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Nexus Between Stock Market Performance and Manufacturing Growth in Nigeria

Author

Listed:
  • Isaac Tope, Awe

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

Abstract

This study examined the 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 the stationarity test through Augmented Dickey-Fuller (ADF) and Phillip Peron (PP) affirmed the use of VAR. the study concluded that stock market performance has a significant influence on manufacturing growth. Hence, the government should make a concerted effort by making appropriate monetary policy that will promote stock market performance that will lead to capacity growth of the manufacturing sub-sector.

Suggested Citation

  • Isaac Tope, Awe, 2022. "Nexus Between Stock Market Performance and Manufacturing Growth in Nigeria," Journal of Economic and Social Development, Clinical Journals Press, vol. 9(01), pages 01-12, March.
    • Handle: RePEc:ris:joeasd:0057
    as

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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. Tope Isaac Awe, 2018. "Total Factor Productivity And Manufactured Export In Nigeria," Proceedings of International Academic Conferences 8110264, International Institute of Social and Economic Sciences.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Stock Market Performance; Manufacturing Growth; All-share Index; Equity; Industrial Loan;
    All these keywords.

    JEL classification:

    • A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists

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