Regional Integration of Stock Exchanges in Eastern and Southern Africa PDF Download
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Author: Ms.Jacqueline Irving
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451861419
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
This paper assesses whether regional cooperation and integration of stock exchanges in eastern and southern Africa could offer a way of overcoming impediments to the exchanges' development. The paper concludes that regional cooperation and, at a later stage, integration, if carried out at the right pace and in a pragmatic way, could improve the liquidity, efficiency, and competitiveness of these exchanges. Further progress in developing national financial markets must precede any actual moves to integrate securities markets. These exchanges could meanwhile benefit from closer cooperation, including by encouraging more crossborder listings and information/technology sharing.
Author: Ms.Jacqueline Irving
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451861419
Category : Business & Economics
Languages : en
Pages : 0
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Book Description
This paper assesses whether regional cooperation and integration of stock exchanges in eastern and southern Africa could offer a way of overcoming impediments to the exchanges' development. The paper concludes that regional cooperation and, at a later stage, integration, if carried out at the right pace and in a pragmatic way, could improve the liquidity, efficiency, and competitiveness of these exchanges. Further progress in developing national financial markets must precede any actual moves to integrate securities markets. These exchanges could meanwhile benefit from closer cooperation, including by encouraging more crossborder listings and information/technology sharing.
Author: Moses Wisdom Chisadza
Publisher: diplom.de
ISBN: 3954897210
Category : Business & Economics
Languages : en
Pages : 112
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Book Description
This book looks at contemporary issues facing financial markets in Southern Africa. It has been established that African stock markets are confronted with a multitude of problems which include inadequate liquidity, low capitalisation, few market participants, a small number of listed companies and low trading volumes. As a result, their broader economic impact has so far been limited. The Southern Africa Development Community (‘SADC’) stock markets, with the exception of South Africa, are small both in terms of the number of listed companies and market capitalisation, and they display considerable illiquidity. In general, the SADC region has shallow and underdeveloped financial markets. Their development has been hampered by a number of factors which include; political and economic uncertainty, fiscal dominance, weak judicial institutions, limited investment opportunities in the private sector, technological constraints, and the shortage of skilled personnel with expertise in banking and finance.
Author: Kenneth Kaoma Mwenda
Publisher: Universal-Publishers
ISBN: 1581124015
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
This book looks at contemporary issues facing financial markets in Eastern and Southern Africa. The book addresses strategies for capital market integration and development on a region-wide basis. An argument is made that the establishment of a regional stock exchange and the promotion of multiple listings and cross-border trade in securities would stimulate increased liquidity on national stock exchanges in Eastern and Southern Africa. Lessons of experience are drawn from other regions and a case is made against transplanting models of a regional stock exchange from one region to another. The book argues that African countries may, however, use lessons of experience from other regions as points of reference, while pursuing their own discourse of self-determination. Each case is unique and is thus surrounded by different variables. The book covers developments in regions such as the European Union, francophone West Africa and Eastern and Southern Africa. Indeed, an international and comparative perspective is provided.
