Evaluating the Impact of Stock Market Performance and Digital Currency Development on Economic Growth in West African Economies (2010–2025)
Abstract
This study examines the interaction between stock market performance, digital currency development, and economic growth in selected West African economies from 2010 to 2025. The evolution of digital finance and capital markets has reshaped economic systems across the region, presenting new channels for investment, savings, and monetary control. Using a comparative cross-country analysis and secondary macroeconomic data, the research investigates how traditional financial market indicators and digital financial innovations jointly influence economic performance. The findings reveal that digital currency adoption complements stock market activities in driving GDP growth, particularly through improved financial inclusion and transaction efficiency. However, the volatility and regulatory uncertainties surrounding digital assets remain significant challenges to sustainable financial development. The paper recommends harmonized digital currency policies, improved investor confidence, and strengthened regional market integration to enhance West Africa’s digital-financial ecosystem.
Keywords
Stock market performance, digital currency, economic growth, West Africa, financial integration, hybrid currency.
Citations
IRE Journals:
Itodo, H. N., Garba, F. S.-U., Ughamadu, C. C., Adesanya, A. M., Hawakulu, A. "Evaluating the Impact of Stock Market Performance and Digital Currency Development on Economic Growth in West African Economies (2010–2025)" Iconic Research And Engineering Journals Volume 9 Issue 4 2025 Page 991-993 https://doi.org/10.64388/IREV9I4-1711469-3218
IEEE:
Itodo, H. N., Garba, F. S.-U., Ughamadu, C. C., Adesanya, A. M., Hawakulu, A.
"Evaluating the Impact of Stock Market Performance and Digital Currency Development on Economic Growth in West African Economies (2010–2025)" Iconic Research And Engineering Journals, 9(4) https://doi.org/10.64388/IREV9I4-1711469-3218
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