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Handbook of Frontier Markets

Name: Handbook of Frontier Markets
ISBN: 9780128038406

by Panagiotis Andrikopoulos, Greg N. Gregoriou, Vasileios Kallinterakis

August 2016

Intermediate to advanced

304 pages

10h 8m

English

Academic Press

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Cover
Title page
Table of Contents
Copyright
List of Contributors
About the Editors
About the Contributors
Acknowledgment
Section A: Africa
Chapter 1: Testing for the Weak-Form Market Efficiency of the Dar es Salaam Stock Exchange
Abstract1. Introduction2. The Random Walk Theory and the Efficient Market Hypothesis3. Empirical Literature Review on Weak-Form Market Efficiency4. Data Sources5. Methodology6. Analyses and Presentation of the Results7. Conclusions and Recommendations

Chapter 2: Stock Returns and Inflation: The Case of Botswana
Abstract1. Introduction2. Literature Review3. Overview of the Economy of Botswana4. Data and Methodology5. Results6. Conclusions
Chapter 3: Modeling and Forecasting Stock Market Volatility in Frontier Markets: Evidence From Four European and Four African Frontier Markets
Abstract1. Introduction2. Background Information3. Data4. Methodology5. Findings and Discussions6. Conclusions and Further Research
Chapter 4: Herd Behavior in Frontier Markets: Evidence from Nigeria and Morocco
Abstract1. Introduction2. Methodology and Data3. Empirical Results4. Conclusions
Chapter 5: Effects of Interest Rates and Exchange Rates on Bank Stock Returns
Abstract1. Introduction2. Conclusions
Chapter 6: Financial Contagion From US to African Frontier Markets During the 2007–09 Global Financial Crisis
Abstract1. Introduction, Aims, and Literature2. Data and Descriptive Statistics3. Hypotheses and Methodology4. Results5. Discussions6. ConclusionsAppendix 1: Time-Varying Correlations of US with African MarketsAppendix 2: Time-Varying Correlations of US with Developed Markets
Section B: Europe
Chapter 7: An Assessment of the Real Development Prospects of the EU 28 Frontier Equity Markets
Abstract1. Introduction2. A Comparative Analysis of the EU 10 Frontier Markets3. Hypothesis, Data, and Research Results4. Discussions and Conclusions
Chapter 8: Are European Frontier Markets Efficient?
Abstract1. Introduction2. The Theory of Informational Market Efficiency3. The Empirical Literature on Frontier Markets and Informational Efficiency4. Methodology5. Overview of Eastern European Markets and Sample Selection6. Results7. Conclusions and Recommendations
Chapter 9: Another Look at Financial Analysts’ Forecasts Accuracy: Recent Evidence From Eastern European Frontier Markets
Abstract1. Introduction2. Conceptual Framework3. Data and Methodology4. Analysis of FAF on Eastern European Frontier Markets5. Conclusions
Chapter 10: Are There Herding Patterns in the European Frontier Markets?
Abstract1. Introduction2. Database3. Methodology4. Empirical Results5. ConclusionsAcknowledgment
Section C: Asia
Chapter 11: Is Bankruptcy a Systematic Risk? Evidence From Vietnam
Abstract1. Introduction2. Literature Review3. Research Design, Data, and Methodology4. Results of Analysis and Discussion of Findings5. Conclusions and Recommendations
Chapter 12: Investors’ Herding in Frontier Markets: Evidence From Mongolia
Abstract1. Introduction2. Mongolian Stock Exchange: A Brief Overview3. Data and Methodology4. Results and Conclusion
Chapter 13: Structural Breaks, Efficiency, and Volatility: An Empirical Investigation of Southeast Asian Frontier Markets
Abstract1. Introduction2. Literature Review3. Data and Methodology4. Empirical Results5. Conclusions
Index

Content preview from Handbook of Frontier Markets

Chapter 2

Stock Returns and Inflation: The Case of Botswana

K. Gavriilidis^*

L.M. Kgari^**^* University of Stirling Management School, Stirling, Scotland, United Kingdom^** Bank of Botswana, Finance Department, Gaborone, Botswana

Abstract

This study examines the relationship between stock market returns and inflation in Botswana over the period 1998–2013. Theory suggests that stock returns should be positively related to inflation in order to compensate investors for the loss of their purchasing power. However, our study finds no evidence of a statistically significant relationship between stock market returns and inflation. In addition, we find no evidence of a long-run relationship between stock market returns and inflation.

Keywords

stock ...

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