Logo Lanfrica
  • Accueil
  • Atlas
  • Analyses
  • Documentation
  • Sign in

© 2026 Lanfrica. Tous droits réservés. Tous les droits d'auteur des ressources affichées sur le site Web Lanfrica appartiennent aux détenteurs de droits d'auteur d'origine, sauf indication contraire explicite.

Do Economic Policy Decisions affect Stock Market Development in Ghana?

Domaine:

socioeconomic

Type de record:

paper
Créateur:
OfoAmpSak
Éditeur:
Aca
Hôte:avatar
Abstract   The Efficient Market Hypothesis proposes that macroeconomic policy actions do not influence stock market development but the Tobin’s q theory argues otherwise. This paper uses the autoregressive distributed lag (ARDL) technique to investigate the impact of macroeconomic policy on the development of the Ghana Stock Exchange for the period 1991-2011. The paper finds government revenue and exchange rate reduce stock market development. A policy mix identified was that, the outcomes of government expenditure and government borrowing interest rate exert no influence on stock market development. For equity investors not to easily transfer their investments in response to changes in macroeconomic policies among others, the study recommends good macroeconomic management.   Keywords: Stock Market Development, Macroeconomic policy, Government spending, ADRL, Ghana, West Africa

Visit

doi.orggresis.osc.int

Tags

Social Sciences

Licenses

Creative Commons Attribution 4.0 Internationalhttps://creativecommons.org/licenses/by/4.0/legalcode

Similaires

Do Stock Market Volatility and Cybercrime Affect Cryptocurrency Returns? Evidence from South African EconomyCorrelates of Stock Market Development and Economic Growth: A Confirmatory Study from GhanaMacroeconomic Determinants of Stock Market Development in GhanaStock market development and economic growth: Evidence from MauritiusDO PRIVATE BANKS AFFECT ETHIOPIA'S ECONOMIC GROWTH?Behavioral Finance and Investors’ Stock Investments Decisions in West Africa: Evidence from the Nigerian Stock Market

Do Stock Market Volatility and Cybercrime Affect Cryptocurrency Returns? Evidence from South African Economy

The study investigates the effects of stock market volatility and cybercrime on cryptocurrency retur

Correlates of Stock Market Development and Economic Growth: A Confirmatory Study from Ghana

The study confirms the debate on whether stock market development correlates to economic growth. The

Macroeconomic Determinants of Stock Market Development in Ghana

Financial systems have been found to have a positive influence on the economic development of most c

Stock market development and economic growth: Evidence from Mauritius

In the recent past, with the phenomenal growth of equity markets, a burgeoning number of policy make

DO PRIVATE BANKS AFFECT ETHIOPIA'S ECONOMIC GROWTH?

Introduction: Major activities of private sector banks promote changes in a country's economic progr

Behavioral Finance and Investors’ Stock Investments Decisions in West Africa: Evidence from the Nigerian Stock Market

This study titled “Behavioral Finance and Investors’ Stock Investments Decisions in West Africa: Evi