Bullion
Keywords
Money Market, impact
Abstract
This study examines the influence of goods and money
market indicators on the performance of the Nigerian
stock market index from 1985 to 2021 using
Autoregressive Distributed Lag model. The findings
demonstrate that goods market indicators such as
domestic savings and government spending have a
strong positive effect on the performance of the stock
market index, but domestic investment has a negative
influence on the performance of the stock market index.
This is because majority of the investors in goods market
are financially excluded and have no access to formal
financial system. The results of the money market reveal
that there is a considerable positive relationship
between interest rates and the stock market index. This
study recommends that domestic savings and
government expenditure should be increased. Further,
the regulatory agency should raise interest rate to a
level that benefits both investors and financial
institutions.
Issue
No. 2
Volume
47
First Page
20
Last Page
28
Recommended Citation
Hassan, Adamu and Abubakar, Mika'‘ilu
(2023)
"Impact of Goods and Money Market Indicators on Stock Market Index in Nigeria,"
Bullion: Vol. 47:
No.
2, Article 3.
Available at:
https://dc.cbn.gov.ng/bullion/vol47/iss2/3