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GENERAL & APPLIED ECONOMICS

Exchange Rate Shocks and Sectoral Stock Returns in Nigeria: Do Asymmetry and Structural Breaks Matter?

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Article: 2045719 | Received 28 Oct 2021, Accepted 12 Feb 2022, Published online: 04 Mar 2022

Figures & data

Table 1. Descriptive statistics

Table 2. Unit root test results

Table 3. nit root test with structural breaks

Table 4. Short run estimation without break

Table 5. Long-run estimation without break

Table 6. Asymmetry Wald test without structural breaks

Table 7. Bai- Perron (Citation2003) structural break date

Table 8. Short run estimation with breaks

Table 9. Long run estimation with breaks

Table 10. Asymmetry Wald test with structural breaks