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Stock market liquidity and economic growth in Nigeria (1980 to 2012)

Ogunrinola, Ifeoluwa I. and Motilewa, Deborah B. (2015) Stock market liquidity and economic growth in Nigeria (1980 to 2012). Journal of Economics and International Business Management, 3 (6). ISSN 2384-7328

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Abstract

This study examined the impact of stock market liquidity on economic growth of Nigeria between the years 1980 and 2012. With the use of EViews 5.0 econometric software, tests for stationarity using the Augmented Dickey- Fuller approach was carried out while the ordinary least square (OLS) technique was employed to estimate the basic model specified for the study. The result of the analysis of data revealed that variables were stationary at their first difference while the Johansen co-integration approach confirmed the existence of co-integrating relationship at the 5 percent level of significance. The study found, surprisingly, that stock market liquidity was not a statistically significant variable explaining economic growth in Nigeria for the periods under study.

Item Type: Article
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Law, Arts and Social Sciences > School of Management
Depositing User: Mr Adewole Adewumi
Date Deposited: 08 Jan 2016 15:47
Last Modified: 08 Jan 2016 15:47
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/5788

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