What determines bond market development in Sub-Saharan Africa? /

This study empirically analyzes the determinants of bond market development in a cross section of 23 sub-Saharan African (SSA) countries between 1990 and 2008. It considers the stage of development and the size of the bond market, as well as the historical, structural, institutional and macroeconomi...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autores principales: Adelegan, Olatundun Janet (Autor), Radzewicz-Bak, Bozena (Autor)
Autor Corporativo: International Monetary Fund. Monetary and Capital Markets Department
Formato: Electrónico eBook
Idioma:Inglés
Publicado: [Washington, D.C.] : International Monetary Fund, 2009.
Colección:IMF working paper ; WP/09/213.
Temas:
Bond market > Africa, Sub-Saharan > Econometric models.
Capital market > Africa, Sub-Saharan > Econometric models.
Economic development > Africa, Sub-Saharan > Econometric models.
Marché obligataire > Afrique subsaharienne > Modèles économétriques.
Marché financier > Afrique subsaharienne > Modèles économétriques.
Développement économique > Afrique subsaharienne > Modèles économétriques.
Bond market > Econometric models
Capital market > Econometric models
Economic development > Econometric models
Sub-Saharan Africa
Acceso en línea:Texto completo
Tabla de Contenidos:
  • Cover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Debt Markets in sub-Saharan Africa: An Overview; 1. Domestic and External Debts to GDP; 1. Domestic and External Debt (1980-08); 2. Average Domestic Debt, 1990-08; 3. Cross-Country Comparison of Financial Systems; III. Macroeconomic and Financial Issues in the Development of Debt Markets in sub-Saharan Africa; 4. Financial Sector Depth and Domestic Depth, 2008; 2. Financial Sector Depth and Domestic Debt, 2008; 3. Ratio of M2 to GDP and Domestic Bonds as a Share of GDP.
  • 4. Stock Market Capitalization and Domestic Bonds as a Share of GDP5. Private Savings and Domestic Debt as a Share of GDP; IV. The Role of Institutional Investors in Bond Market Development; 5. Assets of Nonbank Institutional Investors; V. Is Government Debt Market Crowding Out the Corporated Debt Market?; 6. Overall Savings and Investment Balances in sub-Saharan Africa, 1991-08; VI. What Drives Bond Market Development in sub-Saharan Africa?; A. Methodology; B. Empirical Analysis; VII. Conclusions, Recommendations, and Policy Implications; I. Statistical Data.
  • 7. Overall Savings and Investment Balances, 19918. Current Account Balances, 1991-08; 9. Regression Results; 10. Correlation of Explanatory Variables; 11. Multivariate Analysis; 12. Sensitivity Analysis; References; Footnotes.

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