Abstract:

Study aims at finding out if the stock mart in Nigeria already advanced to the extent of being able to impact positively on the country’s economic evolution sustainably. Observed studies on the rapport that exists amid financial advance and economic development in emerging economies mostly underscore the importance of the banking sub-sector. Those studies ignore the strategic role of the stock mart in these countries relative to evolution of the economies. Few others that consider the influence of the bourse did using mart capitalization generally to proxy stock mart development.  The study becomes so imperative given the spate of globalization and foreign investments via the bourse. Moreover, this study concentrates on the impact of the stock exchange proxied by mart capitalization (debt). Johansen co-integration and Augumented-Dikey Fuller stationarity tests are used to assess the influence that the stock mart development in Nigeria has on sustainable evolution. It is done to see if mart capitalization, as a measure of mart development, could impact on sustainable evolution of the nation. Empirically, we find that the stock exchange in Nigeria enacts positive but no significant influence on sustainable increase of the economy.