JURNAL AKUNTANSI UNIVERSITAS JEMBER
Vol 22 No 2 (2024)

STOCK MARKET INDICATORS AND NIGERIAN ECONOMY

Adekunle, Adewale Abass (Unknown)
Adeyinka, Adewole Joseph (Unknown)



Article Info

Publish Date
30 Dec 2024

Abstract

ABSTRACTThis study examines the impact of stock market indicators on economic growth in Nigeria. The research used an expo-facto design and purposive sampling, employing ARDL to analyze the effects of stock market indicators on Nigeria's economic growth. Data was sourced from Central Bank of Nigeria Statistical Bulletin. The overall findings revealed correlation value of 0.628 which indicate a moderate positive correlation between the predictors Equity (LEQ), Corporate Bond (LCB), All-Share Index (LALS), and Inflation (INFLA) and GDP. The study also revealed F statistic of 4.237 with a significance level of 0.009 which confirms that the model is statistically significant, meaning that there is significant relationship between the dependent and independent variables. The study recommendations that the policymaker should not only rely on the value of bond as the driver on economic growth in Nigeria. The investors can be encouraged to diversify their investment across different asset classes which serve as long-term investment strategy rather than focusing on the stock market equities. This is because the economic cycle and market trend can change over time and this will mitigate risk that is associated with volatile equity market and take into account broader economic trend and potential growth over time. The Nigeria stock market regulators should always review rules and regulations guiding the activities of buying and selling on the market in order to promote efficiency in price movement of stock market.Keywords: All Share Indexes; Gross Domestic Product; Stock Market Corporate Bonds; Stock Market Equities.

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Journal Info

Abbrev

JAUJ

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Akuntansi Universitas Jember dimaksudkan sebagai media pertukaran informasi dan karya ilmiah di antara staf pengajar, alumni, mahasiswa, pembaca yang berminat dan masyarakat pada umumnya. Jurnal Akuntansi Universitas Jember terbit setahun 2 (dua) kali pada setiap bulan Juni dan Desember. ...