LEADER 03446nam 2200601Ia 450 001 9910452747903321 005 20200520144314.0 010 $a1-61635-781-9 010 $a1-4755-6390-6 035 $a(CKB)2550000001041540 035 $a(EBL)1607026 035 $a(SSID)ssj0000953047 035 $a(PQKBManifestationID)11603828 035 $a(PQKBTitleCode)TC0000953047 035 $a(PQKBWorkID)10925731 035 $a(PQKB)10501066 035 $a(MiAaPQ)EBC1607026 035 $a(Au-PeEL)EBL1607026 035 $a(CaPaEBR)ebr10661230 035 $a(OCoLC)870245026 035 $a(EXLCZ)992550000001041540 100 $a20121025d2012 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aFinancing growth in the WAEMU through the regional securities market$b[electronic resource] $epast successes and current challenges /$fprepared by Mame Astou Diouf and Francois Boutin-Dufresne 210 $aWashington, D.C. $cInternational Monetary Fund$dc2012 215 $a1 online resource (23 p.) 225 1 $aIMF working paper ;$vWP/12/249 300 $aDescription based upon print version of record. 311 $a1-4755-1570-7 311 $a1-4755-4820-6 320 $aIncludes bibliographical references. 327 $aCover; 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, 2010 327 $aFigure 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, 2010 330 $aThe West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional background, this paper studies recent developments and the determinants of interest rates on the market?using yield curve and principal component analyses. It also identifies challenges and prospective reforms that could help the region reap the full benefits of a more dynamic securities market and assesses 410 0$aIMF working paper ;$vWP/12/249. 606 $aSecurities$zAfrica, West 606 $aInvestments$zAfrica, West 608 $aElectronic books. 615 0$aSecurities 615 0$aInvestments 700 $aDiouf$b Mame Astou$0979728 701 $aBoutin-Dufresne$b Francois$f1976-$0979729 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910452747903321 996 $aFinancing growth in the WAEMU through the regional securities market$92234384 997 $aUNINA