International Stock Market Linkages in Southern Africa
"This paper investigates the extent of linkages between three stock markets in Southern Africa. Specifically Botswana, Zimbabwe and South Africa. What is further also considered is the extent to which these markets are related to emerging markets more generally and to the larger international markets. The study also reviews the efficiency of individual markets, at both market index and individual stock levels. Finally, it also examines the extent to which stock prices in these markets are related to economic fundamentals."