The Influence of Oil Price Fluctuations on Stock Market of Developing Economies: A Focus on Nigeria

Nwude, E. Chuke and Eluyela, Damilola Felix and Agbo, Elias Igwebuike and Iyoha, Francis O. (2021) The Influence of Oil Price Fluctuations on Stock Market of Developing Economies: A Focus on Nigeria. International Journal of Energy Economics and Policy, 11 (3). pp. 100-109. ISSN 2146-4553

[img] Text
The_Influence_of_Oil_Price_Fluctuations_on_Stock_M.pdf
Download (1MB)

Abstract

The inconclusiveness of findings from various studies on Nigeria on the effect of crude oil price fluctuation on the stock market has led to an argument in literature, thus necessitating further exploration of the subject. This study examines the effect of variations in the price of crude oil on selected stock market performance variables in Nigeria using monthly frequency data covering January 1997-December 2016. Variance decomposition, impulse response analysis, and VAR estimations were employed for the study. The results reveal that oil price variations are slowly transmitted in some stock market performance variables. The findings indicate that the effect of crude oil price fluctuations in the Nigerian stock market is greatly minimized and does not sufficiently account for market activities.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 04 Sep 2021 22:39
Last Modified: 04 Sep 2021 22:39
URI: http://eprints.gouni.edu.ng/id/eprint/3094

Actions (login required)

View Item View Item
GOUNI Repository is powered by EPrints 3 which is developed by the School of Electronics and Computer Science at the University of Southampton. More information and software credits.