Adopting Strategic Management Approach in the Capital Market Development: The Nigerian Case

Abstract

This paper examines the roles and channels through which the capital market promotes economic development. The paper documents extensive evidence to show the adverse effects of the recent global financial crisis on the Nigerian capital market. Given the pivotal role of the capital market in economic development, the study advocates for the adoption of strategic management approach in ensuring capital market efficiency. These strategic management measure ranges from effective regulation to achieving favourable macroeconomic environment. These strategies will not only promote the efficiency of the capital market, but will leverage the role of the capital market in promoting economic growth.