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ISSN: 2167-0269

Journal of Tourism & Hospitality
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Research Article

An Empirical Study on the Dynamic Relationship between Crude Oil Prices and Nigeria Stock Market

Rabia Najaf* and Khakan Najaf

Department of Accounting and Finance, University of Lahore, Islamabad Campus, Pakistan

*Corresponding Author:
Rabia Najaf
Department of Accounting and Finance
University of Lahore, Islamabad Campus
Pakistan
Tel: +92 (0)42 111-865-865
E-mail: [email protected]

Received Date: September 12, 2016; Accepted Date: September 27, 2016; Published Date: October 04, 2016

Citation: Najaf R, Najaf K (2016) An Empirical Study on the Dynamic Relationship between Crude Oil Prices and Nigeria Stock Market. J Tourism Hospit 5:245. doi: 10.4172/2167-0269.1000245

Copyright: © 2016 Najaf R, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.

Abstract

In this paper, we have examined the crude oil price on the performance of Nigerian stock exchange and exchange rate act as the plausible countercyclical tool. We have applied the different models and collected the results that crude oil prices have direct impact on the stock exchange of Nigeria. The Nigeria stock exchange is regulated by the Securities and Exchange Commission. Nigeria stock exchange has the automated trading system. The basic facility of Nigeria trading system is (ATS), it is helpful to remote trading system. Consequently, most of the investors do trade with the method of ATS. This study is also proving that Nigeria stock exchange has influenced on the performance of the economy. Impact of oil crisis on the Nigeria stock exchange. Impact of crude oil crisis on the development of country. Effect of exchange rate policy on the performance of Nigeria stock exchange.

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