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Journal of Economic and Social Development, Vol. 9 No. 1, 2022.

Preliminary communication

https://doi.org/10.55539/jesd.9.1.7.

Nexus Between Stock Market Performance and Manufacturing Growth in Nigeria

Isaac Tope Awe orcid id orcid.org/0000-0002-3198-8010 ; Department of Economics, School of Social and Management Science, Bamidele Olumilua University of Education, Science and Technology, Ikere – Ekiti, Nigeria

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Abstract

This study examined the nexus between stock market performance and manufacturing growth in Nigeria using
data spanning between 1985 and 2020. Vector Autoregression (VAR) model was employed to examine the
complex interaction between the variables. The result of the stationarity test through Augmented Dickey-Fuller
(ADF) and Phillip Peron (PP) affirmed the use of VAR. the study concluded that stock market performance
has a significant influence on manufacturing growth. Hence, the government should make a concerted effort
by making appropriate monetary policy that will promote stock market performance that will lead to capacity
growth of the manufacturing sub-sector.

Keywords

Stock Market Performance, Manufacturing Growth, All-share Index, Equity, Industrial Loan

Hrčak ID:

275104

URI

https://hrcak.srce.hr/275104

Publication date:

31.3.2022.

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