Measuring the Real and Financial Connectedness of Selected African Economies with the Global Economy
We examine the real and financial connectedness of selected African economies with the global economy using a network approach. We find that the connectedness of African economies with the global economy is quite sizable, with the global financial crisis increasing the connectedness measures above t...
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| Veröffentlicht in: | The South African Journal of economics 2016-09, Vol.84 (3), p.364-399 |
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| container_end_page | 399 |
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| container_issue | 3 |
| container_start_page | 364 |
| container_title | The South African Journal of economics |
| container_volume | 84 |
| creator | Ogbuabor, Jonathan E. Orji, Anthony Aneke, Gladys C. Erdene-Urnukh, Oyun |
| description | We examine the real and financial connectedness of selected African economies with the global economy using a network approach. We find that the connectedness of African economies with the global economy is quite sizable, with the global financial crisis increasing the connectedness measures above their pre‐crisis levels. The results show that U.S., EU and Canada dominate Africa's equity markets, while China, India and Japan dominate Africa's real activities. Our results suggest that African economies are predominantly small open economies, deeply interconnected but systemically unimportant and vulnerable to headwinds emanating from the dominant economies in the overall global economy. |
| doi_str_mv | 10.1111/saje.12135 |
| format | Article |
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| ispartof | The South African Journal of economics, 2016-09, Vol.84 (3), p.364-399 |
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| language | eng |
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| source | PAIS Index; Access via Wiley Online Library |
| subjects | Africa African economies C32 C53 Connectedness Economic activity Economic crisis Equity F02 F36 Global economy global financial crisis International finance Markets N27 network approach Networks Securities markets Social networks Studies vector autoregressive (VAR) model World economy |
| title | Measuring the Real and Financial Connectedness of Selected African Economies with the Global Economy |
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