 The Global Financial Crisis and the Performance of Capital Markets of Developing Economies: Lessons from NigeriaEdirin Jeroh ()
Acta Universitatis Danubius. OEconomica, 2013, issue 9(3), 70-83 Abstract: In recent times, economies worldwide are believed to be interrelated. This led to the interdependence of financial institutions such that developments in any part of the world, affects other parts as well. Thus, this study examines the extent to which the recent global financial crisis influenced the performance of capital markets in developing economies, with emphasis on the Nigerian Capital Market. The cointegration technique with its implied Error Correction Model was adopted. The results of the parsimonious ECM revealed amongst others that the recent global financial crisis does not have a severe negative impact on the performance of the Nigerian capital market. Based on the above, it was recommended amongst others that efforts must be made by the CBN and other regulatory bodies to ensure that reforms are made to reduce the over dependence on foreign borrowing by financial institutions in Nigeria as this will help to cushion the effect of credit crunch in advanced countries on the Nigerian economy. Keywords: Economic Meltdown; Stock Market; All Share Index; Credit Crunch; Market Capitalization (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:dug:actaec:y:2013:i:3:p:70-83 Access Statistics for this article More articles in Acta Universitatis Danubius. OEconomica from Danubius University of Galati Contact information at EDIRC. |
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