Unit root tests in the presence of structural breaks: Evidence from African stock markets
This paper examines whether stock prices for fourteen African countries are affected by transitory or permanent shocks. This study answers whether Africa stock market indices are mean-reverting or random-walk in the presence of multiple structural breaks. To investigate African equity price behavior...
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| Format: | Article |
| Language: | English |
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Universitas Islam Indonesia
2020-10-01
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| Series: | Economic Journal of Emerging Markets |
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| Online Access: | https://journal.uii.ac.id/JEP/article/view/16408 |