Stock market development and economic growth in Nigerian (1980-2009)

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dc.contributor.authorYahaya, K. A.
dc.contributor.authorEtudaiye-Muhtar, O. F.
dc.contributor.authorAbdulraheem, A
dc.contributor.authorIsiaka, S. B
dc.date.accessioned2018-06-20T11:09:07Z
dc.date.available2018-06-20T11:09:07Z
dc.date.issued2013-01
dc.description.abstractThe stock market as a sub-set of financial system is an indicator of financial health of the economic system and its development has been found to have impacts on economic growth. This study investigates the nature of relationship between stock market development and economic growth in Nigeria using time series data from 1980 - 2009. The error correction mechanism is used in analyzing the relationship. Two measures of stock market development namely size and liquidity are employed for this study. Findings reveal that in the long-run, stock market development has a positive and significant relationship with economic growth while the short—run relationship is positive but inconclusive. Granger causality tests indicate a unidirectional causality from economic growth to the stock market. This implies that in the Nigerian context, it is growth in the economy that leads to development in the stock market. Based on these findings, recommendations are made for regulatory authorities to put in place, growth induced policies that will deepen and develop the stock market.en_US
dc.identifier.issn1597-3948
dc.identifier.urihttp://www.babcock.edu.ng/publications/Bulletin/BJMASS_2013.pdf
dc.identifier.urihttp://hdl.handle.net/123456789/623
dc.language.isoenen_US
dc.publisherBabcock Journal of Management and Social Sciences (BJMASS, the Faculty of Management and Social Sciences, Babcock University, Ilishan-Remo, Ogun Stateen_US
dc.relation.ispartofseries11;1
dc.subjectstock marketen_US
dc.subjectfinancial systemen_US
dc.subjecteconomic growthen_US
dc.subjectNigerianen_US
dc.titleStock market development and economic growth in Nigerian (1980-2009)en_US
dc.typeArticleen_US

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