EFFECT OF OIL PRICE CHANGES ON NIGERIA'S MARKET PERFORMANCE: AN NARDL APPROACH

Agbo, Elias Igwebuike (2021) EFFECT OF OIL PRICE CHANGES ON NIGERIA'S MARKET PERFORMANCE: AN NARDL APPROACH. International Journal of Advanced Research in Management and Social Science, 10 (1). pp. 9-35. ISSN 2278-6236

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Abstract

This paper examined the effect of oil price changes on Nigeria's market performance proxied by all-share index and using monthly frequency data that cover the period from January1997 to August 2020. It employed the Non-linear autoregressive distriuted lag methodology for data analysis. The results of the study suggest that both the increases The and decreases in oil price have positive impacts on Nigeria’s stock market performance. However, while a decrease in the oil price in the current period has a significant impact on the Nigerian stock market performance , both the decrease in oil price in the past period and its increase in the current period affect the Nigerian stock market performance non-significantly. The results of the study suggest that market participants should target oil price movements as an important instrument for predicting the changes in Nigeria’s stock market performance.

Item Type: Article
Subjects: H Social Sciences > HC Economic History and Conditions
Divisions: Faculty of Management and Social Sciences
Depositing User: mrs chioma hannah
Date Deposited: 04 Oct 2021 07:58
Last Modified: 04 Oct 2021 07:58
URI: http://eprints.gouni.edu.ng/id/eprint/3184

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