Derivatives and Economic Growth in South Africa: Lessons for Kenya
| dc.contributor.advisor | Abraham, Haim | |
| dc.contributor.advisor | Mateane, Lebogang | |
| dc.contributor.author | Mulei, Mutava Michael | |
| dc.date.accessioned | 2020-02-12T13:06:13Z | |
| dc.date.available | 2020-02-12T13:06:13Z | |
| dc.date.issued | 2019 | |
| dc.date.updated | 2020-02-12T12:07:45Z | |
| dc.description.abstract | Kenya is now at advanced stages of introducing a derivatives market. Its aim is to enhance Kenya’s medium-term growth prospects as outlined in the capital markets master plan 2014- 2023. This study interrogates the effect of derivatives on economic growth and growth volatility, learning from the South African experience. The study also identifies some of the factors that drove South Africa’s implementation of derivatives as a development tool - Some countries have enacted legislation for it yet have never transitioned to successful operations. The study paints a picture of the current global and regional view of derivatives and examines empirical evidence from previous studies. Using a GMM approach, the study finds no significant relationship between trading derivatives and economic growth in South Africa. Thereafter, economic growth volatility is modelled using the GARCH method and the effects of derivatives on that volatility are tested. No effect is found. The study finds that the derivative market in South Africa is not yet sufficiently developed to benefit the economy. Finally, the relationship between economic development and derivatives is appraised using a Granger causality test: this suggests that development tends to engender the evolution of derivatives in the long run. | |
| dc.identifier.apacitation | Mulei, M. M. (2019). <i>Derivatives and Economic Growth in South Africa: Lessons for Kenya</i>. (). ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/31049 | en_ZA |
| dc.identifier.chicagocitation | Mulei, Mutava Michael. <i>"Derivatives and Economic Growth in South Africa: Lessons for Kenya."</i> ., ,Faculty of Commerce ,School of Economics, 2019. http://hdl.handle.net/11427/31049 | en_ZA |
| dc.identifier.citation | Mulei, M. 2019. Derivatives and Economic Growth in South Africa: Lessons for Kenya. | en_ZA |
| dc.identifier.ris | TY - Thesis / Dissertation AU - Mulei, Mutava Michael AB - Kenya is now at advanced stages of introducing a derivatives market. Its aim is to enhance Kenya’s medium-term growth prospects as outlined in the capital markets master plan 2014- 2023. This study interrogates the effect of derivatives on economic growth and growth volatility, learning from the South African experience. The study also identifies some of the factors that drove South Africa’s implementation of derivatives as a development tool - Some countries have enacted legislation for it yet have never transitioned to successful operations. The study paints a picture of the current global and regional view of derivatives and examines empirical evidence from previous studies. Using a GMM approach, the study finds no significant relationship between trading derivatives and economic growth in South Africa. Thereafter, economic growth volatility is modelled using the GARCH method and the effects of derivatives on that volatility are tested. No effect is found. The study finds that the derivative market in South Africa is not yet sufficiently developed to benefit the economy. Finally, the relationship between economic development and derivatives is appraised using a Granger causality test: this suggests that development tends to engender the evolution of derivatives in the long run. DA - 2019 DB - OpenUCT DP - University of Cape Town KW - Applied Economics LK - https://open.uct.ac.za PY - 2019 T1 - Derivatives and Economic Growth in South Africa: Lessons for Kenya TI - Derivatives and Economic Growth in South Africa: Lessons for Kenya UR - http://hdl.handle.net/11427/31049 ER - | en_ZA |
| dc.identifier.uri | http://hdl.handle.net/11427/31049 | |
| dc.identifier.vancouvercitation | Mulei MM. Derivatives and Economic Growth in South Africa: Lessons for Kenya. []. ,Faculty of Commerce ,School of Economics, 2019 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/31049 | en_ZA |
| dc.language.rfc3066 | eng | |
| dc.publisher.department | School of Economics | |
| dc.publisher.faculty | Faculty of Commerce | |
| dc.subject | Applied Economics | |
| dc.title | Derivatives and Economic Growth in South Africa: Lessons for Kenya | |
| dc.type | Master Thesis | |
| dc.type.qualificationlevel | Masters | |
| dc.type.qualificationname | MCom |