EFFECT OF SELECTED MACROECONOMIC FACTORS ON STOCK MARKET CAPITALIZATION IN NIGERIA: A NON-LINEAR APPROACH
| dc.contributor.author | Ene, Josephine | |
| dc.contributor.author | Nwala, Maureen Nneka | |
| dc.contributor.author | Udenwa, Theresa A | |
| dc.date.accessioned | 2023-12-10T17:48:59Z | |
| dc.date.available | 2023-12-10T17:48:59Z | |
| dc.date.issued | 2021-03-15 | |
| dc.description.abstract | This paper investigated the interaction between selected macroeconomic factors (exchange rate, money supply and trade openness) and stock market capitalization using the non-linear autoregressive distributed lag (NARDL) model and the Error Correction Model (ECM) for the period 2000 to 2019. The secondary data used were extracted from CBN statistical bulletin 2019 and Nigeria bureau of statistics reports. The findings revealed that only exchange rate and money supply had a long-run effect on market capitalization. The findings also revealed that at 10% significance level all the factors asymmetrically affected market capitalization in Nigeria. It is recommended that the asymmetric relationship between macroeconomic factors and stock market capitalization should be taken into consideration while making investment or policy decisions in Nigeria. | en_US |
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| dc.identifier.uri | https://keffi.nsuk.edu.ng/handle/20.500.14448/955 | |
| dc.language.iso | en | en_US |
| dc.publisher | Department of Banking and Finance, Faculty Of Administration Nasarawa State University, Keffi. | en_US |
| dc.subject | Exchange rate, Money supply, Trade openness, Market capitalization, NARDL | en_US |
| dc.title | EFFECT OF SELECTED MACROECONOMIC FACTORS ON STOCK MARKET CAPITALIZATION IN NIGERIA: A NON-LINEAR APPROACH | en_US |
| dc.type | Article | en_US |