Dòng vốn tư nhân và giao diện thị trường chứng khoán ở châu Phi cận Sahara

International Review of Economics - Tập 65 - Trang 507-538 - 2018
Samson Edo1
1Department of Economics, University of Benin, Benin City, Nigeria

Tóm tắt

Trường phái tư tưởng thị trường tài chính cho rằng thị trường tài chính đóng một vai trò quan trọng trong việc tạo điều kiện thuận lợi cho dòng vốn đến các quốc gia kém phát triển. Trường phái này xem thị trường chứng khoán là một kênh mạnh mẽ và có khả năng thu hút và huy động vốn cho sự phát triển trên toàn cầu. Do đó, nghiên cứu trong bài báo này được thực hiện nhằm xác định tính hợp lệ của lập luận này, bằng cách điều tra cách mà thị trường chứng khoán tương tác với các biến số khác để ảnh hưởng đến dòng vốn đầu tư vào khu vực châu Phi cận Sahara. Bằng chứng thực nghiệm rõ ràng xác nhận tầm quan trọng của thị trường chứng khoán bằng cách chỉ ra tác động tích cực trực tiếp của nó đến tất cả các thành phần của vốn tư nhân nhập khẩu, một tác động mà được gia tăng đáng kể bởi lợi tức đầu tư trên thị trường. Thị trường chứng khoán cũng cho thấy có một ngưỡng tối đa mà cho thấy khả năng của nó trong việc chuyển hướng một tỷ lệ đáng kể của dòng vốn tiềm năng. Những phát hiện này chỉ ra tầm quan trọng của việc nâng cao mức độ phát triển của thị trường chứng khoán nhằm thu hút nhiều nguồn vốn hơn đến khu vực, và thực sự là đến các khu vực kém phát triển hơn trên thế giới.

Từ khóa

#dòng vốn tư nhân #thị trường chứng khoán #châu Phi cận Sahara #phát triển #đầu tư

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