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Adedoyin I. Lawal
Landmark University
Economics, Econometrics & Finance

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Impact of Oil Price Shocks and Exchange Rate Volatility on Stock Market Behavior in Nigeria Adedoyin I. Lawal; Russel O. C Somoye; Abiola A. Babajide
Binus Business Review Vol. 7 No. 2 (2016): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v7i2.1453

Abstract

The impact of exchange rate and oil prices fluctuation on the stock market has been a subject of hot debate among researchers. This study examined the impact of both the exchange rate volatility and oil price volatility on stock market volatility in Nigeria, so as to guide policy formulation based on the fact that the nation’s economy was foreign induced and mono-cultured with heavy dependence on oil. EGARCH estimation techniques were employed to examine if either the volatility in exchange rate, oil price volatility or both experts on stock market volatility in Nigeria. The result shows that share price volatility is induced by both the exchange rate volatility and oil price volatility. Thus, it is recommended that policymakers should pursue policies that tend to stabilize the exchange rate regime on the one hand, and guarantee the net oil exporting position for the economy, that market practitioners should formulate portfolio strategies in such a way that volatility in both exchange rates and oil price will be factored in time when investment decisions are being made.
Capital Flight and the Economic Growth: Evidence from Nigeria Adedoyin I. Lawal; Kelechi Promise Kazi; Johnson Olabode Adeoti; Osagie Godswill Osuma; Sunday O. Akinmulegun; Bamidele Ilo
Binus Business Review Vol. 8 No. 2 (2017): Binus Business Review
Publisher : Bina Nusantara University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21512/bbr.v8i2.2090

Abstract

This research examined the impact of capital flight and its determinants on the Nigerian economy using the Autoregressive Distributed Lag (ARDL) model to analyze data source from the period of 1981 to 2015. The variables included current account balance, capital flight, foreign direct investments, foreign reserve, inflation rate, external debt, and the real gross domestic product. It was to examine the existence of a long run relationship among the variables studied. The result indicates that capital flight has a negative impact on the economic growth of Nigeria. Therefore, there is a need for government to implement policies that will promote domestic investment and discourage capital flight from Nigeria.
Co-Authors Abiola A. Babajide Bamidele Ilo Johnson Olabode Adeoti Kelechi Promise Kazi Osagie Godswill Osuma Russel O. C Somoye Sunday O. Akinmulegun