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Foreign Direct Investment and Stock Market Development: Ghana's Evidence


Anokye M. Adam


University of Cape Coast - School of Business

George Tweneboah


University of Leicester - School of Management

International Research Journal of Finance and Economics, Vol. 26, pp. 178-185, 2009

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

Number of Pages in PDF File: 12

Keywords: Stock Market Development, Foreign Direct Investment and Market Capitalization

JEL Classification: C50, F20, G20

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Date posted: October 26, 2008 ; Last revised: April 7, 2009

Suggested Citation

Adam, Anokye M. and Tweneboah, George, Foreign Direct Investment and Stock Market Development: Ghana's Evidence. International Research Journal of Finance and Economics, Vol. 26, pp. 178-185, 2009. Available at SSRN: http://ssrn.com/abstract=1289843

Contact Information

Anokye M. Adam (Contact Author)
University of Cape Coast - School of Business ( email )
Cape coast
Ghana
George Tweneboah
University of Leicester - School of Management ( email )
United Kingdom
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