THE CONTRIBUTION OF EQUITY MARKETS TO TI-IE ECONOMIC GROWTH OF SOMALIA A CASE STUDY OF I3OSASO STOCK ~V1ARKET EXCHANGE, PUNTLANI) STATE

TABLE OF CONTENTS

DECLARATION ii

APPROVAL Ii

DEDICATION iv

ACKNOWLEDGEMENT

TABLE OF CONTENTS 1

LISTOFTABLES 4

ABSTRACT 5

CHAPTER ONE 6

GENERAL INTRODUCTION 6

1.0 Introduction 6

1.1 Background of the Study 6

I .2 Statement of the problem 8

I .3 Purpose of the study 8

I -I ObjeciR Cs ol he study 9

1.4.1 Specific Objectives 9

1.5 Research Questions 9

I .6 Scope of the Study 9

I .6. I Geographical Scope 9

I .6.2 Comeiii Scope 9

I .6.3 Time Scope 9

1.7 Significance of the Study 10

1 .8 Conceptual Framework showing independent and dependent variables 11

CHAPTER TWO 13

LITERATURE REVIEW

2.0 Inhioduction 13

2.1 he various equity markets that affect economic growth in Somalia 13

2.2 Challenges faced by equity markets in Somalia 14

2.3 Impact of equity markets on economic growth of Somalia 15

CHAPTER THREE 18

RESEARCH METHODOLOGY 18

3.0. Introduction 18

3.1. Research Design 18

1

3.2 Study Population .18

3.3 Sample Size .19

3.4 Sample Procedure 19

3.5 Sources of Data 20

3.5.! Primary Data 20

3.5.2 Secondary Data 20

3.6 Research Instruments 20

3.6.! Interviews 20

3.6.2 Questionnaires 20

3.7 Data Processing 21

3.8 Data Analysis 21

3.9 Ethical Consideration 21

CHAPTER FOUR 22

PRESENTATIONS, INTEPRETATIONS AND ANALYSIS OF DATA 22

4.0 Introduction 22

4.! Demographic characteristics of respondents 22

4.! . I Gender of Respondents 22

4. I .2 Age of the respondents 23

4.1.3 Marital Status of the Respondents 24

4.1.4 Education Levels of the Respondents 25

4.2 FINDINGS ON THE VARIOUS EQUITY MARKETS THAT AFFECT ECONOMIC GROWTH

26

4.3 FINDINGS ON CI-IALLENGES FACED BY EQUITY MARKETS 28

4.4 FINDINGS ON IMPACT OF EQUITY MARKETS ON ECONOMIC GROWTH 30

CI-IAPTER FIVE 34

SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS 34

5.0 Introduction 34

5. I Summar’~ of the Findin~s 34

5. I fhc various equity markets that affect economic growth in Somalia 34

5. I .2 Challenges faced by equity markets in Somalia 35

5.1.3 Impact of equity markets on economic growth of Somalia 35

5.2 Conclusion of the Findings 36

5.3 Recommendations 37

5.4 [.i mitations of the study 38

2

5.5 Recommendations for future researcher .38

REFERECES 40

APPENDICES 42

APPENDIX I: QUESTIONNAIRE 42

APPENDIX II

INTERVIEWGUIDE 45

APPENDIX 13: TIME FRAME 46

APPENDIX C: STUDY BUDGET 47

3