Can Stocks Hedge against Inflation in the Long Run? Evidence from Ghana Stock Market

Anokye, Mohammed Adam; Siaw, Frimpong

dc.contributor.author	Anokye, Mohammed Adam
dc.contributor.author	Siaw, Frimpong
dc.date.accessioned	2021-07-29T12:30:09Z
dc.date.available	2021-07-29T12:30:09Z
dc.date.issued	2017-03-14
dc.identifier.issn	2354
dc.identifier.uri	http://hdl.handle.net/123456789/5797
dc.description	7p,:ill	en_US
dc.description.abstract	Based on Fisher (1930) hypothesis, we test whether Ghana stock market can provide hedge against inflation in the long run using cointegration analysis. Using data for the Databank stock Index (DSI) from January 1991 to December 2007, the results give strong support for the hedge property. Thus Ghana stock market provides full hedge against inflation. The outcome of this study holds important lesson for the market participants in developing market (many of which have experienced decades of higher inflation) that current inflation may not necessarily be associated with expectations of lower future returns.	en_US
dc.language.iso	en	en_US
dc.publisher	University of Cape Coast	en_US
dc.subject	Stock Returns	en_US
dc.subject	Inflation	en_US
dc.subject	Hedging	en_US
dc.subject	Cointegration	en_US
dc.title	Can Stocks Hedge against Inflation in the Long Run? Evidence from Ghana Stock Market	en_US
dc.type	Article	en_US