A country must invest to build up productive capacity for growth to occur. It is this capacity that determines the level of output of goods and services in the economy. If investment which represents the net increase in an economy’s’ capital stock, leads to growth then there is relationship between capital accumulation and economic growth when sustain growth has occurred. It is expected that over time with appropriate policies that allow for more equitable distribution of income among a progressive larger percentage of the population, economic development would follow.
Hence, the fact that capital is needed for economic growth is not disputable.
1.1 BACKGROUND OF THE STUDY
In the early 1980’s the analyst frame work on which standard structural adjustment programmes of the world bank and IMF was drawn, placed tremendous resources in self sustained growth process. So every country needs capital to grow. The possession of relatively small stocks of various kinds of capital is a characteristic of under developed were as the condition of being developed means having accumulated established, efficient social and economic mechanism for maintaining and increasing large stocks of capital per head in various forms.
Therefore for under developed economy, a country’s capital stock will only contribute to the economic growth. If its investments are productive in this respect, the domestic economy must provide the right policy environment incentives and stability that can sustain and encourage the required flow of savings from the surplus spending units and then into long-term investment that will enhance productive capacity. The capital market contributes to the mobilization of savings by providing a variety of market instrument for the holding of financial assets in the economy. While improving opportunities for business to obtain equities and long term loans, which encourage long term productive investments.
Savings and investments are carried out by two distinct groups of people, thus the need for some form of medication, various types of financial institution the stock exchange, issuing houses, stock brokers, share registrars share distribution agents (commercial banks) institutions investors (merchant banks) Nigeria enterprises promotion board, (NEPB) Nigeria security and exchange
OTHER SIMILAR BANKING FINANCE PROJECTS AND MATERIALS
A CRITICAL ANALYSIS ON THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)
ABSTRACT This project work is carried out to examine the contribution of micro finance banks to the development of Small and medium scale enterprises in Nigeria. The Brass micro finance bank is used a...Continue reading »
A STUDY ON THE ACCEPTANCE AND ADOPTION OF THE CBN CASHLES POLICY IN PORT HARCOURT, NIGERIA
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND TO THE STUDY One of the prerequisites for the development of national economy according to Ajayi et al, 2006 is by encouraging a payment system that is secu...Continue reading »
A STUDY ON THE IMPACT OF BUDGETARY CONTROLS ON THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIDELITY BANK PLC)
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY AND PROFILE OF THE ORGANIZATION Following the uncertainties prevailing in the Nigerian business environment today, managers and stakeholders mu...Continue reading »
ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC
CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY In any evaluation of the condition necessary for the growth and survival of an organization, the role of performance appraisal is a strategic f...Continue reading »
AUDIT INDEPENDENCE: ENHANCING ACCOUNTABILITY AND TRANSPARENCY IN CORPORATE ORGANIZATIONS
CHAPTER ONE INTRODUCTION 1.1. Background of the study The subject of transparency and accountability in modern day corporate organizations has continued to receive attention as never before. It has b...Continue reading »
CREDIT MANAGEMENT AND ISSUES OF BAD DEBTS IN COMMERCIAL BANKS IN NIGERIA
The article on this topic (credit management and issues of bad debts in commercial banks in Nigeria) is an extract from literature review of the project material. The complete project work would be ma...Continue reading »
What are looking for today?
THE EFFECT OF TREASURY SINGLE ACCOUNT ON THE ECONOMY OF NIGERIA
32,241 people found this useful
TAX ADMINISTRATION IN NIGERIA: CHALLENGES AND PROSPECTS, A CASE STUDY OF LAGOS STATE BOARD OF INTERN...
21,062 people found this useful
THE IMPACT OF HUMAN RESOURCE PLANNING ON ORGANIZATIONAL PERFORMANCE
18,524 people found this useful
THE EFFECT OF SOCIAL MEDIA ON STUDENTS PERFORMANCE IN LEARNING LISTENING COMPREHENSION
17,397 people found this useful
PARTY SYSTEM AND NIGERIA POLITICAL DEVELOPMENT
17,151 people found this useful
FACTORS AFFECTING LANGUAGE CHOICE IN A MULTILINGUAL SOCIETY
17,065 people found this useful