Go to AfricaBib home

Go to AfricaBib home AfricaBib Go to database home

bibliographic database
Line
Previous page New search

The free AfricaBib App for Android is available here

Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The Botswana Share Market and its Role in Financial and Economic Development
Author:Jefferis, Keith R.ISNI
Year:1995
Periodical:World Development
Volume:23
Issue:4
Period:April
Pages:663-678
Language:English
Geographic term:Botswana
Subjects:financial market
Development and Technology
Economics and Trade
External link:https://doi.org/10.1016/0305-750X(94)00145-O
Abstract:Emerging stock markets are increasingly playing an important role in the financial sectors of developing countries. A share market was established in Botswana in 1989, and although small, it has grown rapidly since that time. This paper examines the achievements of the Botswana Share Market (BSM), and finds that it has made a contribution toward the development of Botswana's capital market. Perhaps the greatest impact has been on institutional savers, who have been able to restructure their investment portfolios and achieve a better balance between property and equities. In addition, the BSM has led a substantial net foreign exchange gain through reducing the institutions' incentives to invest offshore. The BSM has also provided a new link between the substantial long-term savings held by those institutions and the long-term financing needs of companies. On the negative side, it is disappointing that the benefits of improved availability of long-term equity finance have not yet spread to the manufacturing sector. There remain doubts about whether the BSM is in fact a suitable vehicle for raising new finance for this sector. One of the major problems of the BSM is its lack of breadth, both in terms of the number of stocks and the range of economic activities covered. Bibliogr., notes, ref., sum.
Cover