Download or read book Africa s Emerging Securities Markets written by Robert A. Clark and published by Praeger. This book was released on 1998-10-30 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: The increasing globalization of financial markets has resulted in a substantial increase in net private capital flows to developing countries, primarily the emerging economies of Asia, Eastern Europe, and Latin America. Until recently, investors have ignored opportunities in Africa. African markets caught investors' attention in 1994 with Kenya's 179% U.S. dollar returns leading world equity markets, along with six of the world's top ten markets being in Africa. With low levels of correlation between African and developed world markets, the African exchanges represent ideal portfolio diversification opportunities. Moreover, rates of return for African investments are among the highest returns in the world, yet African nations have not attracted the foreign direct investment that is required to change their economies. Dr. Clark's research examines the nature and evolution of Africa's emerging securities markets and their role in regional economic development. He shows that the continent's trading systems represent many different trading arrangements without standardized rules and procedures. African countries continue to implement reforms to strengthen the development of financial markets, but without the appropriate market microstructure and custodial arrangements international investors will not provide African projects with the equity capital required for further development. The government's role in the regulation of developing equity markets, therefore, is a critical element to the success of the reform process. Clark argues that freeing the economies to international competition will reap significant dividends for the continent's emerging economies. As the markets evolve, structural impediments will reduce, leading to increased efficiencies and lower capital costs.
Download or read book Africa s Emerging Capital Markets written by United States. Congress. House. Committee on International Relations. Subcommittee on Africa and published by . This book was released on 1997 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Investing in Africa written by Justin F. Beckett and published by Wiley. This book was released on 2000-09-06 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "What a great economic tour of Africa! Provides a top-down understanding of Africa's financial opportunities and a bottoms-up view for investing." - William T. Comfort, Chairman, Citibank Venture Capital, Ltd. "Long overdue! Finally, we have a comprehensive and insightful view of the stock of the stock market investment opportunities in Africa. Yes, 'Tarzan does not live here anymore!' and this book explores the ultimate emerging market with the potential for outstanding investment returns. The book is well organized and gives readers a complete picture of not only all the stock markets in Africa, but also the economic and political background of this exciting area. Case studies and investment examples provide the reader with a realistic view of investing in Africa." - Mark Mobius, President, Templeton Emerging Markets Fund Vastly promising financial opportunities await savvy investors in twenty-first-century Africa. After decades of successful returns for U.S. multinationals from Coca-Cola to Citigroup to Microsoft to McDonald's. Africa has evolved as the birthplace of more new stock markets than any other part of the world. This authoritative guide provides institutional and sophisticated individual investors with a complete, insider's view of the markets, and: * Debunks common misconceptions about Africa and explains why it is the ultimate emerging market * Explains the driving force behind the African economy * Pinpoints available investment vehicles and resources * Weighs the potential risks and rewards for U.S. investors Written by two experts in the field, Investing in Africa contains information on everything from the least known investment opportunities to the world's most recent top performing stock markets--all found within this rapidly evolving, richly promising continent.
Download or read book Return Dynamics in Africa s Emerging Stock Markets written by Paul Alagidede and published by Nova Science Pub Incorporated. This book was released on 2011 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Stock markets play an increasingly important part in economic life. This is true for the public at large, of corporations, of hedge funds, of regulatory authorities, of treasury chiefs and, of course of students and academics who take keen interest in analysing the behaviour of stock prices. Stock price movements are nowadays part of the background of all our lives. Although not a perfect indicator, stock markets tend to predict recessions as they fluctuate with economic activity. Over the past three decades developing countries have expanded stock markets owing to the obvious benefits that they deliver. In Africa, the number of stock markets increased from only six before 1989 to 21 by 2004, and currently 24. This book examines the underlying dynamics of stock price behaviour of Africa's most developed markets.
