Relationship between Stock Markets in Africa: A Case of Five Selected Countries

It is aimed in this study to analyze the relationship between the stock markets in Africa (Egypt, Kenya, Morocco, Nigeria and South Africa). The sample used in the study is beginning from 2009 to 2018 in a weekly data range. The main findings in the study are: (1) price indices of Casablanca stock e...

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Bibliographic Details
Main Authors: Abdifitah Mohamed Jama Deer, Ayben Koy
Format: Article
Language:English
Published: Istanbul Commerce University 2019-10-01
Series:International Journal of Commerce and Finance
Subjects:
Online Access:http://ijcf.ticaret.edu.tr/index.php/ijcf/article/view/142
Description
Summary:It is aimed in this study to analyze the relationship between the stock markets in Africa (Egypt, Kenya, Morocco, Nigeria and South Africa). The sample used in the study is beginning from 2009 to 2018 in a weekly data range. The main findings in the study are: (1) price indices of Casablanca stock exchange are not influenced by other stock markets in the long run (2) Egyptian stock market can be used to predict the Kenyan stock market but not Morocco, South Africa, or Nigeria, (3) South African stock market can be used to predict the Egyptian, Nigerian, and Kenya stock markets, and (4) Johannesburg stock exchange plays a vital role in effecting the stock prices of other African countries.
ISSN:2149-9608
2149-9608