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

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

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

Year 2016, Volume: 6 Issue: 2, 786 - 792, 01.04.2016

Wakilat Olabisi Balogun Jauhari B. Dahalan Sallahuddin B. Hassan

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.

Year 2016, Volume: 6 Issue: 2, 786 - 792, 01.04.2016

Wakilat Olabisi Balogun Jauhari B. Dahalan Sallahuddin B. Hassan

Abstract

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Details

Other ID	JA55AJ78YY
Journal Section	Research Article
Authors	Wakilat Olabisi Balogun This is me Jauhari B. Dahalan This is me Sallahuddin B. Hassan This is me
Publication Date	April 1, 2016
Published in Issue	Year 2016 Volume: 6 Issue: 2

Cite

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.
AMA	Balogun WO, Dahalan JB, Hassan SB. Interest Rate Liberalization, Quality institutions and Stock Market Development in Selected Sub-Saharan African Countries. IJEFI. April 2016;6(2):786-792.
Chicago	Balogun, Wakilat Olabisi, Jauhari B. Dahalan, and Sallahuddin B. Hassan. “Interest Rate Liberalization, Quality Institutions and Stock Market Development in Selected Sub-Saharan African Countries”. International Journal of Economics and Financial Issues 6, no. 2 (April 2016): 786-92.
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	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, 2016.
ISNAD	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 6/2 (April 2016), 786-792.
JAMA	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, 2016, pp. 786-92.
Vancouver	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):786-92.