- The Complete Research Material is averagely 50 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦6,000
Get the complete project »
ABSTRACT
This study was motivated by the growing concern on the impact of Institutional Quality on economic outcomes. The study focused specifically on the Nigerian Stock Market due to its critical role in the economy as a vehicle for efficient resource allocation. The Autoregressive Distributed Lag (ARDL) bounds testing procedure is employed using data from 1985 to 2012. The study used the ARDL model to ascertain the long-run impact of institutional quality on stock market development in Nigeria. The results from Empirical analysis of level of corruption, democratic accountability and bureaucratic quality exert significant impacts on stock market development as measured by market capitalisation ratio. Also, Banking sector development and stock market liquidity contribute significantly to stock market development. Moreover, a unidirectional causality runs from institutional quality to stock market development. The study therefore, recommends that the fight against corruption should be intensified while the market administrative and regulatory qualities should be enhanced for a sustainable stock market development in Nigeria.
Keywords: Institutional Quality, Stock market, development, Market capitalisation ratio, corruption, democratic accountability, bureaucratic quality.
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study:
The role of institutional quality in sustainable development has received tremendous attention in recent time and it has been a central issue in development policies of many nations to orchestrate an insurmountable institution because of its critical position in the development of financial system and stock market in particular. Institution plays a pivotal role in promoting the enactment of rules and regulations, for proper surveillance of political, social and economic activities globally. Furthermore, viable institutions support macroeconomic stability and promote social cohesion, thus accelerating market efficiency and business development. It has been inferred that countries with efficient working institutions advances strong legal framework for the promotion of efficient mobilization and allocation of funds, thereby creating less risky business environment. Consequently, the absence of adequate regulatory framework and supervision could erode the investors’ confidence which will undermine the performance of the stock market (Law and Azman-Saini, 2008).
The deepening and broadening of the stock market in Nigeria presents an important concern to the policy makers (Manasseh et.al, 2014). This has brought to bear many institutional reforms such as the establishment of the investment and securities tribunal (IST) for investors protection, central securities clearing system (CSCS) for transparency, and prologue of other new practices in the market like; the introduction of automated trading system (ATS), Desk for phone-in-service, trade alert introduced by CSCS, a day transaction clearance (T+1) as against T + 14, introduction of the capital trade point by investment securities Act (ISA), introduction of market makers, and the establishment of Real Estate Investment Schemes (Manasseh et. al, 2012). Even though the market is erratic in its performance over time, the introduction of these practices and the newly established policy incorporating small and medium business enterprises in the activities of the market have brought some remarkable improvement in the performance of Nigeria stock market.
You either get what you want or your money back. T&C Apply
You can find more project topics easily, just search
-
SIMILAR ECONOMICS FINAL YEAR PROJECT RESEARCH TOPICS
-
1. CORRUPTION CHALLENGES AND ECONOMIC GROWTH IN NIGERIA
» ABSTRACT This project work examines the issue of corruption and performance of public corporations in Nigeria, with Power Holding Company of Nigeria (...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
2. CONDITIONAL CASH TRANSFER PROGRAM AS A STRATEGY FOR POVERTY ALLEVIATION IN KANO STATE NIGERIA
» ABSTRACT The study analyses the effect of Conditional Cash Transfer (CCT) program on poverty alleviation in Kano state with specific focus on school e...Continue Reading »Item Type & Format: Project Material - Ms Word | 120 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
3. EFFECT OF VALUE ADDED TAX (VAT) IN THE ECONOMIC DEVELOPMENT OF NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY A tax is a compulsory levy imposed by the government on individual and business firm such levies ...Continue Reading »Item Type & Format: Project Material - Ms Word | 64 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
4. THE ROLE OF STOCK MARKET IN THE GROWTH OF THE NIGERIAN ECONOMY
» CHAPTER ONE 1.1 BACKGROUND TO THE STUDY Primarily, a stock market is the place where companies can raise money to make their businesses bigger and bet...Continue Reading »Item Type & Format: Project Material - Ms Word | 49 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
5. THE PROBLEM OF GOVERNMENT BUDGETING IMPLEMENTATION IN DEVELOPING COUNTRIES (A CASE STUDY OF NIGERIA) 1986-2006
» CHAPTER ONE INTRODUCTION: 1.0 BACKGROUND OF THE STUDY A Budget is commonly understood as the focus by a government of its expenditure and revenue for ...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
6. THE IMPACT OF PRIVATIZATION AND COMMERCIALIZATION OF PUBLIC ENTERPRISES ON ECONOMIC GROWTH OF NIGERIA
» ABSTRACT So much effort has been made towards understanding the relationship between privatization and commercialization and the economic growth of Ni...Continue Reading »Item Type & Format: Project Material - Ms Word | 78 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
7. EFFECTS OF GLOBALIZATION ON THE NIGERIA ECONOMY: PROSPECT FOR DEVELOPMENT AND UNDERDEVELOPMENT
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY The concept of globalization is global and dominant in the world today. It did not emerge spontan...Continue Reading »Item Type & Format: Project Material - Ms Word | 68 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
8. STOCK MARKET DEVELOPMENT INDICATORS AND ECONOMIC GROWTH IN NIGERIA
» CHAPTER ONE Introduction 1.1 Background of the study Stock markets may affect economic activity through the creation of liquidity. It contributes to e...Continue Reading »Item Type & Format: Project Material - Ms Word | 115 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
9. ANALYSIS OF THE CONTRIBUTION OF INSURANCE COMPANIES TO THE GROWTH OF SMEs: A CASE OF NATIONAL INSURANCE CORPORATION
» ABSTRACT The purpose of this study was to establish the relationship between the contributions of insurance companies and the growth of SMEs in NIC ba...Continue Reading »Item Type & Format: Project Material - Ms Word | 64 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
10. IMPACT OF STOCK MARKET PRICE ON ECONOMIC GROWTH IN NIGERIA
» CHAPTER ONE INTRODUCTION 1.1 Background to the Study Stock exchange Market is a financial market involving institutions that deal with securities with...Continue Reading »Item Type & Format: Project Material - Ms Word | 57 pages | Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT