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 Periodical article |
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| Title: | Legal aspects of the local capital market expansion through foreign participation: focus on Tanzania |
| Author: | Malaba, Magdalena |
| Year: | 2012 |
| Periodical: | Journal of African and international law (ISSN 1821-620X) |
| Volume: | 5 |
| Issue: | 3 |
| Pages: | 603-659 |
| Language: | English |
| Geographic term: | Tanzania |
| Subjects: | financial market foreign investments legislation economic development |
| Abstract: | The capital market industry in Tanzania is one of the important sources of funding for large institutional borrowers who are seeking financing for expanding their ventures or for starting new ones. It has also been an important source of capital for daring entrepreneurs. The market has been growing steadily; however, it is facing a number of challenges along its path to growth. The paper examines some of these challenges from a legal perspective, particularly those related to participation of foreigners in the market. It explores the laws governing foreign participation and their application in Tanzania and examines the legal constraints provided therein. The research then analyses whether such legal constraints hinder the development of the local capital market in Tanzania. The author explores in detail the relationship between capital markets, a country's economy and foreign participation in capital markets. The third section analyses the legal framework that governs mainly the two aspects of foreign participation in capital markets, identified as cross-listing and cross-border portfolio investment, as well as a review of the laws regarding capital markets and in particular foreign participation in the Tanzanian context. In conclusion, the author recommends how these laws can be improved. Notes, ref. [ASC Leiden abstract] |