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

Adam, Anokye M. and Tweneboah, George (2008): Foreign Direct Investment and Stock market Development: Ghana’s Evidence. Forthcoming in: International Research Journal of Finance and Economics , Vol. 1, No. 27 (May 2009)

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.

• Item Type: MPRA Paper
• Language: English
• Subjects: F - International Economics > F2 - International Factor Movements and International Business > F20 - General; C - Mathematical and Quantitative Methods > C5 - Econometric Modeling > C50 - General; A - General Economics and Teaching > A1 - General Economics > A11 - Role of Economics ; Role of Economists ; Market for Economists

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