Why a diversified portfolio should include African assets

Imhotep Alagidede (), Theodore Panagiotidis and Xu Zhang

Applied Economics Letters, 2011, vol. 18, issue 14, 1333-1340

Abstract: We employ parametric and nonparametric cointegration approaches to investigate the extent of integration between African stock markets and the rest of the world. Long-run correlation estimates imply very low association between these two. The two distinct cointegration approaches confirm the latter through recursive estimation. The implication is that global markets have little impact on African stock markets. However, including African assets in a mean-variance portfolio would be beneficial to international investors.

Date: 2011
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Related works:
Working Paper: Why a Diversified Portfolio Should Include African Assets (2010)
Working Paper: Why a Diversified Portfolio Should Include African Assets (2010)
Working Paper: Why a diversified portfolio should include African assets (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:18:y:2011:i:14:p:1333-1340

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DOI: 10.1080/13504851.2010.537617

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