Foreign Direct Investment (FDI) and Stock market Development: Ghana Evidence

Anokye M. Adam and George Tweneboah
Authors registered in the RePEc Author Service: Anokye M. Adam and Anokye M. Adam

MPRA Paper from University Library of Munich, Germany

Abstract: Using multivariate cointegration and Innovation Accounting Methods, this paper examines the impact of Foreign Direct Investment (FDI) on stock market development in Ghana. The paper finds long-run relationship between FDI and stock market development in Ghana. Using impulse responses and Variance Decomposition from Vector Error Correction Model we find that shocks in FDI significantly influence the development of stock market in Ghana

Keywords: Stock Market Development; Foreign Direct Investment and Market Capitalization (search for similar items in EconPapers)
JEL-codes: F20 C50 G20 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-afr and nep-cfn
Date: 2008-10
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Persistent link: http://EconPapers.repec.org/RePEc:pra:mprapa:11261

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