Impact of capital market performance on economic growth in Nigeria: a systematic review

Abstract

A systematic review of Capital market research from 2012 to 2021 identifying relevant features and characteristics of these studies and thereby proffering suggestions for future research. The study used the Systematic Quantitative Assessment Technique (SQAT), a methodology for the identification and selection of high-quality peer-reviewed journal articles, all selected journal articles studied the impact of the capital market on economic growth. A total of 51 Journal articles; were used for the review. Analysis revealed that many of the studies were conducted in Nigeria, while some articles were from different continents, but were significantly empirical. The focus of many Capital market article themes was studying the Capital market and how it influences economic growth. A limitation was the use of high-quality academic database that could not provide enough articles for the review; hence, the use of Google Scholar open search for the selection of relevant articles. The study concluded that capital market performance influenced economic growth even though with disparity among different nations due to the difference in the level of development of capital markets across the globe. It was recommended that research on capital markets requires more attention due to the clear nexus between the capital market performance and economic growth.