Arbeitspapier
African Stock Market Performance Dynamics: A Multidimensional Convergence Assessment
This paper dissects with great acuteness, the issues of convergence in financial performance dynamics in the African continent through the lenses of stock market capitalization, value traded, turnover and number of listed companies. The empirical evidence is premised on 11 homogenous panels based on regions (sub-Saharan and North Africa), income-levels (Low, Middle, Lower-middle and Upper-middle), legal-origins (English common-law and French civil-law) and religious dominations (Christianity and Islam). Findings provide partial support for the existence of absolute convergence in some dynamics. Only sub-Saharan Africa reveals conditional convergence in relation to per capita number of listed companies. The speed of convergence for the most part is between 12% and 28% per annum. As a policy implication, countries should work towards adopting common institutional and structural characteristics that favor stock market development.
- Sprache
-
Englisch
- Erschienen in
-
Series: AGDI Working Paper ; No. WP/12/004
- Klassifikation
-
Wirtschaft
International Finance: General
General Financial Markets: General (includes Measurement and Data)
Financial Institutions and Services: General
Economic Development: Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
Comparative Economic Systems: General
- Thema
-
Convergence
Stock markets
Panel
Africa
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Asongu, Simplice A.
- Ereignis
-
Veröffentlichung
- (wer)
-
African Governance and Development Institute (AGDI)
- (wo)
-
Yaoundé
- (wann)
-
2012
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:22 MESZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Asongu, Simplice A.
- African Governance and Development Institute (AGDI)
Entstanden
- 2012
Ähnliche Objekte (12)
African Development: Beyond Income Convergence
African Financial Development Dynamics: Big Time Convergence
Are Proposed African Monetary Unions Optimal Currency Areas? Real and Monetary Policy Convergence Analysis
Are Proposed African Monetary Unions Optimal Currency Areas? Real, Monetary and Fiscal Policy Convergence Analysis
Liberalization and financial sector competition: a critical contribution to the empirics with an African assessment
Growth and Institutions in African Development
Democracy and Stock Market Performance in African Countries
Real and Monetary Policy Convergence: EMU Crisis to the CFA Zone
The impact of mobile phone penetration on African inequality
Knowledge Economy and Financial Sector Competition in African Countries
Fighting African Capital Flight: Empirics on Benchmarking Policy Harmonization
Government Quality Determinants of Stock Market Performance in African Countries
African Development: Beyond Income Convergence
African Financial Development Dynamics: Big Time Convergence
Are Proposed African Monetary Unions Optimal Currency Areas? Real and Monetary Policy Convergence Analysis
Are Proposed African Monetary Unions Optimal Currency Areas? Real, Monetary and Fiscal Policy Convergence Analysis
Liberalization and financial sector competition: a critical contribution to the empirics with an African assessment
Growth and Institutions in African Development
Democracy and Stock Market Performance in African Countries
Real and Monetary Policy Convergence: EMU Crisis to the CFA Zone
The impact of mobile phone penetration on African inequality
Knowledge Economy and Financial Sector Competition in African Countries
Fighting African Capital Flight: Empirics on Benchmarking Policy Harmonization
Government Quality Determinants of Stock Market Performance in African Countries
African Development: Beyond Income Convergence
African Financial Development Dynamics: Big Time Convergence
Are Proposed African Monetary Unions Optimal Currency Areas? Real and Monetary Policy Convergence Analysis
Are Proposed African Monetary Unions Optimal Currency Areas? Real, Monetary and Fiscal Policy Convergence Analysis
Liberalization and financial sector competition: a critical contribution to the empirics with an African assessment
Growth and Institutions in African Development
Democracy and Stock Market Performance in African Countries
Real and Monetary Policy Convergence: EMU Crisis to the CFA Zone
The impact of mobile phone penetration on African inequality
Knowledge Economy and Financial Sector Competition in African Countries
Fighting African Capital Flight: Empirics on Benchmarking Policy Harmonization