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FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE

Igbinedion Sunday Osahon ; Department of Economics and Statistics University of Benin, Benin City, Nigeria
Dickson E. Oriakhi ; Department of Economics and Statistics University of Benin, Benin City, Nigeria

Puni tekst: engleski, pdf (401 KB) str. 259-274 preuzimanja: 983* citiraj
APA 6th Edition
Osahon, I.S. i Oriakhi, D.E. (2013). FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE. Ekonomska misao i praksa, (1), 259-274. Preuzeto s https://hrcak.srce.hr/104538
MLA 8th Edition
Osahon, Igbinedion Sunday i Dickson E. Oriakhi. "FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE." Ekonomska misao i praksa, vol. , br. 1, 2013, str. 259-274. https://hrcak.srce.hr/104538. Citirano 18.05.2021.
Chicago 17th Edition
Osahon, Igbinedion Sunday i Dickson E. Oriakhi. "FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE." Ekonomska misao i praksa , br. 1 (2013): 259-274. https://hrcak.srce.hr/104538
Harvard
Osahon, I.S., i Oriakhi, D.E. (2013). 'FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE', Ekonomska misao i praksa, (1), str. 259-274. Preuzeto s: https://hrcak.srce.hr/104538 (Datum pristupa: 18.05.2021.)
Vancouver
Osahon IS, Oriakhi DE. FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE. Ekonomska misao i praksa [Internet]. 2013 [pristupljeno 18.05.2021.];(1):259-274. Dostupno na: https://hrcak.srce.hr/104538
IEEE
I.S. Osahon i D.E. Oriakhi, "FISCAL DEFICITS AND STOCK PRICES IN NIGERIA: AN EMPIRICAL EVIDENCE", Ekonomska misao i praksa, vol., br. 1, str. 259-274, 2013. [Online]. Dostupno na: https://hrcak.srce.hr/104538. [Citirano: 18.05.2021.]

Sažetak
This study investigates the effects of fiscal deficits on stock prices in Nigeria, utilizing vector auto-regression and error-correction mechanisms (ECM) techniques with annual time series data spanning 1984-2010. The results reveal, amongst others, that fiscal deficit is negatively related to stock prices. Therefore, to maintain a robust stock market, the authorities are expected to de-emphasize monetary financing of fiscal deficits in preference for bond-financing, since the former not only promotes the problems of inflation in the economy, but also depresses stock prices as well. Such efforts should be complemented by mounting more vigorous awareness campaigns to help sensitize and attract more investors into the stock market.

Ključne riječi
Stocks; fiscal deficits; Nigeria

Hrčak ID: 104538

URI
https://hrcak.srce.hr/104538

Posjeta: 1.183 *