Artikel
Foreign equity flows and stock market liquidity in Kenya
In this paper, we explore the dynamic relationship between aggregate foreign equity inflows and aggregate liquidity of the Kenyan stock market using transactional foreign trading data and several liquidity measures. We employ vector autoregression with monthly gross foreign inflows, local stock market liquidity and returns over the period 2011-2018. We discover a one-way causality link from inflows to liquidity and that foreign investors promote rather than impede local liquidity. Our analysis therefore renders support to the recent policy by Capital Market Authority of Kenya that now allows foreign investors to acquire up to 100% of any stock listed at the Kenyan stock exchange market.
- Sprache
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Englisch
- Erschienen in
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Journal: Cogent Economics & Finance ; ISSN: 2332-2039 ; Volume: 8 ; Year: 2020 ; Issue: 1 ; Pages: 1-29 ; Abingdon: Taylor & Francis
- Klassifikation
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Wirtschaft
Asset Pricing; Trading Volume; Bond Interest Rates
General Financial Markets: Government Policy and Regulation
- Thema
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Foreign equity inflows
stock market liquidity
vector autoregression
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Ochenge, Rogers Ondiba
Ngugi, Rose W.
Muriu, Peter
- Ereignis
-
Veröffentlichung
- (wer)
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Taylor & Francis
- (wo)
-
Abingdon
- (wann)
-
2020
- DOI
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doi:10.1080/23322039.2020.1781503
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Ochenge, Rogers Ondiba
- Ngugi, Rose W.
- Muriu, Peter
- Taylor & Francis
Entstanden
- 2020
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