Integration, growth and contagion in African equity markets

During the 1990s, many African policymakers liberalised their capital accounts and opened equity markets to foreign investment. The motivation behind these liberalisations was to obtain the promised benefits of increased liquidity and market participation. In the same decade, however, African markets witnessed their more mature emerging market counterparts suffering the consequences of crisis and contagion. In light of this, policymakers are now concerned about how best to approach future capital account policy. Should they actively proceed to encourage foreign investment, for instance by listing a country fund? Alternatively, should liberalisations be revoked and foreign investment prohibited? Or is the best option to wait and see? In response to these questions, this thesis presents an investigation into integration, growth and contagion in African equity markets.

Grantor dc:publisher.institution

School of Management Studies

Year dc:date.issued

2003

Author dc:creator

• Abrahamson, Mark

Advisor dc:contributor.advisor

• Collins, Daryl

Language dc:language.iso

eng

Handle dc:identifier.uri

http://hdl.handle.net/11427/9029

OAI identifier oai:identifier

oai:open.uct.ac.za:11427/9029