Stock market capitalization and pension fund assets' perspectives of financial deepening in Nigeria (1981-2016)

UDEH, Sergius Nwannebuike and Igwebuike, Evangeline Chidimma (2019) Stock market capitalization and pension fund assets' perspectives of financial deepening in Nigeria (1981-2016). International Journal of Business Systems and Economics, 12 (3). pp. 1-15. ISSN 2360-9923

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Abstract

Stock market capitalization and pension fund assets’ perspectives of financial deepening appeared neglected in current researches. Hence, this study examined these seemingly neglected areas. Secondary data were collected from Central Bank of Nigeria Statistical Bulletin, 2017and the Global Financial Development Bulletin, 2017 from 1981 to 2016. Ex-post facto research design was employed. Data were analyzed with Ordinary Least Square statistical technique. The results showed that stock market capitalization to GDP had positive but no significant effect while pension fund assets to GDP had positive significant effect on economic growth in Nigeria. Based on the results of the study, it was concluded that pension fund assets to GDP had positive significant effect while stock-market capitalization to GDP had positive but no significant effect on economic growth in Nigeria. It was recommended, among others, that the Pension commission alongside other operators in the pension industry should work towards involving the informal sector in the Contributory Pension Scheme as this will reduce their exclusion from the financial system thereby extending the reach of the financial sector to the wider economy. Key words: Stock market capitalization, pension fund assets, financial deepening, Nigeria, economic growth

Item Type:	Article
Divisions:	Faculty of Management and Social Sciences
Depositing User:	Mr Sergius Udeh
Date Deposited:	14 Jun 2019 10:18
Last Modified:	14 Jun 2019 10:18
URI:	http://eprints.gouni.edu.ng/id/eprint/1637

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