Abstract
This study was carried out to examine the effect of public sector expenditure on the development of the Nigerian capital market, through an empirical examination of the transmission of capital, recurrent and total public sector expenditure on market capitalization and value of transactions. Secondary data were extracted, tabulated and analysed using the ordinary least square of multiple regression technique. The study found that capital expenditure, recurrent expenditure and total government expenditure had significant relationship with market capitalization, and total value of transaction. The study recommended, among others, that government should take steps to strengthen the capital market and enhance public confidence in its operation so that beneficiaries of public sector spending can channel some of this into transactions in the capital market. The study suggested that government can use public sector expenditure as a tool to improve the performance of the capital market in Nigeria, by re-engineering public perception of the investment valence of the capital market
IBOR, BASSEY INA, EBA, AUGUSTINE OKPAJE, EMORI, ENYA GABRIEL. (2018) The Impact of Public Sector Expenditure on the Development of the Nigerian Capital Market, International Review of Management and Business Research, Volume 7, Issue 2.
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