 FDI inflows and stock market development in NigeriaO. K. Adeleke ()
Journal of Economic Policy and Management Issues, 2023, vol. 2, issue 2, 19-30 Abstract: This paper investigated the impact of FDI on stock market performance in Nigeria during the period from 1981 to 2021 using the Auto Regressive Distributed Lag (ARDL) technique. The findings suggest that FDI has a positive and significant effect on stock market both in the short run and in the long run. External debt was negative and significant in the short run but became positive and significant with the stock market in the long run. Interest rate had a negative and significant effect on stock market performance in the short run but had a positive and nonsignificant effect on stock market performance in the long run. Inflation was seen to be positive but not significant both in the short and long run. Consequently, this study recommends the following: the drive for inflow of FDI into Nigeria should be intensified in order to further improve stock market performance; the government should employ well-structured external debt policies and channel funds to the stock market in order to promote stock market performance. Keywords: Stock market; FDI; External debt; Capital inflows; ARDL (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:beg:journl:v:2:y:2023:i:2:p:19-30 Access Statistics for this article More articles in Journal of Economic Policy and Management Issues from JEPMI |
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