An Analysis of the Effects of Informal Capital Market on the Nigerian Economic Growth
Oladotun Larry Anifowose*
Department of Entrepreneurship Management Technology, The Federal University of Technology, Akure, Ondo state, Nigeria
- Corresponding Author:
- Oladotun Larry Anifowose
Department of Entrepreneurship Management Technology
The Federal University of Technology
Akure, Ondo state, Nigeria
Tel: +2348025845959, +2348171879003
E-mail: [email protected]
Received December 28, 2016; Accepted February 09, 2016; Published February 15, 2016
Citation: Anifowose OL (2016) An Analysis of the Effects of Informal Capital Market on the Nigerian Economic Growth. Arabian J Bus Manag Review 6: 210. doi:10.4172/2223-5833.1000210
Copyright: © 2016 Anifowose OL. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
The need for the development of capital markets-whether formal or informal can be overstressed. That they operate separate the functions of savings from investment is very important, facilitating the continuous process of arranging asset portfolio for savers also helps in the process of economic development. The structural imbalance in Nigeria’s financial system has led to the strong emergence of informal capital markets. In the present set-up, it has been realized that the economy can hardly progress satisfactorily without them. In conclusion, the markets are being faced with barrage of problems, it is hoped that if these problems are effectively tackled the informal markets might be able to perform a more pronounced role in the economic development drive in Nigeria.