APPLICATION OF DYNAMIC REGRESSION (DR) TO MODELING OF THE GROSS DOMESTIC PRODUCT (GDP) OF NIGERIA

Ilugbo S.O. () and Biremo B.
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Ilugbo S.O.: Department of Physics, Lead City University Ibadan, Oyo State, Nigeria
Biremo B.: Department of Statistics, Federal University of Technology Akure, Onod State, Nigeria

Matrix Science Mathematic (MSMK), 2023, vol. 7, issue 2, 103-113

Abstract: This study examine the significant contribution of Nigeria Stock Market towards the Gross Domestic Product. The main objective of this work is to assess the level of Stock Market stability in Nigeria by applying Dynamic Regression to modeling of Gross Domestic Product (GDP) using the Quarterly Gross Domestic Product at 1990 constant basic prices of Nigeria from the first quarter of 1985 to the third quarter of 2013. Quarterly all Share Index of the Nigerian Stock Exchange from the first quarter of 1985 to the fourth quarter of 2013 and finally Quarterly Market Capitalization of the Nigerian Stock Exchange for the same period. It was observed that the relationship is statistically significant, which allows the stock market to have an impact on the Nigerian Economy. It was concluded that Government and Economic planner should take more advantage of statistical tools in studying the relationship between the GDP movement and the Stock Exchange.

Keywords: Dynamic Regression; Gross Domestic Product; Stock Exchange (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:zib:zbmsmk:v:7:y:2023:i:2:p:103-113

DOI: 10.26480/msmk.02.2023.103.113

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