Nexus Between Stock Market Performance and Manufacturing Growth in Nigeria

Awe Isaac Tope ()
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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

Journal of Economic and Social Development, 2022, vol. 09, issue 01, 01-12

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.

Keywords: Stock Market Performance; Manufacturing Growth; All-share Index; Equity; Industrial Loan (search for similar items in EconPapers)
JEL-codes: A11 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ris:joeasd:0057

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