Browsing by Author "Ncube, Gaile"

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    Are African stock markets intergrated? The case of JSE and selected African stock markets
    (University of Fort Hare, 2014-09-30) Ncube, Gaile
    Generally African stock markets are deemed to be small, segmented and illiquid. The study utilises monthly data for the period of 2000 to 2008, employing the Johansen and Julius cointegration method to determine the long run relationship between the five selected African stock markets. Granger causality test were also conducted to establish if there is any causal links between the stock markets in Africa. The analysis in the study indicates that African stock markets are improving in performance generally, growing and developing. However empirical results indicate that African markets are segmented. A further analysis, to determine the relationship between the five selected African stock markets and the world stock markets, show that African stock markets are affected by developments in the international markets. Hence portfolio diversification opportunities exist in the African stock markets suggesting that investors should also consider investing in their African countries as they offer opportunities rather than considering investing in the international markets only.
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    Are African stock markets intergrated? the case of JSE and selected African Stock markets
    (University of Fort Hare, 2014-09-30) Ncube, Gaile
    Generally African stock markets are deemed to be small, segmented and illiquid. The study utilises monthly data for the period of 2000 to 2008, employing the Johansen and Julius cointegration method to determine the long run relationship between the five selected African stock markets. Granger causality test were also conducted to establish if there is any causal links between the stock markets in Africa. The analysis in the study indicates that African stock markets are improving in performance generally, growing and developing. However empirical results indicate that African markets are segmented. A further analysis, to determine the relationship between the five selected African stock markets and the world stock markets, show that African stock markets are affected by developments in the international markets. Hence portfolio diversification opportunities exist in the African stock markets suggesting that investors should also consider investing in their African countries as they offer opportunities rather than considering investing in the international markets only.