Capital Market Indicators and Economic Growth in Nigeria; An Autoregrssive Distributed Lag (ARDL) Model

Idenyi, Odo Stephen; Ifeyinwa, Anoke Charity; Samuel, Onyeisi; Chibuzor, Chukwu Bishop

doi:10.9734/ajeba/2017/32549

Cited by 9 publications

(7 citation statements)

References 0 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Similar results were obtained by: (Idenyi, Ifeyinwa, Samuel and Chibuzor, 2017) (2017) for unemployment rate. In the second part of the table, where multifactor productivity was used as dependent variable, we can observe that the variables that have a significant and positive influence are capital mobility and stock market capitalization, turnover ratio and unemployment rate have, as in the first case, a bad influence.…”

Section: Resultssupporting

confidence: 88%

Capital Markets Integration and Economic Growth

Oprea¹,

Stoica²

2018

Montenegrin Journal of Economics

View full text Add to dashboard Cite

show abstract

Section: Resultssupporting

confidence: 88%

Capital Markets Integration and Economic Growth

Oprea¹,

Stoica²

2018

Montenegrin Journal of Economics

View full text Add to dashboard Cite

show abstract

“…Odo, Anoke, Onyeisi, and Chukwu [11] evaluated the link between Nigeria's capital market and economic advancement from 1986 to 2016. Granger causality test and autoregressive distributed lag (ARDL) approaches were utilised to estimate the model.…”

Section: Review Of Empirical Literaturementioning

confidence: 99%

Capital Market and Economic Growth in Nigeria

Eniekezimene,

Opuofoni

2024

AJEBA

View full text Add to dashboard Cite

In spite of its expected role of bridging the saving and investment gap for economic growth, the impact of the Nigerian capital market on the growth of the economy remains unclear. This study looked at the influence of the capital market on economic growth in Nigeria between 1981 and 2022, using vector autoregressive (VAR) analysis. The variables used included: real gross domestic product (RGDP), market capitalization (MCAP), total value of securities traded (TVST), and gross fixed capital formation (GFCF). The study concluded that while RGDP and MCAP influenced their own outcome as well as the outcome of other variables positively in both the short and long run, TVST and GFCF influenced their own outcome as well as the outcome of other variables negatively in both the short and long run, using the VAR system tools of impulse response function and forecast error variance decomposition. Based on the findings of this study, we recommended among others the urgent need to boost the perception of local firms listed in the Nigerian stock exchange both locally and internationally in terms of the total value of their corporate assets and performance measured by price-to-earnings, price-to-sales and return-on-equity metrics. This can be improved upon when these firms are able to increase the quality of their products and services thereby making them better competitors in the global space.

show abstract

“…The study carried out by the authors Odo et al examined the impact of capital market indicators on economic growth in Nigeria from 1986 -2016 (Idenyi et al, 2017). The study adopted autoregressive distributed lag frontier testing and VAR Granger causality estimation tools to test the variables in the model.…”

Section: Literature Reviewmentioning

confidence: 99%

The evolving financial landscape: analyzing uncertainty, risks, and growth in G7 economies of the 21st century

Gara,

Qehaja-Keka,

Hoti

et al. 2023

Multidiscip. Sci. J.

View full text Add to dashboard Cite

This study provides a comprehensive analysis of the financial markets in the 21'st century; focusing on the G7 countries: Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. The justification for this research originates from the significant role these markets plays in the global economy and the need to understand their complexities in relation to risk, uncertainty, and economic growth. The primary objective is to empiricaly investigate the dynamics and correlations of these aspects within the financial markets of the countries selected in this study. The study is based on secondary data spanning 12 years, from 2010 to 2021, covering all 7 countries, and making it a panel data analysis. Methodologically, the research employs various econometric models and techniques, including Ordinary Least Squares, OLS Robust, and fixed and random effects models. The empirical results suggest that the fixed effects model is the most suitable for this study, as confirmed by the Hausman test. According to this model, a 1% increase in stock market capitalization relative to GDP positively impacts GDP growth by 0.06. Furthermore, stock market value trades were found to have a positive correlation with economic growth. In contrast, stock price volatility and pension fund assets negatively impact economic growth. Notably, these findings diverge from some previous studies in the field. In conclusion, the research provides valuable insights into the relationship between financial markets and economic indicators in the G7 countries, thereby offering policy-makers a more nuanced understanding of how to foster economic growth while mitigating risks.

show abstract

Capital Market Indicators and Economic Growth in Nigeria; An Autoregrssive Distributed Lag (ARDL) Model

Cited by 9 publications

References 0 publications

Capital Markets Integration and Economic Growth

Capital Markets Integration and Economic Growth

Capital Market and Economic Growth in Nigeria

The evolving financial landscape: analyzing uncertainty, risks, and growth in G7 economies of the 21st century

Contact Info

Product

Resources

About