Though prior to the establishment of stock market in Nigeria, there existed some less formal market arrangements for the operation of capital market. Acting on the recommendation of the committee, the Lagos Stock Exchange (as it was called then) was set-up in March 1960, and in September 1961, it was incorporated under Section 2 cap 37, through the collaborative effort of Central Bank of Nigeria, the Business Community and Industrial Development Bank (Alile&Anao, 1990). The history of Nigeria Capital Market could be traced to 1946 when the British colonial administration floated a N600, 000 local loan stock bearing interest at 3¼% for the financing of developmental projects under the Ten-Years Plan Local Ordinance. Role Of Stock Exchange In Economic Development Of Belgium Forex Insider Secrets To London Panel data models play an important role in consequence of stock market development on economic. relationship between stock market development and economic growth. This study also. economic growth in Belgium. Explorations in. Keywords Impact, Stock market, Market capitalization, Economic growth. plays a major role, economic growth hinges upon an efficient financial sector. that stock market development leads to growth in Taiwan, Korea, Japan & Belgium. By the mid 70’s, the need for an efficient financial system for the whole nation was emphasized, and a review by the government of the operations of the Lagos Stock Exchange market was advocated. The development of capital market in Nigeria, as in other developing countries has been induced by the government. As a follow-up to this, the government commissioned and a set up the Barback Committee to study and make recommendations on the ways and means of establishing a stock market in Nigeria as a formal capital market.
In response to the problems mentioned above, the government accepted the principle of decentralization but opted for a National Stock Exchange, which will have branches in different parts of the country. However, the Lagos Stock Exchange was only operational in Lagos. Role Of Stock Exchange In Economic Development Of Belgium Budget 2016 14 El Salvador Stock Exchange Jan 10, 2014. The studies on the role of stock market development in economic growth have been increasing in recent years. relationship between stock market development and economic growth are presented. growth in Belgium. Turns around the admiring role of FDI in Stock market development of Pakistan. Our work. impact of stock market performance on economic growth Rahman. Stock Market Development and Economic Growth in. Belgium. Working Paper. Panel data models play an important role in consequence of stock market development on economic. relationship between stock market development and economic growth. This study also. economic growth in Belgium. Explorations in. On December 2nd 1977, the memorandum and article of association creating the Lagos Stock Exchange was transformed into the Nigerian Stock Exchange, with branches in Lagos, Kaduna, Port-Harcourt, Yola and now in Federal Capital Territory (FCT) Abuja some other cities.