We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
REGIONAL INTEGRATION OF EQUITY MARKETS IN SUB-SAHARAN AFRICA.
- Authors
Piesse, Jenifer; Hearn, Bruce
- Abstract
Equity markets in developing and emerging economies have grown in number and importance as a result of financial market globalisation. However, their role in economic growth and development is enhanced if nascent markets are integrated with well-established ones. Market integration, measured by the transmission of returns volatility, is identified across a sample of SSA countries, using a unique dataset. Evidence for potential integration between financial markets in Sub-Saharan Africa (SSA) is found. Spillovers are found across markets, some unidirectional and others bi-directional. However, continued illiquidity and incomplete institutions indicate that an integrated financial community remains premature, and considerable regulatory reform and harmonisation will be necessary for this to succeed.
- Subjects
GLOBALIZATION; INVESTMENT banking; TRADE regulation; ECONOMIC indicators; LIQUIDITY (Economics); LAW reform
- Publication
South African Journal of Economics, 2005, Vol 73, Issue 1, p36
- ISSN
0038-2280
- Publication type
Article
- DOI
10.1111/j.1813-6982.2005.00003.x