Stock Market Development: Its Impact on the Economic Growth in Nigeria

Stock Market Development: Its Impact on the Economic Growth in Nigeria

In examining the relationship between stock market development and economic growth, it is important that we throw light on some key concepts that will enhance a better understanding of the study.  These are the concept of stock market and the concept of economic growth and development.
The Stock Market
The Collins Dictionary of Economics (2005) defines a stock market as a market that deals in the buying and selling of company stocks and shares and government bonds.  Similarly, according to the Wikipedia free encyclopedia, a stock market is a mutual organization which provides trading facilities for stock brokers and traders, to trade stocks and other securities.  Additionally, Armstrong (1977) describes the stock exchange as “a market wherein to buy and sell the world’s capitalized values”.  According to him, “it is the citadel of capital, the temple of values, the axle on which the whole financial structure of the capitalist system revolves.”  The purpose and duty of a stock exchange is to organize security trading so that process may be found in the best possible condition (Urban, 1990). [Read more…]

Effective Administration of Credit in Co-Operative Enterprise

Effective Administration of Credit in Co-Operative Enterprise

Co-operative has been given a number of definitions But the definition, which is not in use, is that adopted by the international alliance (I.C.A.) as quoted in the review of international co-operatives (R.I.C). a co-operative is an autonomous association of persons united voluntarily to meet there common economic, social needs and cultural through a jointly owned and democratically controlled enterprise. This description of a co-operative is intended as a minimal statement. It is not intended ad divination of a perfect co-operative. [Read more…]

Poverty Alleviation in Nigeria

Poverty Alleviation in Nigeria

Poverty Alleviation in Nigeria – Although poverty is a worldwide phenomenon, it has been observed that Nigeria is one of the poorest countries in the world despite its abundant natural resources. Nigeria is the 20th poorest in the world; the poverty level in Nigeria has reached an alarming stage where 70% of its population lives below the poverty line. The federal office of statistics (FOS) report for the period 1980 – 1996, indicates that about 67 million Nigerians are living below the poverty level. The report also indicates that during 1980 – 1985, the percent of rural dwellers and urban inhabitants in the core poverty bracket respectively. In that same period, the percentage of moderately poor in the rural areas rose from 21.8 to 36.6 percent and 14.2 to 30.3 percent respectively. [Read more…]

The Importance of Studying Co-Operative Laws and Rules

The Importance of Studying Co-Operative Laws and Rules

Co-operative laws are those legislative enactment aimed at regulating and directing the activities of Co-operative Societies.  It guides the ruling, formation of co-operative enterprises, so that it enables their activities to be stable, effective and efficient for the successful operation of a given co-operative society. [Read more…]

Development of Co-Operatives in Nigeria

Development of Co-Operatives in Nigeria

Ever before the coming of the white men to Nigeria, the Nigerian has been practicing co-operative in various forms and in the various aspect of their lives.  In Igbo land for instance, communities co-operated to put up buildings for their members through communal efforts.  Tillage, planting and harvesting of crops were also undertaken communally.  They existed a system of credit co-operation known as “ISUSU” by which members of a community banned themselves into a union for the purpose of raising fund for their members. [Read more…]

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