Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/123518
Authors: 
Asongu, Simplice A.
Year of Publication: 
2011
Series/Report no.: 
AGDI Working Paper WP/11/003
Abstract: 
The recent waves of political crises in Africa and the Middle East have inspired the debate over how political instability could pose a risk of financial contagion to emerging countries. With retrospect to the Kenyan political crisis, our findings suggest stock markets in Lebanon, Mauritius were contaminated while Nigeria experienced a positive spillover. Our results have two major implications. Firstly, we have confirmed existing consensus that African financial markets are increasingly integrated. Secondly, we have also shown that international financial market transmissions not only occur during financial crisis; political crises effects should not be undermined.
Subjects: 
Political crisis
Contagion
Developing countries
Equity Markets
JEL: 
G10
G15
F30
Document Type: 
Working Paper

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