05105oam 22010574 450 991080962800332120200520144314.01-61635-781-91-4755-6390-6(CKB)2550000001041540(EBL)1607026(SSID)ssj0000953047(PQKBManifestationID)11603828(PQKBTitleCode)TC0000953047(PQKBWorkID)10925731(PQKB)10501066(Au-PeEL)EBL1607026(CaPaEBR)ebr10661230(OCoLC)870245026(IMF)WPIEE2012249(IMF)WPIEA2012249(MiAaPQ)EBC1607026(EXLCZ)99255000000104154020020129d2012 uf 0engurcn|||||||||txtccrFinancing Growth in the WAEMU Through the Regional Securities Market : Past Successes and Current Challenges /Mame Astou Diouf, Francois Boutin-Dufresne1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (23 p.)IMF Working PapersDescription based upon print version of record.1-4755-1570-7 1-4755-4820-6 Includes bibliographical references.Cover; Contents; I. Introduction; II. Institutional Framework and Market Instruments; Figures; Figure 1. Organigram of the WAEMU Securities Market; III. Recent Developments; Figure 2. WAEMU: Issuance of Debt Securities, 2001-10; Tables; Table 1. WAEMU: Government Debt Issues, 2010; Table 2. WAEMU: Issuance of Long-Term Securities, 1999-2010; IV. Determinants of Interest Rates: Yield Curve and Principal Component Analysis; Table 3. WAEMU Countries' Sovereign Debt Ratings; Figure 3. WAEMU: Determinants of T-bills' Interest Rates, 2010Figure 4. WAEMU: Government Issues Profiling Using Principal Component Analysis, 2010 V. Challenges Ahead; VI. Conclusion and Policy Recommendations; References; Annex 1. Issuers on the WAEMU Bond Market; Table 1. WAEMU: Issues of Securities, 2001-2010; Annex 2. Principal Component Analysis: Detailed Results for Government Securities Issued in 2010; Figure 1. WAEMU: PCA on Government Securities, 2010The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional background, this paper studies recent developments and the determinants of interest rates on the market—using yield curve and principal component analyses. It also identifies challenges and prospective reforms that could help the region reap the full benefits of a more dynamic securities market and assesses the potential systemic risk the market may pose for the region’s banking system.IMF Working Papers; Working Paper ;No. 2012/249SecuritiesAfrica, WestInvestmentsAfrica, WestBondsimfCapital marketimfEconomic IntegrationimfFinanceimfFinance: GeneralimfFinancial institutionsimfFinancial instrumentsimfFinancial Markets and the MacroeconomyimfFinancial marketsimfGeneral Financial Markets: General (includes Measurement and Data)imfGovernment securitiesimfInterest Rates: Determination, Term Structure, and EffectsimfInvestment & securitiesimfInvestments: BondsimfInvestments: GeneralimfSecurities marketsimfSecuritiesimfTreasury bills and bondsimfBurkina FasoimfSecuritiesInvestmentsBondsCapital marketEconomic IntegrationFinanceFinance: GeneralFinancial institutionsFinancial instrumentsFinancial Markets and the MacroeconomyFinancial marketsGeneral Financial Markets: General (includes Measurement and Data)Government securitiesInterest Rates: Determination, Term Structure, and EffectsInvestment & securitiesInvestments: BondsInvestments: GeneralSecurities marketsSecuritiesTreasury bills and bonds338.29347Diouf Mame Astou1715078Boutin-Dufresne Francois1771801DcWaIMFBOOK9910809628003321Financing Growth in the WAEMU Through the Regional Securities Market4266063UNINA