Dynamic Linkage amongst Oil, Gold, Exchange Rates and Stock Markets in Africa: Evidence from Volatility of Major African Economies

Abstract

In this work, we study whether the price fluctuations amongst exchange rates, stock and commodities markets are dynamically influentially linked and dependent within African economies, as there is a dearth of literature on this subject. The study models monthly price changes amongst these markets between the years 2000 and 2019 using a copula based DCC GARCH framework for a sample of twenty highest ranked African economies by nominal GDP. The results show evidence of time varying co-movement amongst these markets that tend to increase during times of turbulence in sampled markets. Dynamic relations are found to be quantitatively and relatively substantial for economies of Egypt, South Africa, Tanzania, Libya and Zambia. The results from this study would improve the risk management decisions by investment managers, individual investors and investment regulators.

Assessment of Knowledge, Attitudes, and Practices (KAP): Public Health and Economic Burden of Tuberculosis in Jarso District of West Wollega Zone, Oromia, Western Ethiopia

“…The opportunity costs, losses of workdays by TB patients and by their escorts while medical treatments, were valued in monetary terms using the estimated day labor cost (70 ETB/day) according to local context. The average United States dollar (USD) and Ethiopian birr (ETB) exchange rate was estimated at 1USD to 34.95 ETB during this study [ 34 ]. YLL was calculated as the number of human deaths within the age category multiplied by the life expectancy of the concerned age category.…”