✦ LIBER ✦
Should Africa promote stock market capitalism?
✍ Scribed by Ajit Singh
- Publisher
- John Wiley and Sons
- Year
- 1999
- Tongue
- English
- Weight
- 168 KB
- Volume
- 11
- Category
- Article
- ISSN
- 0954-1748
No coin nor oath required. For personal study only.
✦ Synopsis
This paper considers the pros and cons of establishing stock markets in sub-Saharan African economies at the present stage of their development. It provides theoretical analysis and empirical evidence from both developing and advanced countries to argue that for many African countries such a development would be a costly irrelevance which they can ill aord; for a number of others, it is likely to do more harm than good. The African countries would do better to use their scarce human, material, and institutional resources to improve their banking systems than to promote stock markets.