Macroeconomic Determinants Of Stock Prices Behaviour In Nigeria

ABSTRACTThe study investigates in an empirical pattern, the macroeconomic determinants of stock prices in Nigeria, using a time series estimation technique, essentially, the Granger Causality testing and the cointegration and error correction methods. Moreover, quarterly time series data was used in the estimation.              Results from the empirical analysis show that the level of income and general economic performance are the greatest determinant of stock price changes both in the short run and in the long run. Real income…