Bekale, Audrey Nguema (2014) Institutionalization of Derivatives Trading and Economic Growth: Evidence from South Africa. Masters thesis, University of South Africa.
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Abstract
Given ongoing advocacy for the institutionalisation of derivatives trading in sub-Saharan Africa (SSA) as a convenient way for enhancing regional countries’ growth prospects, this study examines the impact of derivatives trading on the economy of South Africa, with reference to output growth and growth volatility, in order to illustrate the likely developmental impact that derivatives markets could ensue for SSA countries. The literature of the study essentially explores the possible ways of derivatives markets’ influence on economic growth, alongside the infrastructural requirements for ensuring well-functioning derivatives markets. While accounting for implied capital market development, the GMM estimation could not evidence a significant relationship between the existing derivatives exchange and real GDP growth using South Africa’s data. Similarly, a causal relationship from SAFEX’s trading volumes to GDP growth could not be inferred. However, the study showsevidence of the reducing effect of derivatives trading on growth volatility.
| Item Type: | Thesis (Masters) |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory H Social Sciences > HG Finance |
| Divisions: | Africana |
| Depositing User: | Martin Lucas Mkoba |
| Date Deposited: | 25 Jul 2016 08:40 |
| Last Modified: | 25 Jul 2016 08:52 |
| URI: | http://thesisbank.jhia.ac.ke/id/eprint/839 |
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