Efficiency of the Nigerian stock market with respect to pure contemporary monetary policy instruments: A dynamic weighted LS approach
Efficiency of the Nigerian stock market with respect to pure contemporary monetary policy instruments: A dynamic weighted LS approach
The study seeks to investigate empirically the relationship between the monetary policy instruments used by the Central Bank of Nigeria and stock market performance measured by the growth of market capitalization in the Nigerian Stock Exchange Market. We employed time series data that spanned from 1980-2013. This period was considered due to the liberalization of the financial sector. Utilizing the method of DWLS Model, the study found out that monetary policy instruments such as Monetary Policy