| Título: | Exchange Rate Volatility and Stock Market Behaviour: The Nigerian Experience |
| Autores: | Olugbenga, Adaramola Anthony |
| Fecha: | 2012-04-01 |
| Publicador: | European Journal of Business and Management |
| Fuente: |
 |
| Tipo: |
info:eu-repo/semantics/article Peer-reviewed Article info:eu-repo/semantics/publishedVersion |
| Tema: | No aplica |
| Descripción: | This study examines the long-run and short-run effects of exchange rate on stock market development in Nigeria over 1985:12009:4 using the Johansen cointegration tests. A bi-variate model was specified and empirical results show a significant positive stock market performance to exchange rate in the short-run and a significant negative stock market performance to exchange rate in the long-run. The Granger causality test shows a strong evidence that the causation runs from exchange rate to stock market performance; implying that variations in the Nigerian stock market is explained by exchange rate volatility. Keywords: Johansen Cointegration Tests; Granger Causality Test; Exchange Rate Volatility; Stock Market performance. |
| Idioma: | Inglés |
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