A regional analysis of institutional framework on capital market behaviour: evidence from Selected African Countries
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Authors
Aregbeshola, Rafiu Adewale
Issue Date
2019
Type
Article
Language
en
Keywords
Regional Analysis , Institutional Framework , Capital Market Behaviour , African Countries
Alternative Title
Abstract
The strategic importance of capital market development in contemporary economic structures cannot be overemphasized. Various documented studies have buttressed the quintessential indispensability of a developed domestic capital market as a springboard from which real national economic growth can be launched. While a host of those studies are focused on developed economies, quite a few others investigate the institutions-capital market performance analysis in developing economies. However, documented studies that investigate regional dynamics (especially in Africa) are rare. Using data generated from various sources from 1980 to 2016 in a series of estimations, this study re-modelled the institutional-capital market development linkage model in Africa. Empirical findings established the role of institutional adequacy, most especially general public management, in the development of capital in Africa, of which the role of efficient macroeconomic management is noteworthy, to capital market efficiency in Africa
Description
Citation
Aregbeshola, Adewale R. 2019. A regional analysis of institutional framework on capital market behaviour: evidence from Selected African Countries. Nigerial Journal of Economic and Social Studies, volume 61, No. 2, 231-258
Publisher
Nigerian Economic Society Nigerian Journal of Economic and Social Studies, Volume 61, No. 2, 2019
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Journal
Volume
Issue
PubMed ID
DOI
ISSN
0029-0092