Exchange rate co-movement and volatility spill over in Africa 

Although research interest in why and how economies are related to each other continues to accumulate (Joyce, 2013, Todd, 2008), our understanding of the mechanisms through which economic turmoil in one region transmits to another is still unclear. The motivations for this study were to examine the volatility transmission in the African foreign exchange market and the global world through financial interdependence and factors explaining exchange rate co-movement. The thesis set out to find answers to the questions of volatility spill over…