| Abstract: | Stock markets have historically been less developed in Africa than in other regions of the developing world. Gradually, however, the position with regard to African stock markets may be improving; the International Finance Corporation's (IFC) African Securities Markets Initiative (ASMI) is currently involved in the establishment of new markets and the modernization and structural upgrading of older ones. This article examines the benefits which stock markets are claimed to bring about in sub-Saharan African economies: they may provide new sources of equity finance for private corporate investment, improve the level of savings in an economy, have a major impact on institutional savers, increase the inflow of funds from overseas portfolio investors, favour the indigenization of ownership, and improve standards of financial reporting and discipline as well as managerial accountability and incentives. The benefits of emerging markets (as stock markets in developing countries are often called) for economic development are also discussed. Bibliogr., notes, ref. |
AfricaBib 
Periodical article
Leiden University catalogue
WorldCat
