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Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria

Year 2016, Volume: 6 Issue: 1, 354 - 360, 01.03.2016

Babajide Abiola Ayopo Lawal Adedoyin Isola Somoye Russel Olukayode

https://izlik.org/JA89TA29HR

Abstract

This study examined the relationship between macroeconomic variable volatility and stock market return within the context of Blanchard (1981) extension of the Hicks (1937) IS-LM hypothesis, using EGARCH estimation techniques to analysis monthly data sourced on the Nigerian economy from January 1985 to December 2013. Our result shows that stock prices responds significantly to innovations in the interest rate and the RGDP, we therefore recommends that policy makers on the one hand should consider volatility in both the interest rate and the RGDP when making policies aimed at enhancing stock market development. On the other hand, market practitioners are expected to make provisions for volatility in interest rate and the RGDP when making portfolio decisions.

Keywords

Interest Rate Real Gross Domestic Product All Share Price Volatility Exponential General Autoregressive Conditional Heteroskedascity

Year 2016, Volume: 6 Issue: 1, 354 - 360, 01.03.2016

Babajide Abiola Ayopo Lawal Adedoyin Isola Somoye Russel Olukayode

https://izlik.org/JA89TA29HR

Abstract

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Details

Other ID JA78DM78NF
Authors

Babajide Abiola Ayopo This is me

Lawal Adedoyin Isola This is me

Somoye Russel Olukayode This is me

Publication Date March 1, 2016
IZ https://izlik.org/JA89TA29HR
Published in Issue Year 2016 Volume: 6 Issue: 1

Cite

APA Ayopo, B. A., Isola, L. A., & Olukayode, S. R. (2016). Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria. International Journal of Economics and Financial Issues, 6(1), 354-360. https://izlik.org/JA89TA29HR
AMA 1.Ayopo BA, Isola LA, Olukayode SR. Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria. IJEFI. 2016;6(1):354-360. https://izlik.org/JA89TA29HR
Chicago Ayopo, Babajide Abiola, Lawal Adedoyin Isola, and Somoye Russel Olukayode. 2016. “Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria”. International Journal of Economics and Financial Issues 6 (1): 354-60. https://izlik.org/JA89TA29HR.
EndNote Ayopo BA, Isola LA, Olukayode SR (March 1, 2016) Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria. International Journal of Economics and Financial Issues 6 1 354–360.
IEEE [1]B. A. Ayopo, L. A. Isola, and S. R. Olukayode, “Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria”, IJEFI, vol. 6, no. 1, pp. 354–360, Mar. 2016, [Online]. Available: https://izlik.org/JA89TA29HR
ISNAD Ayopo, Babajide Abiola - Isola, Lawal Adedoyin - Olukayode, Somoye Russel. “Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria”. International Journal of Economics and Financial Issues 6/1 (March 1, 2016): 354-360. https://izlik.org/JA89TA29HR.
JAMA 1.Ayopo BA, Isola LA, Olukayode SR. Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria. IJEFI. 2016;6:354–360.
MLA Ayopo, Babajide Abiola, et al. “Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria”. International Journal of Economics and Financial Issues, vol. 6, no. 1, Mar. 2016, pp. 354-60, https://izlik.org/JA89TA29HR.
Vancouver 1.Babajide Abiola Ayopo, Lawal Adedoyin Isola, Somoye Russel Olukayode. Stock Market Response to Economic Growth and Interest Rate Volatility: Evidence from Nigeria. IJEFI [Internet]. 2016 Mar. 1;6(1):354-60. Available from: https://izlik.org/JA89TA29HR