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Linear and asymmetric interactions of bank and stock market development in the face of global economic uncertainty: a focus on the Nigerian economy

Abstract This study explores the functional interaction between bank development and stock market development in the face of uncertainty variables. The geography of the study is one of the largest economies in Africa—Nigeria—regarding the following variables: credit to the private sector (CPS), broad money (M2) stock market capitalization (MCAP), and industrial production (IP), which are all scaled by the gross domestic product (GDP) and used in natural log form. Additionally, we included the natural logarithm of a measure of monetary policy uncertainty, which represents the uncertainty variab…

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    from https://link.springer.com/content/pdf/10.1186/s40854-025-00810-y.pdf