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APPRAISAL OF THE EFFECT OF SAVINGS ON STOCK MARKET DEVELOPMENT IN NIGERIA
Abstract
Mobilization of savings has been regarded as a veritable factor in stock market development and a crucial variable for development economists. The attainment of efficient developed stock market as a stimulus to economic growth in Nigeria may lack adequate viability without desired level of savings. The objective of this study was to empirically appraise the impact of savings on the Nigerian stock market development from 2001 to 2010. Data for the study were gathered from central bank of Nigeria statistical bulletin. From Ordinary Least Square (OLS) regression model, findings show that savings has significant and positive impact on stock market development in Nigeria.
Keywords: savings, stock market, development