Author: Moses Wisdom Chisadza
Publisher: GRIN Verlag
ISBN: 3656576475
Category : Business & Economics
Languages : en
Pages : 124
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Book Description
Master's Thesis from the year 2013 in the subject Economics - Case Scenarios, , course: LLM in International Trade, Investment and Business Law in Africa, language: English, abstract: It has been established that African stock markets are confronted with a multitude of problems which include, inadequate liquidity, low capitalisation, few market participants, a small number of listed companies and low trading volumes. As a result, their broader economic impact has so far been limited. The Southern Africa Development Community (SADC) stock markets with the exception of South Africa are small, both in terms of the number of listed companies and market capitalisation, and they display considerable illiquidity. In general, the SADC region has shallow and underdeveloped financial markets. Their development has been hampered by a number of factors which include; political and economic uncertainty, fiscal dominance, weak judicial institutions, limited investment opportunities in the private sector, technological constraints, and the shortage of skilled personnel with expertise in banking and finance. It is contended that all these problems could be eased through regional financial integration. The integration of African stock markets and the introduction of regional stock exchanges will promote cross-border listings and thus stimulate increased liquidity across markets. Thus, it is suggested that the integration of SADC’s stock markets and the creation of a regional stock exchange is one of the panaceas to overcome Africa’s stock market problems. A regional stock exchange has the potential for tremendous benefits for both local and foreign investors, as well as for business enterprises in the region
Author: Henry Kyambalesa
Publisher: Routledge
ISBN: 1317146190
Category : Business & Economics
Languages : en
Pages : 354
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Book Description
The debates over what African economic integration and development actually entails continue across international economic organizations, national governments and NGOs. Despite the glare of media attention and the position this issue has on international political agendas, few comprehensive accounts exist that fully examine why this process will be inevitable in the 21st century and how integration of national economies can be attuned to attaining the socio-economic goals and aspirations of member-countries. This book addresses this problem. It combines theory with application, enumerating the imperatives and initiatives governments will be forced to confront; providing insights for educators and students in African development, for policy makers in African governments, and for inter-governmental organizations.
Author: Kenneth Mwenda
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
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: Organisation for Economic Co-operation and Development. Development Centre
Publisher: Paris, France : OECD, African Development Bank, Development Centre of the Organisation for Economic Co-operation and Development
ISBN:
Category : Business & Economics
Languages : en
Pages : 228
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Book Description
Relates to the second session of the International Forum on African Perspectives held in March 2001.
Author: Olutayo, Akinpelu O.
Publisher: CODESRIA
ISBN: 2869786328
Category : Political Science
Languages : en
Pages : 148
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Book Description
This book examines how the existence of overlapping regional institutions has presented a daunting challenge to the workings of various Regional Economic Communities (RECs) on the African continent. The majority of the African countries are members of overlapping and, sometimes, contradictory RECs. For instance, in East Africa, while Kenya and Uganda are both members of EAC and COMESA, Tanzania, which is also a member of the EAC, left COMESA in 2001 to join SADC. In West Africa, while all former French colonies belong to ECOWAS, they simultaneously keep membership of UEMOA, an organization which is not recognized by the African Union (AU). Such multiple and confusing memberships create unnecessary duplication and dims the light on what ought to be priority. Various chapters in this book have therefore sought to identify and proffer solutions to related challenges confronting the workings of the RECs in different sub-regions of the African continent. The discourses range from security to the stock exchange, identity integration, development framework, labour movement and cross-border relations. The pattern adopted in the book involves devolution of related discussions from the general to the specific; that is, from the continental level to sub-regional case studies.
Author: Charles Amo Yartey
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 40
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Book Description
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: M. Tekere
Publisher: African Books Collective
ISBN: 0798303042
Category : Business & Economics
Languages : en
Pages : 290
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Book Description
Despite a long history of regional integration and a multiplicity of regional organizations in southern Africa, the effect of regional integration on economic growth and poverty reduction remains debatable or elusive. This causes many to doubt whether regional integration is in actual fact an effective poverty-reduction strategy. Accordingly, the focus of this book is to explore and analyze whether specific Southern African Development Community (SADC) trade integration policies, especially the trade liberalization regime, have produced economic growth and reduced poverty in the region. While it is generally agreed that economic growth is the panacea to poverty reduction, there is little evidence as to whether regional integration in Africa is associated with economic growth in the countries concerned and subsequently leads to poverty reduction. The book makes recommendations on how the SADC FTAs can contribute to poverty reduction and socioeconomic development, and goes on to suggest policy proposals on how to enhance the contribution of the FTAs to poverty eradication and economic development. It also identifies specific activities to be undertaken to enable supply-side and productive competitiveness interventions to support the FTAs and contribute to economic development. The potential constraints and negative impacts of the FTAs are investigated and highlighted, and possible solutions are recommended and motivated.
