Market opening and economic growth in Nigeria

Ifeanyi, Ogbebor Peter; Romanus, Okolie Onyeisi; Tunji, Siyanbola Trimisiu

doi:10.5897/jeif2019.1019

Cited by 5 publications

(3 citation statements)

References 25 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…The negative effect on the short run could also come from government policies that discourage foreign investments (say high taxes) put in place.The results showed that most SSA countries encourage FDI using direct and indirect measures and this reflect on the GDP growth as can be observe in the short and long run. The results are consistent with the correlation matrix and apriori expectation plus the findings of Ogbebor et al. (2020).…”

Section: Methodssupporting

confidence: 91%

“…Using panel vector auto-regression model and the Granger causality test, the results revealed that bond market development, stock market development, inflation rate and real interest rate are demonstrable drivers of economic growth in the long run. Ogbebor et al. (2020) use a VECM and causality tests to study the case of Nigeria from 1986 to 2016.…”

Section: Literature Reviewmentioning

confidence: 99%

See 1 more Smart Citation

Stock market development and economic growth in sub-Saharan Africa (1990–2020): an ARDL approach

Thaddeus

Ngong

Nnecka

et al. 2022

JEAS

View full text Add to dashboard Cite

PurposeThe purpose of this paper is to investigate the short and long run causal relationship between stock market development and economic growth in sub-Saharan Africa within the period 1990 and 2020.Design/methodology/approachUsing panel data from 1990–2020 obtained from the World Bank development indicators, the study makes use of the autoregressive distributed lag model and the Granger causality and cointegration to analyze the long and short run causal relationship between stock market development and economic growth in sub-Saharan Africa.FindingsThe findings unveiled that stock market capitalization had a positive and significant effect on economic growth in the long run and a negative insignificant effect in the short run within the period of 1990–2020 while stock market liquidity measured through total value of shares traded and turnover ratio had a negative and significant effect on economic growth in sub-Saharan Africa within the period of 1990–2020. The Granger causality test showed an inconclusive result between stock market development and economic growth; implying that the authors cannot say if it is stock market development that causes economic growth or it is economic growth that causes stock market development within the period of 1990–2020.Practical implicationsThe findings suggest that governments of sub-Saharan African countries should encourage stock market development by implementing favorable rules for companies listing on their stock market, promote stock market integration with world markets to diversify risk, increase public awareness on stock markets, increase investors' confidence level and finally, remove stock market impediments like high taxes, legal and regulatory barriers to its development.Originality/valueThis study contributes to the existing literature by offering a whole new perspective on stock market development and economic growth since its conception in sub-Saharan Africa. Again, contrary to other papers, the study show how stock market development can contribute to the growth of sub-Saharan Africans’ economy.

show abstract

Section: Methodssupporting

confidence: 91%

Section: Literature Reviewmentioning

confidence: 99%

Stock market development and economic growth in sub-Saharan Africa (1990–2020): an ARDL approach

Thaddeus

Ngong

Nnecka

et al. 2022

JEAS

View full text Add to dashboard Cite

show abstract

“…Dividend per share, a crucial financial metric, signifies the dividend declared for each equity share during a specific period. While investors commonly prioritize earnings per share as an indicator of a company's performance, there is a prevalent understanding that dividend declarations may not always accurately reflect the true state of a company's performance (Siyanbola & Adedeji, 2014). Khan (2012) underscored the significance of dividend per share for investors, highlighting that dividends not only act as a source of income but also offer a valuable means to evaluate a company from an investment perspective.…”

Section: Dividend Per Share and Market Price Per Sharementioning

confidence: 99%

Factors Affecting Share Performance of Quoted Deposit Money Banks in Nigeria

O.,

A. A.

2024

African Journal of Accounting and Financial Research

View full text Add to dashboard Cite

The study examined the factors affecting share performance of quoted deposit money banks in Nigeria. The study adopted ex-post facto research design, and the population of the study consisted of all deposit money banks quoted in Nigeria as at 31st December, 2022. However, nine (9) banks were selected as sample size using a judgmental sampling technique. Data for the study were obtained from the annual reports and accounts of the nine (9) deposit money banks for the period of 10 years ranging from 2013-2022. The study used the OLS regression model as a technique of data analysis. The study found that earnings per share has a significant positive effect on market price per share. Meanwhile, dividend per share and price earnings ratio have an insignificant positive effect on market price per share, while book value per share has an insignificant negative effect on market price per share of quoted deposit money banks in Nigeria. The study recommends that corporate organizations, particularly corporate companies, should develop and implement strategies that will help improve their earnings per share, dividend per share and price earnings ratio in order to increase their share performance in the market.

show abstract

Financial Development and Real Gross Domestic Product in Rwanda

Karekezi,

Owolabi,

Ogbebor

et al. 2024

IJEFM

View full text Add to dashboard Cite

Real gross domestic product as a macro-economic indicator measures the value of economic output after adjustment for price changes. In this regard, due to the role played by financial development in economic growth, financial intermediation has been regarded as an important factor in boosting gross domestic product in the both developed economies and developing economies. The study investigated the effect of financial development on Real Gross Domestic Product in Rwanda. The study adopted ex post facto design. Time series data were collected from 2011-2022 and Ordinary Least Squares (OLS) was deployed. Findings revealed that financial liberalization, domestic credit to private sector, monetary policy rate, market capitalization and all share index jointly and significantly influenced real gross domestic product (Adj. R2 = 78.65%, p = 0.009028 < 0.05, F-stat = 9.108778) in Rwanda. The study concluded that financial development enhanced real gross domestic product in Rwanda. It was recommended that the government of Rwanda should improve on real gross domestic product by improving financial development through more liberalization of the financial sector, expansion of domestic credit to the private sector, market capitalization, all share index and use of monetary policy rate as effective channel of monetary transmission mechanism in the economy.

show abstract

Market opening and economic growth in Nigeria

Cited by 5 publications

References 25 publications

Stock market development and economic growth in sub-Saharan Africa (1990–2020): an ARDL approach

Stock market development and economic growth in sub-Saharan Africa (1990–2020): an ARDL approach

Factors Affecting Share Performance of Quoted Deposit Money Banks in Nigeria

Financial Development and Real Gross Domestic Product in Rwanda

Contact Info

Product

Resources

About