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Stock market development, human capital, and economic growth in sub-Saharan Africa

John Kagochi & Nazif Durmaz

Review of Development Finance2020article
AJG 2
Weight
0.42

What the paper says

The study examines the relationship between stock market development, human capital development, and economic growth for nine Sub-Saharan Africa using a dynamic panel (system GMM) data model technique. The study employs stock market and banking sector development as measures of financial sector development. We also use the Human Capital Index based on the average years of schooling and an assumed rate of return to education. Our findings indicate that human capital leads to economic growth while stock market development does not influence economic growth, perhaps due to the relative underdevelopment of these markets or economic stagnation of the region.

5 citations

Cite this paper

@article{john2020,
  title        = {{Stock market development, human capital, and economic growth in sub-Saharan Africa}},
  author       = {John Kagochi & Nazif Durmaz},
  journal      = {Review of Development Finance},
  year         = {2020},
}

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Stock market development, human capital, and economic growth in sub-Saharan Africa

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Evidence weight

0.42

Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40

F · citation impact0.18 × 0.4 = 0.07
M · momentum0.80 × 0.15 = 0.12
V · venue signal0.50 × 0.05 = 0.03
R · text relevance †0.50 × 0.4 = 0.20

† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.