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Financial crisis and African stock market integration

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  • Z. Wang
  • J. Yang
  • D. A. Bessler

Abstract

This article examines long-run relationships and short-run dynamic causal linkages among the five largest emerging African stock markets and the US market, with particular attention to the 1997-1998 global emerging market crisis. In general, interdependence between the African markets and the influence of the US on these markets was limited during 1996-2002. There is evidence that both long-run relationships and short-run causal linkages between these markets were substantially weakened after the crisis.

Suggested Citation

  • Z. Wang & J. Yang & D. A. Bessler, 2003. "Financial crisis and African stock market integration," Applied Economics Letters, Taylor & Francis Journals, vol. 10(9), pages 527-533.
    • Handle: RePEc:taf:apeclt:v:10:y:2003:i:9:p:527-533
    DOI: 10.1080/1350485032000100198
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