[01] Christain U. Amu, Department of Financial Management Technology, Federal University of Technology Owerri, Imo State, Nigeria. [02] N. C. Nwezeaku, Department of Financial Management Technology, Federal University of Technology Owerri, Imo State, Nigeria. [03] A. B. C. Akujuobi, Department of Financial Management Technology, Federal University of Technology Owerri, Imo State, Nigeria.

The capital market has been identified as institution that contributes to the economic growth and development of emerging and developed economies. It is a major driving force of economic growth and development of a nation. The main purpose of this paper is to evaluate the impact of growth in capital market on economic growth in Nigeria using regression analysis on annual data from 1981 to 2012. The results provide evidence to show that the capital market has significant positive impact on economic growth in Nigeria. The results also show, however, that growth in market capitalisation does not have significant impact on the economy in Nigeria. It is therefore recommended that capital market regulatory authorities should put in place polices that will enhance and sustain the market’s contribution to economic development.

Capital Market, Economic Growth, Regression Analysis, Nigeria

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