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African stock markets convergence: Regional and global analysis

Gideon Boako and Paul Alagidede ()

Finance Research Letters, 2016, vol. 18, issue C, 317-321

Abstract: This letter examines the convergence of Africa's equity markets within the income convergence thesis. The results indicate partial deterministic convergence of Africa's equity markets both globally and regionally. The findings contribute to extant literature by addressing the puzzle on whether or not emerging equity markets should still be considered as a separate asset class or a unit bucket of assets with those in the developed world.

Keywords: African stock markets; Convergence; Regional and global integration (search for similar items in EconPapers)
JEL-codes: G10 G11 G15 (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:18:y:2016:i:c:p:317-321

DOI: 10.1016/j.frl.2016.05.007

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