Essay on stock markets in Sub-saharan Africa
Abstract
The main objective of this thesis was to closely examine several nancial and economic aspects
of the stock markets in Sub-Saharan Africa. Thus, the objectives of this thesis were to explore
the interdependence, the time-varying conditional correlation and the volatility linkages among
Sub-Saharan African and developed stock markets; to investigate the relationship between -
nancial liberalization and the development of stock markets; and to examine the patterns of the
aggregate market liquidity and the relevance of the mainstream determinants of market liquidity
in the chosen Sub-Saharan African stock markets.