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Asset Price Developments in an Emerging Stock Market : The Case of Mauritius

"The Stock Exchange of Mauritius (SEM) has been in operation for more than 15 years. As at December 2004, there were 40 companies listed on the official market. The main objectives of this study were to analyse the risk return characteristics of all…

BIDPA Briefing 2nd Quarter 2001

In this BIDPA Briefing the Botswana inflation rate is analyzed. It has persistently remained below South African core inflation since the latter part of 2000. This trend could partly be explained by the reduction in domestic inflationary pressures a…

Bridging the Divide: Integrating SADC's Capital Markets

The Finance and Investment Protocol encourages SADC members to pursue the crossmarket integration of their exchanges. As a result, in the 1990s SADC members collectively embarked on various initiatives to improve coordination and integration in the …

Nigeria Economic Update Issue 11

This short article discusses the following issues. Firstly, it talks about the crude oil price and the crude oil market, OPEC’s weekly basket price increase by 1.07 % from $29.02 per barrel in February 19 to $29.33 per barrel in February 26. A comb…

Nigeria Economic Update Issue 29

This economic update informs about the following matters relating to the Nigerian Economy. The first article is about the Purchasing Managers Index (PMI) which measures business performance and briefly discusses the decline in both the Manufacturing…

Recovery in the Manufacturing Sector Improves the Business Climate; but Future Outlook Remains Downcast

The Business Climate Index (BCI) slightly improved from 100.3 in the previous quarter (April-June 2019) to 100.8 in the current quarter (July-September 2019). The slight improvement was largely driven by improvement in business perceptions in the ma…

COVID-19 Implications on Private Investment and Markets in East Africa

Coronavirus disease (COVID-19), which started in China at the end of 2019, has spread across the world at an increasing rate. The disease gained recognition in the rest of the World in March 2020 and no continent has escaped the virus. As of 30th Ma…

COVID-19 Implications on Private Investment and Markets in East Africa: A Rapid Assessment

The COVID-19 pandemic coupled with government measures to contain it, has affected many economies and exposed the level of economic vulnerabilities across countries. This study uses macro- and firm-level data to examine the implications of COVID-19 …

Impact of Investment Efficiency, Investment Scale and Financial Flexibility on Risk-Taking Behaviour in an Emerging Market

There is limited number of studies that explore the concepts of investment efficiency, financial flexibility, and investment scale globally. Moreover, in the African context, these areas continue to be grey areas with limited knowledge on the effect…

Determinants of Dividend Policy of Manufacturing Firms in Nigeria

The study set out to identify the determinants of dividend policy of firms in Nigeria from 1984 to 2020. Using the modified Lintner model as the theoretical framework, we analyze data on listed Nigerian manufacturing firms for 1,101 firm-years from …

Do Gold and Crude Oil Act as Portfolio Diversifiers, Safe Haven Assets or Hedge Instruments Against Volatility in Stock Markets and Exchange Rates? Evidence from Sub-Saharan Africa

This paper examines whether gold and crude oil are used as diversifying, hedging or as safe haven assets against stock markets and exchange rate volatility in selected African countries. We use daily data for South Africa, Kenya and Nigeria from 4th…

Can Corporate Financing Through the Stock Market Create Systemic Risk? Evidence from the BRVM Securities Market

This paper aims to analyse the systemic risk in the regional BRVM (Bourse Régionale des Valeurs Mobilières) stock exchange in West Africa. This stock market, shared by 8 francophone West Africa countries, has grown over the last decade and is now a …

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