Download or read book Efficient Market Hypothesis in Africa s Sub Saharan Stock Markets written by Sebastian Groh and published by GRIN Verlag. This book was released on 2009-10-03 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2009 in the subject Economics - Case Scenarios, grade: 1,3, University of Mannheim (Lehrstuhl für Volkswirtschaftslehre, insbes. Ökonometrie), course: Bachelorarbeit, language: English, abstract: In recent years foreign aid was often conditioned on good institutions. Due to this course the development of financial institutions has been considered vital for the development process. This thesis points in its theoretical part to the positive effects of efficient stock markets on economic growth and examines empirically the efficiency of Africa's sub-Saharan stock markets. Results are then compared with the same tests on four emerging markets in Asia and as a benchmark on S&P 500 and DAX. It discusses further the relationship between market efficiency and financial crisis and comes to the conclusion that a crisis worsens the respective efficiency level. Nevertheless, all African markets are at least able to pass the critical lowest hurdle of market efficiency. However, conclusions from the research propose, that the Asian markets perform better than the African markets, although the study comes to some inconclusive results. Limits to the efficient market hypothesis itself and its empirical analysis are shown throughout the paper. The study suggests that former reforms need to be intensified in order to avoid a further increase in overall income inequalities.
Download or read book African Emerging Markets Contemporary issues written by Sam Mensah and published by . This book was released on 2001 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt: The African Capital Markets Forum was formed in 1996 to support efforts to build capital markets in Africa and to expand the knowledge base of African markets. ACMF seeks to promote best practice in capital market regulation, and operates by periodically compiling and making relavant research available to capital market regulators and professionals around the world. The essays in this volume are divided into two parts. The first part provides an overview of research topics relevant to the development of capital markets in developing economies in general e.g.Political risk in emerging and developed markets; open markets, foreign investors and emerging nations; securities markets. Part two covers recent research on African capital markets, e.g. studies of the Ghana stockmarket/stock exchange; Nigeria's stock market; the Botswana share market and its role in financial and economic development; and integrating Africa into international financial markets.
Download or read book Efficient Market Hypothesis in Africa s Sub Saharan Stock Markets written by Sebastian Groh and published by GRIN Verlag. This book was released on 2009-10-02 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bachelor Thesis from the year 2009 in the subject Economics - Case Scenarios, grade: 1,3, University of Mannheim (Lehrstuhl für Volkswirtschaftslehre, insbes. Ökonometrie), course: Bachelorarbeit, language: English, abstract: In recent years foreign aid was often conditioned on good institutions. Due to this course the development of financial institutions has been considered vital for the development process. This thesis points in its theoretical part to the positive effects of efficient stock markets on economic growth and examines empirically the efficiency of Africa’s sub-Saharan stock markets. Results are then compared with the same tests on four emerging markets in Asia and as a benchmark on S&P 500 and DAX. It discusses further the relationship between market efficiency and financial crisis and comes to the conclusion that a crisis worsens the respective efficiency level. Nevertheless, all African markets are at least able to pass the critical lowest hurdle of market efficiency. However, conclusions from the research propose, that the Asian markets perform better than the African markets, although the study comes to some inconclusive results. Limits to the efficient market hypothesis itself and its empirical analysis are shown throughout the paper. The study suggests that former reforms need to be intensified in order to avoid a further increase in overall income inequalities.
Download or read book Unlocking Africa s Business Potential written by Landry Signe and published by Brookings Institution Press. This book was released on 2020-04-07 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa welcomes business investment and offers some of the world's highest returns and impacts Africa has tremendous economic potential and offers rewarding opportunities for global businesses looking for new markets and long-term investments with favorable returns. Africa has been one of the world's fastest-growing regions over the past decade, and by 2030 will be home to nearly 1.7 billion people and an estimated $6.7 trillion worth of consumer and business spending. Increased political stability in recent years and improving regional integration are making market access easier, and business expansion will generate jobs for women and youth, who represent the vast majority of the population. Current economic growth and poverty-alleviation efforts mean that more than 43 percent of the continent's people will reach middle- or upper-class status by 2030. Unlocking Africa's Business Potential examines business opportunities in the eight sectors with the highest potential returns on private investment—the same sectors that will foster economic growth and diversification, job creation, and improved general welfare. These sectors include: consumer markets, agriculture and agriprocessing, information and communication technology, manufacturing, oil and gas, tourism, banking, and infrastructure and construction. The book's analysis of these sectors is based on case studies that identify specific opportunities for investment and growth, along with long-term market projections to inform decision-making. The book identifies potential risks to business and offers mitigation strategies. It also provides policymakers with solutions to attract new business investments, including how to remove barriers to business and accelerate development of the private sector.
