Foreign Direct Investment and Stock market Development: Ghana’s Evidence

Anokye M. Adam and George Tweneboah ()

MPRA Paper from University Library of Munich, Germany

Abstract: Using multivariate cointegration and error correction model, this paper examines the impact of Foreign Direct Investment (FDI) on the stock market development in Ghana. Our results indicate that there exists a long-run relationship between FDI, nominal exchange rate and stock market development in Ghana. We find that a shock to FDI significantly influence the development of stock market in Ghana.

Keywords: Foreign; Direct; Investment; and; Stock; market; Development:; Ghana’s; Evidence (search for similar items in EconPapers)
JEL-codes: F20 C50 A11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-afr
Date: 2008, Revised 2008
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