria capital market and how global crisis affects Nigeria and lots of them were highlighted . Primary and secondary methods of data collection were used in obtaining relevant information used in presentation of data, analysis of data was done using percentage analysis method chi-square regression was used in testing the relevant hypotheses and the result was interpreted. In the course of this research work, the researcher was able to find the problems and challenges as posed by the global financial crisis to Nigeria capital market. The financial crisis has caused to much harm to the capital market, there are lots of lingering problem such as issues bordering on unclaimed divided, delay in issuing of shares certificates after public offers, insincerity of market intermediary to the investors. Through the country was able to withstand the first round effect of the global crisis the effect of the next round were too much, leaving the country with considerable shock. Global financial crisis and economic downturn have impacted negatively on the economic environment in Nigeria However the Nigeria economy is at a critical junction, therefore overcoming the situation would depend on how effectively the government responds on the economic crisis.
The result showed that market capitalization positively and significantly impacts on gross domestic product (GDP). It was therefore recommended that the operators of Nigeria capital market should raise the level of awareness so that investors will be abreast with the happenings in the market for adequate capitalization.
TABLE OF CONTENTS
Title page i
Approval page ii
Dedication iii
Acknowledgment iv
Abstract vi
Table of content vii
CHAPTER ONE
1.1 Background of the study 1
1.2 Statement of the problem 4
1.3 Objectives of the study 4
1.4 Research question 5
1.5 Research hypotheses 5
1.6 Significance of the study 6
1.7 Scope of the study 8
1.8 Limitation of the study 8
1.9 Definition of terms 9
References 11
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 Historical overview of Nigeria stock exchange 12
2.1 The concept of financial crisis 15
2.2 The cause of the crisis 17
2.3 Overview of Nigerian capital market 20
2.4 The stock exchange and the capital market 22
2.5 The historical background of
Nigeria stock exchange (NSE) 25
2.6 The Role of Capital Market in Economic Development 28
2.7 Performance of the Nigerian capital
market since 2004-2010 28
2.8 Evidences of effect of global financial
crisis on development project in Nigeria 34
2.8.1 Problems of Nigerian capital market 36
2.8.2 Global financial crisis emerging
challenges for capital market 39
2.8.3 How global crisis affects Nigerian economy 41
2.9.4 The impact of global financial crisis in
economic development of developing countries 45
2.10 Solutions and likely remedies to global financial
meltdown 48
References 50
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY 52
3.1 Research Design 52
3.2 Sources and Method of Date Collection 52
3.3 Population of the Study 55
3.4 Sample size Determination 55
3.5 Instrument used for data collection 57
3.6 Validity of data collection Instrument 57
3.7 Reliability of Data Collection instrument 57
3.8 Method of Data Analysis 58
References 62
CHAPTER FOUR
Presentation and analysis of data 62
4.1 Questionnaire analysis 62
4.2 Presentation of data 62
4.3 Analysis of data 64
4.4 Test of hypotheses 68
4.5 Summary of Result 72
CHAPTER FIVE
Summary of findings, Conclusion and Recommendation
5.1 Findings 74
5.2 Conclusion 77
5.3 Recommendation 78
Bibliography 80
Appendix 82
Questionnaire 83