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.
Download or read book Where Credit is Due written by Gregory Smith and published by Oxford University Press. This book was released on 2021-12-01 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: Borrowing is a crucial source of financing for governments all over the world. If they get it wrong, then debt crises can bring progress to a halt. But if it's done right, investment happens and conditions improve. African countries are seeking calmer capital, to raise living standards and give their economies a competitive edge. The African debt landscape has changed radically in the first two decades of the twenty-first century. Since the clean slate of extensive debt relief, states have sought new borrowing opportunities from international capital markets and emerging global powers like China. The new debt composition has increased risk, exacerbated by the 2020 coronavirus pandemic: richer countries borrowed at rock-bottom interest rates, while Africa faced an expensive jump in indebtedness. The escalating debt burden has provoked calls by the G20 for suspension of debt payments. But Africa's debt today is highly complex, and owed to a wider range of lenders. A new approach is needed, and could turn crisis into opportunity. Urgent action by both lenders and borrowers can reduce risk, while carefully preserving market access; and smart deployment of private finance can provide the scale of investment needed to achieve development goals and tackle the climate emergency.
Download or read book African Capital Markets Challenges and Opportunities written by Heidi Raubenheimer and published by CFA Institute Research Foundation. This book was released on 2019-11-21 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa encompasses a wide range of market conditions, from rapidly emerging economies to countries with a long history with financial markets. Produced in partnership with the African Securities Exchanges Association, this collection of essays includes the perspectives of authors in local markets who provide their analysis of the history, current developments, and future outlook for South Africa, Nigeria, Mauritius, Ghana, Zimbabwe, Morocco, Egypt, Botswana, and East Africa. For prospective investors, the book provides valuable insights on how changing regulation, evolving financial technology, and expanding investor access are transforming local markets on the continent.
Download or read book Emerging Africa written by Kingsley Chiedu Moghalu and published by Penguin UK. This book was released on 2014-07-24 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: A rare and timely intervention from Kingsley Chiedu Moghalu, Deputy Governor of the Central Bank of Nigeria, on development in Africa. To many, Africa is the new frontier. As the West lies battered by financial crisis, Africa is seen as offering limitless opportunities for wealth creation in the march of globalization. But what is Africa to today's Africans? Are its economies truly on the rise? And what is its likely future? In this pioneering book, leading international strategist Kingsley Moghalu challenges conventional wisdoms about Africa's quest for growth. Drawing on philosophy, economics and strategy, he ranges from capitalism to technological innovation, finance to foreign investment, and from human capital to world trade to offer a new vision of transformation. Ultimately he demonstrates how Africa's progress in the twenty-first century will require nothing short of the reinvention of the African mindset. 'Africans seriously analyzing Africa's opportunities are all too rare. Kingsley Moghalu writes with insight and authority' Paul Collier 'Savvy . . . distinguished' Mark Malloch-Brown 'Unique in the depth of its insight, the ambition of its scope, and the clarity of its argument. Kingsley Moghalu brings a remarkable intellect and his vast experience to this tour de force on Africa's economic transformation. This is a truly weighty contribution to understanding Africa's developmental dilemma and its quest for a more prosperous future' Ngozi Okonjo-Iweala 'Insightful and analytical . . . sheds instructive light on Africa's position in the world. It is a testament to the palpable optimism that encompasses Africa while frankly addressing the myriad challenges that lie ahead for its economic transformation' Shashi Tharoor Kingsley Chiedu Moghalu is Deputy Governor of the Central Bank of Nigeria. He was the Founder and CEO of Sogato Strategies S.A., a global strategy and risk management consulting firm in Geneva, Switzerland. He has previously worked for the United Nations for 17 years in strategic planning, legal, development finance and executive management. His previous books include Global Justice and Rwanda's Genocide.
