Economic Integration and Stock Market Development: Evidence from Nigeria

IF 1.3 Q3 ECONOMICS

International Trade Journal Pub Date : 2021-08-27 DOI:10.1080/08853908.2021.1950586

E. Olubiyi

引用次数: 0

Abstract

ABSTRACT This study assesses the relationship between economic integration and stock market performance in Nigeria alongside her top trading partners. The autoregressive distributed lag in the context of the new trade theory was utilized. The study finds a negative relationship between the US stock price and trade integration with Nigeria. India’s stock price affects and is affected by the degree of integration with Nigeria. It is therefore recommended that where trade integration significantly and positively drives the stock market of Nigeria, authorities should encourage trade policy while being conscious of trade policy arrangements with countries where such a policy is stock market inhibiting.

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经济一体化与股票市场发展:来自尼日利亚的证据

摘要本研究评估了尼日利亚及其主要贸易伙伴的经济一体化与股市表现之间的关系。利用了新贸易理论背景下的自回归分布滞后。研究发现，美国股价与尼日利亚贸易一体化之间存在负相关关系。印度的股价影响并受到与尼日利亚一体化程度的影响。因此，建议在贸易一体化对尼日利亚股市产生重大积极影响的情况下，当局应鼓励贸易政策，同时注意与抑制股市的国家的贸易政策安排。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Trade Journal Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.90

自引率

0.00%

发文量

期刊介绍： The International Trade Journal is a refereed interdisciplinary journal published for the enhancement of research in international trade. Its editorial objective is to provide a forum for the scholarly exchange of research findings in,and significant empirical, conceptual, or theoretical contributions to the field. The International Trade Journal welcomes contributions from researchers in academia as well as practitioners of international trade broadly defined.