Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries

Wakilat Olabisi Balogun; Jauhari B. Dahalan; Sallahuddin B. Hassan

EN

Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries

Abstract

The paper examines the long run effects of interest rate liberalization and institutional quality on the development of stock market in seven selected sub-Saharan African countries using panel dataset that spans 1990 to 2013. The study employs dynamic heterogeneous panel method using the technique of Pooled Mean Group (PMG). The results reveal that on the average liberalizing the interest rates has a negative long run impact on the development of the stock markets in the seven selected SSA economies. Institutional quality on the other hand has significant positive relationship with the development of stock market. The policy recommendation as a result of this finding is that liberalization of interest rates in the SSA region should be a guided one.

Keywords

Interest rate, institutional quality, stock market development.

Details

Primary Language

English

Subjects

-

Journal Section

-

Authors

Wakilat Olabisi Balogun This is me

Jauhari B. Dahalan This is me

Sallahuddin B. Hassan This is me

Publication Date

April 1, 2016

Submission Date

April 1, 2016

Acceptance Date

-

Published in Issue

Year 2016 Volume: 6 Number: 2

IZ

https://izlik.org/JA65YP68ZW

Cite

RIS / Bibtex

APA

Balogun, W. O., Dahalan, J. B., & Hassan, S. B. (2016). Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries. International Journal of Economics and Financial Issues, 6(2), 786-792. https://izlik.org/JA65YP68ZW

AMA

1.Balogun WO, Dahalan JB, Hassan SB. Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries. IJEFI. 2016;6(2):786-792. https://izlik.org/JA65YP68ZW

Chicago

Balogun, Wakilat Olabisi, Jauhari B. Dahalan, and Sallahuddin B. Hassan. 2016. “Interest Rate Liberalization, Quality Institutions and Stock Market Development in Selected Sub-Saharan African Countries”. International Journal of Economics and Financial Issues 6 (2): 786-92. https://izlik.org/JA65YP68ZW.

EndNote

Balogun WO, Dahalan JB, Hassan SB (April 1, 2016) Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries. International Journal of Economics and Financial Issues 6 2 786–792.

IEEE

[1]W. O. Balogun, J. B. Dahalan, and S. B. Hassan, “Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries”, IJEFI, vol. 6, no. 2, pp. 786–792, Apr. 2016, [Online]. Available: https://izlik.org/JA65YP68ZW

ISNAD

Balogun, Wakilat Olabisi - Dahalan, Jauhari B. - Hassan, Sallahuddin B. “Interest Rate Liberalization, Quality Institutions and Stock Market Development in Selected Sub-Saharan African Countries”. International Journal of Economics and Financial Issues 6/2 (April 1, 2016): 786-792. https://izlik.org/JA65YP68ZW.

JAMA

1.Balogun WO, Dahalan JB, Hassan SB. Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries. IJEFI. 2016;6:786–792.

MLA

Balogun, Wakilat Olabisi, et al. “Interest Rate Liberalization, Quality Institutions and Stock Market Development in Selected Sub-Saharan African Countries”. International Journal of Economics and Financial Issues, vol. 6, no. 2, Apr. 2016, pp. 786-92, https://izlik.org/JA65YP68ZW.

Vancouver

1.Wakilat Olabisi Balogun, Jauhari B. Dahalan, Sallahuddin B. Hassan. Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries. IJEFI [Internet]. 2016 Apr. 1;6(2):786-92. Available from: https://izlik.org/JA65YP68ZW