the conventional symmetrical panel ARDL (PARDL) model was not able to formulate long-run cointegration between currency …. However, asymmetrical cointegration was established between the currency values and stock market indexes for the pre …

between the variables. The evidence reveals that there is a strong long-run cointegration. The robustness of the ARDL bounds … test cointegration was confirmed using the newly-developed combined cointegration, which also provided the same evidence …

of money demand. This presumption is explored by means of a cointegration analysis. To separate income from wealth …

test and the cointegration with structural break. There are five important results for narrow and broad money in Nigeria …. First, there is cointegration between narrow and broad money and their determinants, income, interest rate, exchange rate … and real stock prices. Second, stock prices are an important determinant since cointegration fails if real stock prices …

capital integration with cointegration techniques. This approach minimizes the risk of accepting the null of no cointegration … provide partial support in favor of cointegration, and therefore for capital markets integration, among stock market indices … when proper attention is given to issues like the identification and temporal stability of the cointegration vectors as …