Purpose: This paper examines the effect of both de jure and de facto measures of financial integration on bank profitability in five regional economic communities of Africa. Design/methodology/approach: Using panel data from 405 banks operating in 47 African countries across five regional...

Purpose: The level of participation in stock markets has generally been low, leading to a phenomenon called the stock holding puzzle. There is a general agreement that participation levels in the Ghana stock Exchange are extremely low. The Ghana Statistical Service reveals that approximately...