4.7 Article

Financial contagion effects of major crises in African stock markets

Journal

Publisher

ELSEVIER SCIENCE INC
DOI: 10.1016/j.irfa.2022.102128

Keywords

Financial crisis; Contagion effect; African stock markets

Ask authors/readers for more resources

This study examines financial contagion effects in African stock markets during major crises from 2005 to 2020. The findings indicate that contagion effects exist in some individual markets, but significant regional contagion evidence is found only during the global financial crisis.
This study examines financial contagion effects in African stock markets during major crises over the period 2005 to 2020. We investigate contagion effects in individual stock markets and from a regional perspective using dynamic conditional correlations during the global financial crisis, European debt crisis, Brexit, and COVID-19. The empirical evidence confirms contagion effects in some individual markets. However, significant evidence of contagion is found only during the global financial crisis from the regional perspective. Our findings suggest that the regional impacts of crises differ due to the nature of those crises. We also find financial contagion increases in the country-level risk, market capitalization and export to GDP and decreases in corruption

Authors

I am an author on this paper
Click your name to claim this paper and add it to your profile.

Reviews

Primary Rating

4.7
Not enough ratings

Secondary Ratings

Novelty
-
Significance
-
Scientific rigor
-
Rate this paper

Recommended

No Data Available
No Data Available