International Stock Market Linkages
"In this paper, the extent of linkages among three stock markets in Southern Africa, specifically Botswana, Zimbabwe and South Africa are investigated. The extent is considered 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 examines the extent to which stock prices in these markets are related to economic fundamentals."