Arabian Journal of Business and Management Review

Hassan A

Publications

• Research Article
  Exchange Rate and Stock Market Interactions: Evidence from Nigeria
  Author(s): Bala Sani AR and Hassan ABala Sani AR and Hassan A
  
  This study examines the linkage between exchange rates and stock market in Nigeria using annual data from 1985 to 2015. In conducting the analysis, this study utilized Autoregressive Distributed Lag (ARDL) model and Granger Causality tests. Exchange rate, economic growth, money supply and stock market (i.e., all share indexes) were captured in the model. The results show that exchange rate and economic growth have positive and statistically significant impact on stock market in Nigeria, while money supply has negative and statistically significant influence on stock market over the study period. Granger causality results indicated that there is unidirectional causality running from exchange rate to stock market. Similarly, there is unidirectional causality running from stock market to money supply. It is also indicating no evidence of causality runs from economic growth to stock marke.. Read More»
  

  Abstract PDF