Lawal, Adedoyin Isola and Somoye, Russel O. and Babajide, A. A and Nwanji, Tony Ikechukwu (2017) The effectof fiscal and monetary policies interactionon stock market performance: Evidence from Nigeria. Future Business Journal, I (IIII). III-III.
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Abstract
This studyexaminestheimpactoftheinteractionsbetween fiscal andmonetarypoliciesonstockmarketbehaviour(ASI)and the impactofthevolatilityoftheseinteractionsontheNigerianstockmarket.ThestudyanalysedmonthlydatausingtheARDL and EGARCHmodels.Theresultsshowtheinteractionbetweenmonetaryand fiscal policiesinfluence onstockmarketreturnsin Nigeria. TheARDLresultsshowevidenceoflongrunrelationshipbetweenASIandMonetary-fiscal policies.Theresultsfromthe volatility estimatesshowthattheASIvolatilityislargelysensitivetovolatilityintheinteractionsbetweenthetwopolicy instruments. Theresultssuggestcalibratingboththemonetaryand fiscal policiesinasinglemodelwhenformulatingstockmarket policy astheirinteractionexertssignificantly onstockmarketbehaviour,thusbothpoliciesshouldbeconsideredintandem.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | Fiscal-monetarypolicy;Stockmarket;ARDL;EGARCH;Nigeria |
| Subjects: | H Social Sciences > H Social Sciences (General) H Social Sciences > HF Commerce > HF5601 Accounting |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Social Sciences |
| Depositing User: | Mrs Hannah Akinwumi |
| Date Deposited: | 09 Jan 2018 14:10 |
| Last Modified: | 09 Jan 2018 14:10 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/9945 |
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