Integrated African Stock Markets Lead to Greater Information Efficiency.
Market integration and informational efficiency of stock markets in Africa were studied together. The researchers looked at 11 African stock markets from 2002 to 2014. They found that more integrated markets are also more efficient. This means that when African stock markets are connected to the global market, they react faster to global news, making them more efficient. The study suggests that efforts to make African markets more integrated should also focus on improving their efficiency.