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

Adam, Anokye M. and Tweneboah, George (2008): Foreign Direct Investment (FDI) and Stock market Development: Ghana Evidence.

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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

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