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Understanding the Growth of African Financial Markets / / Mihasonirina Andrianaivo, Charles Amo Yartey



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Autore: Andrianaivo Mihasonirina Visualizza persona
Titolo: Understanding the Growth of African Financial Markets / / Mihasonirina Andrianaivo, Charles Amo Yartey Visualizza cluster
Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2009
Descrizione fisica: 1 online resource (42 p.)
Disciplina: 336.54
Soggetto topico: Banks and banking - Africa
Stock exchanges - Africa
Banks and Banking
Exports and Imports
Finance: General
Industries: Financial Services
General Financial Markets: General (includes Measurement and Data)
Banks
Depository Institutions
Micro Finance Institutions
Mortgages
Financial Markets and the Macroeconomy
Current Account Adjustment
Short-term Capital Movements
Financial Institutions and Services: General
Finance
Banking
International economics
Stock markets
Commercial banks
Financial sector development
Capital account liberalization
Multilateral development institutions
Stock exchanges
Banks and banking
Financial services industry
Balance of payments
Development banks
Soggetto geografico: South Africa
Altri autori: YarteyCharles Amo  
Note generali: "August 2009."
Nota di contenuto: Contents; 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
B. 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)
Sommario/riassunto: This 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, well- developed institutions, or both. The powerful impacts of political risk on both banking sector and stock market development suggest that resolution of political risk may be important to the development of African financial markets.
Titolo autorizzato: Understanding the Growth of African Financial Markets  Visualizza cluster
ISBN: 1-4623-8704-7
1-4527-1575-0
9786612843921
1-4518-7329-8
1-282-84392-3
Formato: Materiale a stampa
Livello bibliografico Monografia
Lingua di pubblicazione: Inglese
Record Nr.: 9910788228903321
Lo trovi qui: Univ. Federico II
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Serie: IMF Working Papers; Working Paper ; ; No. 2009/182