Abstract:Over the past years, countries have used private capital inflows to enhance and deepen the growth of their stock market. Using time-series data between 1981 to 2017, the study deployed the dynamic ordinary least square (DOLS) and Granger causality techniques to examine the effect of private capital inflows on stock market development and also the direction of causality. The study outcome revealed that FDI positively and significantly affects the development of stock market in the country. Besides, the study ou… Show more
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