Download or read book The Determinants of Stock Market Development in Emerging Economies written by Charles Amo Yartey and published by International Monetary Fund. This book was released on 2008-02 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the institutional and macroeconomic determinants of stock market development using a panel data of 42 emerging economies for the period 1990 to 2004. The paper finds that macroeconomic factors such as income level, gross domestic investment, banking sector development, private capital flows, and stock market liquidity are important determinants of stock market development in emerging market countries. The results also show that political risk, law and order, and bureaucratic quality are important determinants of stock market development because they enhance the viability of external finance. This result suggests that the resolution of political risk can be an important factor in the development of emerging stock markets. The analysis also shows the factors identified above as determining stock market development in emerging economies can also explain the development of the stock market in South Africa.
Download or read book African Emerging Markets written by Sam Mensah and published by . This book was released on 2001 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: The African Capital Markets Forum was formed in 1996 to support efforts to build capital markets in Africa and to expand the knowledge base of African markets. ACMF seeks to promote best practice in capital market regulation and operations, by periodically compiling and making relevant research available to capital market regulators and professionals around the world. The chapters in this volume are divided into three parts. Part one considers emerging markets in general, e.g., financial regulatory harmonisation and globalisation; mutual funds; foreign portfolio equity investments; and securities exchanges. Part two addresses African capital markets specifically: their efficiency; and small stock markets, introducing case studies on Zambia, Ghana, and Ivory Coast. Part three comprises more wide-ranging and speculative essays on improving liquidity in government bond markets; government debt market development in small markets, index linked bonds, and primers on securitisation.
Download or read book Recession and Recovery written by Paul Alagidede and published by Nova Novinka. This book was released on 2011 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past two decades alone have witnessed four major shocks to the global financial system: the collapse of the European exchange rate mechanism in 1992-1993, the peso crisis in 1994-1995 and the Asian turmoil in 1997-1998. The last, and most current, is the sub-prime bubble, which started in the summer of 2007 in the United States, intensified in 2008 and 2009, and has since changed the face of global finance and economics. This book examines the aspects of the financial crisis which have had the most prominent impacts on African countries.
Download or read book Financial Regulation in Africa written by Iwa Salami and published by Routledge. This book was released on 2016-04-15 with total page 251 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the global financial crisis, there has been a worldwide search for alternative investment opportunities, away from advanced markets. The African continent is now one of the fastest-growing economic regions in the world and represents a viable destination for foreign direct and portfolio investment. This book, which is the first comprehensive analysis of financial integration and regulation in Africa, fills a huge gap in the literature on financial regulation and would constitute an invaluable source of information to policy makers, investors, researchers and students of financial regulation from an emerging and frontier markets perspective. It considers how financial integration can facilitate African financial markets to achieve their full potential and provides a comparative study with the EU framework for financial integration and regulation. It assesses the implementation of effective and regional domestic infrastructures and how these can be adapted to suit the African context. The book also provides an assessment of government policies towards the integration of financial regulation in keeping with the regional agenda of the African Union (AU) and the African Economic Community (AEC).
Download or read book Securities and Capital Markets Regulation in South Africa written by C. King Chanetsa and published by BRILL. This book was released on 2019-08-26 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Securities and Capital Markets Regulation: A Contemporary View, the author takes a critical look at regulation of the sector in South Africa primarily in view of efforts to accommodate international standards, policy considerations, and the transition to a new regulatory framework (Twin Peaks).
