Capital Market Policies in Kenya PDF Download

Author: Muyundo Masinde
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 64

View

Book Description

Author: Dennis Ikua
Publisher: GRIN Verlag
ISBN: 3346014010
Category : Political Science
Languages : en
Pages : 72

View

Book Description
Project Report from the year 2019 in the subject Business economics - Economic Policy, grade: 4.0, , language: English, abstract: The purpose of the study was to determine the effects of government economic policies and capital markets forces on fixed income markets in Kenya. The research was guided by three research questions were to determine the effects of fiscal policy on fixed income markets, to determine the effects of monetary policy on fixed income markets, and to determine the effects of capitals markets’ forces on fixed income markets. The research was designed as an explanatory study with quantitative data that was collected from the official website of Central Bank of Kenya as well as from the website of Nairobi Securities Exchange. Data was collected for a period of five years beginning October 3, 2012 and ending on October 2, 2017. The data included the central bank rate, fiscal deficit, Kenya NSE Govt. Bond Index, and the computed spread between the market-weighted average rate (ask) and the weighted average of accepted bids (bid). Data analysis used multiple linear regression model, correlation analysis, and covariance analysis. Data analysis was conducted in Microsoft Excel using XLSTAT features. Findings of the study on the effects of fiscal policy on fixed income markets indicate that fiscal deficits, and therefore the fiscal policies, had a weak correlation with the performance of fixed income markets. A weak correlation indicated that there was a limited extent to which fiscal policies can be used in explaining movements in the fixed income markets. Monetary policy has a strong effect on the level of interest rates in the fixed income markets. The implications of this finding were that the monetary policy announcements, mainly announcements on central bank rate, can be used in predicting the direction of interest rates charged on treasury bills by the investors. However, the monetary policy announcements had a limited impact on the spread between the market-weighted average rate (ask) and the weighted average of accepted bids (bid) indicating the existence of a random walk in the determination of prices of Treasury bill instruments. On effects of capitals markets’ forces on fixed income markets, FTSE NSE Kenya Govt. Bond Index has little to no impact on the interest rates charged on Treasury bill instruments in the primary market. The findings indicate that the performance of the FTSE NSE Kenya Govt. Bond Index would not be an accurate predictor of the level of interest rates for treasury instruments in Kenya.

Author: Bernard Mbui Wagacha
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 44

View

Book Description
This paper surveys the factors that influence company decisions to list or not to list in Kenya's emerging market when they are qualified to list.

Author: Justice Gatuyu
Publisher:
ISBN:
Category :
Languages : en
Pages :

View

Book Description
Capital markets play critical in facilitating countries' economic growth and prosperity. Proper functioning capital markets are vital for mobilizing investments capital and providing efficient avenue for foreign investments. In Kenya, the role of capital markets framework has been appreciated by numerous policy frameworks including the Kenya Vision 2030 blueprint. In the recent years, Kenya's capital markets have grown in leaps and bounds to become an integral component of the country's financial system and a key driver of economic growth. Some of these developments include the introduction of the junior trading market targeting small and medium enterprises and the operationalisation of the Futures Exchange to enable trading in hedging products. Islamic capital markets products have equally gained popularity and the Exchange Traded Funds framework has been developed. This paper chronicles the developments of the equity, debts and derivative capital markets in Kenya. A case is made on the need to tap the huge unexploited potential in the sector in order to facilitate rapid economic growth. The paper conducts a review of the capital markets laws and policy documents and makes a case for the county governments to use the capital markets framework for county financing through issuance of securitized products such as asset-backed securities. In conclusion, a need to sensitize and create public awareness is needed in order to boost the uptake of the capital markets in the country.

Author: Bernard Mbui Wagacha
Publisher:
ISBN:
Category : Business enterprises
Languages : en
Pages : 52

View

Book Description

Author: Rose Ngugi
Publisher:
ISBN:
Category : Stock exchanges
Languages : en
Pages : 64

View

Book Description

Author: Kenya. Capital Markets Authority
Publisher:
ISBN:
Category : Capital market
Languages : en
Pages : 156

View

Book Description
Extracts from a study carried out by Coopers & Lybrand under commission from the Capital Markets Authority, Kenya.

Author: Patrick O. Machyo
Publisher:
ISBN:
Category : Local finance
Languages : en
Pages : 116

View

Book Description

Author: Rose Ngugi
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 64

View

Book Description

Author: Samuel Onyuma
Publisher: LAP Lambert Academic Publishing
ISBN: 9783659208829
Category :
Languages : en
Pages : 372

View

Book Description
Despite the many efforts undertaken to foster financial development, capital markets in many developing economies remain underdeveloped. These reforms have not catapult the development of these markets to global standards. New stock exchanges are being created every year in Africa, but these markets remain shallow in listing and liquidity, with high volatility. Thus policymakers have no clear guidance on how to promote securities market development. Scholars are also widely divided on measures of market development, as well as, the factors which influence the level of market development. These issues are even more aggravated given the poor understanding of securities markets in developing countries. This book examines the institutional, market microstructural and macroeconomic determinants of securities market development in Kenya. Finance scholars interested in studying securities market development will find it a useful learning and research reference material. Capital markets regulators and management interested in developing their markets will also find the book important in designing reform prescriptions targeted at promoting market development.