Determinants of Capital Market Development in Kenya

This study sought to determine the determinants of capital market development in Kenya. The empirical was conducted using time series data for period 2001- 2020. adopted quantitative approach and employed secondary twenty years; Pearson correlation test used evaluate relationship between variables. Furthermore, this multiple regression analysis by applying Ordinary Least Square (OLS) method. macroeconomic variable involved were stock liquidity, investment, foreign direct investment. For indicators, capitalization, listed companies, value traded turnover ratio considered. results demonstrate that all variables, investment are important findings from indicated model is significant a whole three independents explain 91% changes dependent variable. recommends following policies among others; government should regulate control financial sector order promote development. Policy maker cut off restriction foreigner investors create strategies increase offer incentives.