Are African stock markets intergrated? The case of JSE and selected African stock markets
No Thumbnail Available
Date
2014-09-30
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
University of Fort Hare
Abstract
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.
Description
Masters Theses
Keywords
SOCIAL SCIENCES::Business and economics::Economics, Africa
Citation
Chamisa,S.F.(2014).Job insecurity and Work-family conflict in relation to Job engagement in the Energy Industry in selected organisations in Amathole District.Alice: University of Fort Hare