International records / OpenAlex research

Interconnectedness between stock market and economic growth in Nigeria: Evidence from Yamamoto and pairwise approaches

This study examined the causal relationship between the stock market and economic growth in Nigeria from 1980 to 2023.Four key indicators of the equity market -market capitalization ratio, total value of shares traded, number of quoted 􀅫irms, and turnover ratio were employed to ascertain the 􀅫low of causality between stock market activity and economic performance.To achieve this, the study utilized the dynamic Toda-Yamamoto causality model alongside the conventional Pairwise Granger Causality technique for a comprehensive analysis.Notably, the two methods yielded somewhat divergent results; ho…