THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSIS
This paper studies the effect of capital market on economic growth in the presence of corruption in the Nigerian context. We employed the use of cointegration and Vector Error Correction Model (VECM). We find out that both corruption and capital market has long run associationship with economic d...
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| Format: | Article |
| Language: | English |
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University in Belgrade
2015-11-01
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| Series: | Serbian Journal of Management |
| Subjects: | |
| Online Access: | http://www.sjm06.com/SJM%20ISSN1452-4864/10_2_2015_November_141_277/10_2_2015_189_200.pdf |
| _version_ | 1811314157920714752 |
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| author | Ibraheem Kamaldeen Nageri Ibraheem Sherifdeen Nageri Abdullateef Amin |
| author_facet | Ibraheem Kamaldeen Nageri Ibraheem Sherifdeen Nageri Abdullateef Amin |
| author_sort | Ibraheem Kamaldeen Nageri |
| collection | DOAJ |
| description | This paper studies the effect of capital market on economic growth in the presence of corruption
in the Nigerian context. We employed the use of cointegration and Vector Error Correction Model
(VECM). We find out that both corruption and capital market has long run associationship with
economic development in Nigeria but has no short run relationship. This simply means that there is
short run gain and long run pain for the Nigerian economy if corruption and capital market are not
checked and well regulated respectively in Nigeria. We therefore recommend that government should
strengthen the anti-graft agencies and equip them technologically and make them independent,
educate the public on the problems associated with corrupt practices and the economic implication
especially through the capital market and encourage local investors to invest in the capital market to
improve liquidity and profitability of the Nigerian capital market. |
| first_indexed | 2024-04-13T11:06:54Z |
| format | Article |
| id | doaj.art-bb23dd5ec87e4c21b938e4ccc58631b9 |
| institution | Directory Open Access Journal |
| issn | 1452-4864 2217-7159 |
| language | English |
| last_indexed | 2024-04-13T11:06:54Z |
| publishDate | 2015-11-01 |
| publisher | University in Belgrade |
| record_format | Article |
| series | Serbian Journal of Management |
| spelling | doaj.art-bb23dd5ec87e4c21b938e4ccc58631b92022-12-22T02:49:15ZengUniversity in BelgradeSerbian Journal of Management1452-48642217-71592015-11-0110218920010.5937/sjm10-7507THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSISIbraheem Kamaldeen Nageri0Ibraheem Sherifdeen Nageri 1Abdullateef Amin2Department of Banking and Finance, Al-Hikmah University, Ilorin, P.M.B 1601, Ilorin Kwara State, NigeriaDepartment of Finance, University of Ilorin, Ilorin, NigeriaDepartment of Business Administration, Al-Hikmah University, Ilorin, NigeriaThis paper studies the effect of capital market on economic growth in the presence of corruption in the Nigerian context. We employed the use of cointegration and Vector Error Correction Model (VECM). We find out that both corruption and capital market has long run associationship with economic development in Nigeria but has no short run relationship. This simply means that there is short run gain and long run pain for the Nigerian economy if corruption and capital market are not checked and well regulated respectively in Nigeria. We therefore recommend that government should strengthen the anti-graft agencies and equip them technologically and make them independent, educate the public on the problems associated with corrupt practices and the economic implication especially through the capital market and encourage local investors to invest in the capital market to improve liquidity and profitability of the Nigerian capital market.http://www.sjm06.com/SJM%20ISSN1452-4864/10_2_2015_November_141_277/10_2_2015_189_200.pdfCorruptionCapital marketCo-integrationVector Error Correction |
| spellingShingle | Ibraheem Kamaldeen Nageri Ibraheem Sherifdeen Nageri Abdullateef Amin THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSIS Serbian Journal of Management Corruption Capital market Co-integration Vector Error Correction |
| title | THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSIS |
| title_full | THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSIS |
| title_fullStr | THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSIS |
| title_full_unstemmed | THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSIS |
| title_short | THE JOINT IMPACT OF STOCK MARKET AND CORRUPTION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA: EVIDENCE FROM COINTEGRATION AND VECM ANALYSIS |
| title_sort | joint impact of stock market and corruption on economic growth and development in nigeria evidence from cointegration and vecm analysis |
| topic | Corruption Capital market Co-integration Vector Error Correction |
| url | http://www.sjm06.com/SJM%20ISSN1452-4864/10_2_2015_November_141_277/10_2_2015_189_200.pdf |
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