2019
DOI: 10.22495/cgobr_v3_i1_p3
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Revisiting the growth effects of government bonds in the emerging capital market.

Abstract: We revisited the effects of government bonds for the growth on the Nigerian capital market. Utilising time-series data obtained from the Nigeria Stock Exchange (NSE) annual reports for the period from 2010 to 2017, this study through the Generalised Method of Moments (GMM) regression estimator found that the value and the number of listed government bonds’ positively and significantly affect capital market growth in Nigeria. Furthermore, low capitalisation of government bonds negatively affects the growth of t… Show more

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Cited by 4 publications
(4 citation statements)
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“…In this case, it is believed that FGB has a significant positive impact on the capital market. This result agrees with the findings of (Kibert, 2015;Olaniyan and Ekundayo, 2019). Table 5 also shows that TRB and INF have an insignificant negative impact on the capital market, while the BND is positively immaterial in affecting the capital market.…”
Section: Normality Testsupporting
confidence: 91%
See 2 more Smart Citations
“…In this case, it is believed that FGB has a significant positive impact on the capital market. This result agrees with the findings of (Kibert, 2015;Olaniyan and Ekundayo, 2019). Table 5 also shows that TRB and INF have an insignificant negative impact on the capital market, while the BND is positively immaterial in affecting the capital market.…”
Section: Normality Testsupporting
confidence: 91%
“…In addition, a univariate correlation was found in Indonesia, Thailand, and Mexico. Olaniyan and Ekundayo [7] surveyed the end product of administration bonds on Nigeria's wealth market from 2010-2017. The study used the Generalized Method of Moments regression technique and discovered that government bonds had a significant and positive effect on Nigeria's capital market growth.…”
Section: Empirical Reviewmentioning
confidence: 99%
See 1 more Smart Citation
“…The Nigerian stock market lacks depth and breadth when compared with its developing markets competitors, despite overwhelming evidence that the Nigerian economy receives massive influx of the capital and conducts a huge volume of trade flows (Manasseh, et al, 2017). The development of the stock market in Nigeria is hampered by poor macroeconomic infrastructure, regulatory problems, low levels of market participation, and unstable government (Olaniyan & Ekundayo, 2019). As a result of the insufficient institutional structure, financial markets and institutions function in an environment with inadequate financial reporting and weak governance (Fagbemi et al, 2016).…”
Section: Introductionmentioning
confidence: 99%