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Research Paper | Economics | China | Volume 5 Issue 10, October 2016
Analysis of Interest Rate and Stock Price in Africa: Case Study of Ghanaian Listed Firms
Bridget Opoku-Agyemang, Grace Ofori-Abebrese, Benjamin Korankye
In this study, we investigate the impact of interest rate on stock prices in Ghana by employing OLS model with monthly data spanning from January, 2000 to September, 2010. To prove our concept, we used Granger causality to test the direction and the causality between interest rate and stock prices in the context of Ghana. The test results show that there is unidirectional causality between interest rate and stock price. This means that changes in the stock price explains the variations in the interest rate. The empirical results indicated that interest rate definitely has negative effect on stock price in Ghana. The outcome also indicated unidirectional causality between interest rate and stock price.
Keywords: inflation, interest rate, stock price, Ghana stock market
Edition: Volume 5 Issue 10, October 2016
Pages: 1582 - 1587
How to Cite this Article?
Bridget Opoku-Agyemang, Grace Ofori-Abebrese, Benjamin Korankye, "Analysis of Interest Rate and Stock Price in Africa: Case Study of Ghanaian Listed Firms", International Journal of Science and Research (IJSR), https://www.ijsr.net/search_index_results_paperid.php?id=ART20162487, Volume 5 Issue 10, October 2016, 1582 - 1587
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