Global commodity and equity markets spillovers to Africa during the COVID-19 pandemic

Journal article (2022)

Authors

Christian Urom Paris School of Business
G.O. Ndubuisi UNU-MERIT, German Institute for Development and sustainability, Economics of Technology and Innovation - TPM
Gaye Del Loe Sorbonne Université, Paris
Denis Yuni National University of Lesotho
Research Group
Economics of Technology and Innovation (TPM) (TU Delft)
Copyright: © 2022 Christian Urom, G.O. Ndubuisi, Gaye Del Loe, Denis Yuni
DOI: https://doi.org/10.1016/j.ememar.2022.100948
More Info
expand_more

Published Date

2022

Language

English

Faculty

Technology, Policy and Management

Department

Values Technology and Innovation

Research Group

Economics of Technology and Innovation

Abstract

This paper examines the connectedness among 12 African equity markets and the global commodity, developed equity markets, paying particular attention to their evolution during the COVID-19 pandemic's peak period. We find that whilst African equity markets connect weakly to these markets, the levels of connectedness among these markets improved significantly during the pandemic. In addition, the energy market dominates the transmission of shocks in the system with commodity markets. Regarding the system with equity markets, the French and South African equity markets transmit the highest spillover in the full sample and during the pandemic's peak period, respectively.