The Effects of Oil Price Volatility on Selected Banking Stock Prices in Nigeria
Nigeria Deposit Insurance Corporation (NDIC)
Introduction; Review of literature; Theoretical framework, Methodology and data issues; Empirical results and discussion; Conclusion and policy implications; References
The stock market has been viewed as a market where most elements that feed into the development of a nation’s economy operate. In Nigeria, the Nigerian Stock Exchange (NSE), which is one of the fastest-growing stock markets in Africa and among the emerging stock markets in the world, has recorded phenomenal growth. As of 2002, of the eight sub-Saharan markets analyzed, only Nigeria, South Africa, and Zimbabwe were considered ‘frontier markets’ and are thus, included in the IFC Global Composite Index (Magnusson and Wydick, 2002). Moreover, the recent global financial crisis led to a downward movement of stock prices and also posed a great threat to an emerging economy like Nigeria.