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Stock Market Performance and Manufacturing Growth in Nigeria

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  • Awe, Isaac Tope

    (Department of Economics, School of Social and Management Science, Bamidele Olumilua University of Education, Science and Technology, Ikere – Ekiti, Nigeria)

Abstract

This study examined nexus between stock market performance and manufacturing growth in Nigeria using data spanning between 1985 and 2020. Vector Autoregression (VAR) model was employed to examine the complex interaction between the variables. The result of stationarity test through Augmented Dickey-Fuller (ADF) and Phillip Peron (PP) affirmed the use of VAR. the study concluded that stock market performance has significant influence on manufacturing growth. Hence, government should make concerted effort by making appropriate monetary policy that will promote stock market performance that will leads to capacity growth of manufacturing sub-sector.

Suggested Citation

  • Awe, Isaac Tope, 2022. "Stock Market Performance and Manufacturing Growth in Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 6(3), pages 684-691, March.
    • Handle: RePEc:bcp:journl:v:6:y:2022:i:3:p:684-691
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    References listed on IDEAS

    as
    1. M. Hashem Pesaran & Yongcheol Shin & Richard J. Smith, 2001. "Bounds testing approaches to the analysis of level relationships," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 16(3), pages 289-326.
    2. Sanya Ogunsakin & Isaac Tope Awe, 2020. "Macroeconomic Determinants of Stock Market Performance in Nigeria," Business and Economic Research, Macrothink Institute, vol. 10(4), pages 139-158, December.
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