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010   $a9786612843921
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100   $a20100526d2009      uf             0
101 0 $aeng
135   $aurcn|||||||||
181   $ctxt
182   $cc
183   $acr
200 10$aUnderstanding the growth of African financial markets$b[electronic resource] /$fprepared by Mihasonirina Andrianaivo and Charles Amo Yartey
210   $a[Washington, D.C.] $cInternational Monetary Fund, African Dept.$d2009
215   $a1 online resource (42 p.)
225 1 $aIMF working paper ;$vWP/09/182
300   $a"August 2009."
311   $a1-4519-1754-6 
327   $aContents; I. Introduction; II. The Growth of African Financial Markets; A. Banking in Africa; Figures; 1. Africa: Banking Sector Development; B. Stock Markets in Africa; 2. The Growth of African Stock Markets; C. The Private Equity Market; 3. Private Equity Fundraising; D. The Bond Market in Africa; 4. Bond Markets in Africa; III.The Literature on Determinants of Financial Market Development; IV. Methodology; A. Modeling Banking Sector Development; B. Modelling the Determinants of Stock Market Development; V. Empirical Results; A. Banking Sector Development
327   $aB. Determinants of Stock Market Development VI. Summary and Conclusion; References; Appendices; Tables; 1a. Explanatory Variables used for Banking Sector Regression; 1b. Explanatory Variables used for Stock Market Regression; 2. Determinants for Banking Sector Development (System GMM Estimation/Credit); 3. Determinants of Banking Sector Development (System GMM Estimation/Bank Assets).; 4. Determinants of Stock Markets Development (Panel Data Estimation); 5. Determinants of Stock Markets Development (GMM Estimation)
330   $aThis paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, financial repression, and political risk are the main determinants of banking sector development in Africa, and that stock market liquidity, domestic savings, banking sector development, and political risk are the main determinants of stock market development. We also find that liberalizing the capital account promotes financial market development only in countries with high incomes
410  0$aIMF working paper ;$vWP/09/182.
606   $aBanks and banking$zAfrica
606   $aStock exchanges$zAfrica
608   $aElectronic books.
615  0$aBanks and banking
615  0$aStock exchanges
676   $a336.54
700   $aAndrianaivo$b Mihasonirina$0937133
701   $aYartey$b Charles Amo$0898424
712 02$aInternational Monetary Fund.$bAfrican Dept.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910463995503321
996   $aUnderstanding the growth of African financial markets$92110729
997   $aUNINA