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Regional Integration Of Stock Exchanges In Eastern And Southern Africa
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Book Synopsis Regional Integration of Stock Exchanges in Eastern and Southern Africa by : Ms.Jacqueline Irving
Download or read book Regional Integration of Stock Exchanges in Eastern and Southern Africa written by Ms.Jacqueline Irving and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-06-01 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Regional financial Integration in Africa: Cross-listings as a form of regional financial integration by : Moses Wisdom Chisadza
Download or read book Regional financial Integration in Africa: Cross-listings as a form of regional financial integration written by Moses Wisdom Chisadza and published by diplom.de. This book was released on 2014-02-01 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Dynamics of Market Integration by : Kenneth Kaoma Mwenda
Download or read book The Dynamics of Market Integration written by Kenneth Kaoma Mwenda and published by Universal-Publishers. This book was released on 2000 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The role of cross-listings in establishing a Southern African Development Community regional stock exchange by : Moses Wisdom Chisadza
Download or read book The role of cross-listings in establishing a Southern African Development Community regional stock exchange written by Moses Wisdom Chisadza and published by GRIN Verlag. This book was released on 2014-01-17 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Book Synopsis Economic Integration and Development in Africa by : Henry Kyambalesa
Download or read book Economic Integration and Development in Africa written by Henry Kyambalesa and published by Routledge. This book was released on 2016-04-29 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Prospects and Constraints to Capital Markets Integration in Eastern and Southern Africa by : Kenneth Mwenda
Download or read book Prospects and Constraints to Capital Markets Integration in Eastern and Southern Africa written by Kenneth Mwenda and published by . This book was released on 2013 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 13 : Total Pages :228 pages Book Rating :4.F/5 ( download)
Book Synopsis Development Centre Seminars Regional Integration in Africa by : Organisation for Economic Co-operation and Development. Development Centre
Download or read book Development Centre Seminars Regional Integration in Africa written by Organisation for Economic Co-operation and Development. Development Centre and published by Paris, France : OECD, African Development Bank, Development Centre of the Organisation for Economic Co-operation and Development. This book was released on 2002-05-27 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: Relates to the second session of the International Forum on African Perspectives held in March 2001.
Book Synopsis Regional Economic Communities by : Olutayo, Akinpelu O.
Download or read book Regional Economic Communities written by Olutayo, Akinpelu O. and published by CODESRIA. This book was released on 2015-12-01 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Stock Market Development in Sub-Saharan Africa by : Charles Amo Yartey
Download or read book Stock Market Development in Sub-Saharan Africa written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2007-08 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Assessing Regional Integration in Africa V by :
Download or read book Assessing Regional Integration in Africa V written by and published by UN. This book was released on 2012 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fifth of the series (ARIA/V) has come at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. Its overall objective is to provide an analytical research publication that defines frameworks for African Governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area
Book Synopsis Regional Trade Integration, Economic Growth and Poverty Reduction in Southern Africa by : M. Tekere
Download or read book Regional Trade Integration, Economic Growth and Poverty Reduction in Southern Africa written by M. Tekere and published by African Books Collective. This book was released on 2012 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa by : Olatundun Janet Adelegan
Download or read book Can Regional Cross-listings Accelerate Stock Market Development? Empirical Evidence from Sub-Saharan Africa written by Olatundun Janet Adelegan and published by International Monetary Fund. This book was released on 2008-12 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes the impact of regional cross-listing of stocks on the depth of the stock markets in sub-Saharan Africa (SSA). It analyzes data from 1990 to 2007 for a panel of 13 stock markets in SSA countries, only some of which have regional cross-listings. Using event study methodology, the paper finds significant positive effects in measures of stock market depth around regional cross-listing events. Overall, growth in the regional crosslisting of stocks facilitates stock market deepening, and the stock markets of countries with regional cross-listings perform better than those without. The study thus suggests that SSA countries can benefit from putting in place the necessary conditions for promoting regional cross-listings and thereby deepening their stock markets. These include sound legal and regulatory frameworks, macroeconomic and political stability, harmonization of listing rules, accounting laws and disclosure requirements across the region, and strong money markets.
Book Synopsis Comesa and Sadc by : Padamja Khandelwal
Download or read book Comesa and Sadc written by Padamja Khandelwal and published by . This book was released on 2007 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regional integration has been seen in Africa as a means of encouraging trade and securing economies of scale. This paper examines in detail the prospects and challenges for trade expansion in the two most prominent arrangements in eastern and southern Africa: the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC). It finds that possibilities of growth in intraregional trade may be limited, but that the two arrangements offer opportunities for member countries to gain policy credibility for trade reforms and tariff liberalization and to address structural weaknesses. In this regard, the negotiation of the Economic Partnership Agreements with the European Union can also have a significant impact.
Book Synopsis A Work in Progress by : Mr.Emre Alper
Download or read book A Work in Progress written by Mr.Emre Alper and published by International Monetary Fund. This book was released on 2017-01-13 with total page 77 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses the extent of economic and financial integration among the East African Community (EAC) along a number of dimensions and, where possible, whether integration has increased in the wake of the major regional integration policy milestones.
Book Synopsis Regional Integration and the Challenge of Economic Development by : Roselyn Kwamboka Akombe
Download or read book Regional Integration and the Challenge of Economic Development written by Roselyn Kwamboka Akombe and published by . This book was released on 2005 with total page 238 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Co-operation in Southern Africa by : Gavin Grant Maasdorp
Download or read book Economic Co-operation in Southern Africa written by Gavin Grant Maasdorp and published by . This book was released on 1992 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Small African Stock Markets by : Heloisa Cortella Marone
Download or read book Small African Stock Markets written by Heloisa Cortella Marone and published by . This book was released on 2006 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: In trend with a global pattern and following recommendations of the World Bank and the International Finance Corporation (IFC), the number of stock markets in African countries has increased dramatically over the last ten years. Despite a scarcity of studies on the impact of stock markets on these economies, some policymakers have been arguing in favor of stock exchanges (national or regional) in eastern and southern Africa. The creation of such exchanges may be a premature project as they might lack an actual economic rationale. The present case study, for instance, suggests that the Lusaka Stock Exchange (LuSE) has little effect on the larger Zambian economy.
