Macroeconomic Variables and Stock Price Changes in Emerging Stock Market Evidence from Nigeria

This study investigated macro economic variables and stock price changes in emerging stock market evidence from Nigeria. The main objective of the study was to ascertain the major macroeconomic variables that are determinants of stock prices in Nigerian Stock market. Secondary data was collected from CBN Statistical bulletins and used. The co integration technique was used for the data analysis. The results of the study or findings revealed that Exchange rate has a positive effect on stock prices Real GDP has a positive effect on stock prices money supply has negative effect on stock prices on the long run while interest rate, inflation rate, have no significant effect on stock prices. Based on the findings, it is thus recommended as follows more attention should be paid to credit control and long term supply of money by monetary authorities to stabilize stock prices instead of adopting price stabilization measures. Concerned authorities should tame inflation and interest rates, check stock prices manipulations, ensure the production and promotion of export products agents of stock market can also predict stock prices by observing trend of output growth consistently of a particular industry and Nigeria government and entrepreneurs should engage in the production of tradable goods rather than only crude oil to create more export for the country and hence boost stock market trading with more investors. Matthew Osedebamhen Moni | Steve Nkem Ibenta | Victor Ike Okonkwo "Macroeconomic Variables and Stock Price Changes in Emerging Stock Market Evidence from Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-1 , December 2021, URL: https://www.ijtsrd.com/papers/ijtsrd47503.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/47503/macroeconomic-variables-and-stock-price-changes-in-emerging-stock-market-evidence-from-nigeria/matthew-osedebamhen-moni