Testing for causality-in-mean and in-variance among the U.S., China, and some Africa capital markets: A CCF approach

Aim/purpose – Owing to the huge risk occasioned by negative contagion effects associated with financial market linkages, markets participants and academia have continued to examine the capital market cross country interdependence at different levels. In this paper, we examined the causal relationships among the U.S., China and some top African capital market indexes.