The Development of Capital Markets in Africa: Constraints and Prospects PDF Download

Author: United Nations. Economic and Social Council
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Author: Kenneth Mwenda
Publisher:
ISBN:
Category :
Languages : en
Pages :

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This article is underscored by the view that faced with constraints such as inadequate liquidity; the regulatory framework for public distribution of securities in many African emerging markets has had limited success in facilitating the development of competitive stock exchanges. It is argued therefore that the introduction of a regional stock exchange in the Common Market for Eastern and Southern Africa-COMESA-and the promotion of multiple listing and cross-border trade in securities would facilitate the development of more efficient and competitive capital markets in the region. This would help to ease the liquidity problem on markets such as the Lusaka Stock Exchange in a country like Zambia.

Author: Heidi Raubenheimer
Publisher: CFA Institute Research Foundation
ISBN: 1944960880
Category : Business & Economics
Languages : en
Pages : 126

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Book Description
Africa encompasses a wide range of market conditions, from rapidly emerging economies to countries with a long history with financial markets. Produced in partnership with the African Securities Exchanges Association, this collection of essays includes the perspectives of authors in local markets who provide their analysis of the history, current developments, and future outlook for South Africa, Nigeria, Mauritius, Ghana, Zimbabwe, Morocco, Egypt, Botswana, and East Africa. For prospective investors, the book provides valuable insights on how changing regulation, evolving financial technology, and expanding investor access are transforming local markets on the continent.

Author: Boniface Chimpango
Publisher: Routledge
ISBN: 1315408961
Category : Business & Economics
Languages : en
Pages : 279

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Most capital markets that have been established in developing economies like Africa have struggled to make progress over two decades down the line. Development of African Capital Markets explores why these markets have remained underdeveloped and discusses a possible development theory that can be used in designing and implementing legal and institutional reforms to reinvigorate capital markets in African and other developing countries. Boniface Chimpango analyses the weaknesses of capital markets in developing countries, and argues that legal and institutional framework for capital markets in developing countries should be tailored to the unique informal rules prevalent in each country rather than being transplanted from developed countries. This book will be of interest to scholars, students and policy makers in the fields of economic development, African Studies, law, development and regulatory policy.

Author: Gladson I. Nwanna
Publisher:
ISBN:
Category : Agricultural credit
Languages : en
Pages : 19

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Author: Mr.Masafumi Yabara
Publisher: International Monetary Fund
ISBN: 1463971826
Category : Business & Economics
Languages : en
Pages : 31

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Capital markets in the East African Community (EAC) face common challenges of low capitalization and liquidity, but to different degrees. EAC member countries have made noticeable progress in developing domestic capital markets through a regional approach, removing constraints on capital transactions and harmonizing market infrastructure. Nevertheless, empirical analysis suggests capital market integration has not deepened during the past few years in the EAC, although convergence of investment returns is taking place to some extent. Learning from the experience of the West African Economic and Monetary Union and the Association of Southeast Asian Nations, EAC countries would benefit from four actions to accelerate financial market integration: (i) further harmonize market infrastructure; (ii) strengthen regional surveillance mechanisms; (iii) encourage local currency bond issuance by multilateral financial institutions; and (iv) build the capacity of the existing regional institutions.

Author: Ross Levine
Publisher: World Bank Publications
ISBN: 6101919153
Category : Aumentoa de la produccion
Languages : en
Pages : 32

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Author: Ms.Catherine A. Pattillo
Publisher: International Monetary Fund
ISBN: 9781589065659
Category : Business & Economics
Languages : en
Pages : 62

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Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed. In fact, assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country. The absence of deep, efficient financial markets seriously challenges policy making, hinders poverty alleviation, and constrains growth. This book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects. Based on a review of the key features of financial systems, it discusses the main obstacles and challenges that financial structures pose for SSA economies and recommends steps that could address major shortcomings in implementing the reform agenda.

Author: Charles Amo Yartey
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 40

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This paper examines the economic importance of stock markets in Africa. It discusses policy options for promoting the development of the stock market in Africa. The results of the paper show that the stock markets have contributed to the financing of the growth of large corporations in certain African countries. An econometric investigation of the impact of stock markets on growth in selected African countries, however, finds inconclusive evidence even though stock market value traded seem to be positively and significantly associated with growth. African stock exchanges now face the challenge of integration and need better technical and institutional development to address the problem of low liquidity. Preconditions for successful regional approaches include the harmonization of legislations such as bankruptcy and accounting laws and a liberalized trade regime. Robust electronic trading systems and central depository systems will be important. Further domestic financial liberalization such as steps to improve the legal and accounting framework, private sector credit evaluation capabilities, and public sector regulatory oversight would also be beneficial.

Author: Jimnah Mbaru
Publisher: East African Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 564

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Book Description
The work is organised into sections on: global perspectives on capital markets; stock exchanges and capital markets within the African continent; regional perspectives within the continent; the Nairobi Stock Exchange; the role of the Nairobi Stock Exchange in economic development; education for capital markets; exchange controls and foreign investors; privatisation; financial sector reforms; and the roles of education, women and children, art and culture in development.