Browsing by Author "Collins, Daryl"

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    Channels of financial contagion
    (2004) Gavron, Shãna V; Collins, Daryl
    The current contagion literature does not definitely conclude which channels of financial contagion are the most significant in transmitting crises between countries. This paper sets out to fill this gap empirically by determining which contagion channels significantly increase the probability of an incidence of contagion between stock markets. The paper initially establishes the occurrence of contagion across 42 countries during nine economic and/or financial events. It identifies potential channels and classifies them either as channels that spread contagion via weak economic fundamentals, as channels that spread contagion via economic and/or financial links or as channels that spread contagion via investor behaviour.
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    Integration, growth and contagion in African equity markets
    (2003) Abrahamson, Mark; Collins, Daryl
    During the 1990s, many African policymakers liberalised their capital accounts and opened equity markets to foreign investment. The motivation behind these liberalisations was to obtain the promised benefits of increased liquidity and market participation. In the same decade, however, African markets witnessed their more mature emerging market counterparts suffering the consequences of crisis and contagion. In light of this, policymakers are now concerned about how best to approach future capital account policy. Should they actively proceed to encourage foreign investment, for instance by listing a country fund? Alternatively, should liberalisations be revoked and foreign investment prohibited? Or is the best option to wait and see? In response to these questions, this thesis presents an investigation into integration, growth and contagion in African equity markets.