Maturity of Real Estate Markets in Sub-Saharan Africa: A Comparison between Tanzania and South Africa

Rothacher, Nora; Ogunba, Olusegun Adebayo; Dugeri, Terzungwe Timothy

doi:10.15396/afres2011_113

Cited by 1 publication

(1 citation statement)

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“…Removal of investors funds from the capital market consequently affect the size of the market with a decrease in the prices of stock in Nigeria. In addition, the real estate growth rates of 33%, 21%, and 31% were recorded for Nigeria, Ghana, and Tanzania respectively in 2007 but fell to -25%, -11%, and 3% in 2009 for the same countries as a result of the global financial crisis (Rothacher, 2015).…”

Section: Introductionmentioning

confidence: 99%

Asymmetric Macroeconomic Shocks and Asset Price Behaviors in Selected African Countries

Olanrewaju¹,

Oladipo²

2021

BER

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This study examines the relationship between Asset prices (Stock and Real estate prices) and Macroeconomic variables in four selected African countries. The study employs the Westerlund Error Correction Based Panel Cointegration test and Eight-variable Structural Vector Autoregressive model to examine the relationship between asset prices and macroeconomic variables. Findings from the study confirm that no long-run relationship exists between both Asset prices and macroeconomic variables. The study equally reveals that portfolio diversification benefits of both stock and real estate markets are more pronounced in the period of a boom than the recession period in Africa. The results also show that GDP growth rate shock exerts a significant impact on both asset prices during expansion and recession periods. The study reveals that foreign interest rates and World oil price shocks are better predictors of both stock and real estate prices during the crisis period than in the expansion period.

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Section: Introductionmentioning

confidence: 99%