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Financial Regulation in Africa

Financial Regulation in Africa Author Iwa Salami
ISBN-10 9781317135135
Release 2016-04-15
Pages 250
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In the wake of the global financial crisis, there has been a worldwide search for alternative investment opportunities, away from advanced markets. The African continent is now one of the fastest-growing economic regions in the world and represents a viable destination for foreign direct and portfolio investment. This book, which is the first comprehensive analysis of financial integration and regulation in Africa, fills a huge gap in the literature on financial regulation and would constitute an invaluable source of information to policy makers, investors, researchers and students of financial regulation from an emerging and frontier markets perspective. It considers how financial integration can facilitate African financial markets to achieve their full potential and provides a comparative study with the EU framework for financial integration and regulation. It assesses the implementation of effective and regional domestic infrastructures and how these can be adapted to suit the African context. The book also provides an assessment of government policies towards the integration of financial regulation in keeping with the regional agenda of the African Union (AU) and the African Economic Community (AEC).



Making Finance Work for Africa

Making Finance Work for Africa Author Patrick Honohan
ISBN-10 9780821369104
Release 2007
Pages 240
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Drawing on its extensive experience in helping restructure and reform financial systems, the World Bank examines the state of African domestic financial systems in a global comparison. It identifies promising trends as well as pinpointing the major shortcomings that are observed across sub-Saharan Africa. Policy recommendations distinguish between those designed to make finance a more effective driver of economic growth and those designed to give low income, small-scale and other excluded groups better access to financial services.



Emerging Markets and the Global Economy

Emerging Markets and the Global Economy Author Mohammed El Hedi Arouri
ISBN-10 9780124115637
Release 2013-12-26
Pages 928
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Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan Concentrates on post-crisis roles of emerging markets in the global economy Reports on key theoretical and technical developments in emerging financial markets Forecasts future developments in linkages among developed and emerging economies



Emerging Capital Markets and Globalization

Emerging Capital Markets and Globalization Author Augusto de la Torre
ISBN-10 0821365444
Release 2006-10-20
Pages 228
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Back in the early 1990s, economists and policy makers had high expectations about the prospects for domestic capital market development in emerging economies, particularly in Latin America. Unfortunately, they are now faced with disheartening results. Stock and bond markets remain illiquid and segmented. Debt is concentrated at the short end of the maturity spectrum and denominated in foreign currency, exposing countries to maturity and currency risk. Capital markets in Latin America look particularly underdeveloped when considering the many efforts undertaken to improve the macroeconomic environment and to reform the institutions believed to foster capital market development. The disappointing performance has made conventional policy recommendations questionable, at best. 'Emerging Capital Markets and Globalization' analyzes where we stand and where we are heading on capital market development. First, it takes stock of the state and evolution of Latin American capital markets and related reforms over time and relative to other countries. Second, it analyzes the factors related to the development of capital markets, with particular interest on measuring the impact of reforms. And third, in light of this analysis, it discusses the prospects for capital market development in Latin America and emerging economies and the implications for the reform agenda.



Financing Africa

Financing Africa Author Samuel Munzele Maimbo
ISBN-10 9780821387979
Release 2011-09-07
Pages 301
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Financing Africa takes stock of Africa's financial systems in light of recent changes in the global financial system --including the greater risk aversion of international investors, a shift in economic and financial powers towards emerging markets and the regulatory reform debate - and the increasing role of technology. Using a wider and more detailed array of data than previous publications, we observe a trend towards financial deepening, more stability and more inclusion leading up to the crisis; serious challenges, however, continue, including limited access to financial services, focus on short-term contracts and hidden fragility, related to weak regulatory frameworks, undue government interference and governance deficiencies. Our policy analysis therefore focuses on (i) expanding outreach, (ii) fostering long-term finance and (iii) improving regulation and supervision. We identify the positive role of innovation and competition, a stronger focus on non-traditional financial service providers, and more emphasis on demand-side constraints as priority areas for policy actions. Specifically, competition from new players outside the banking system, including telecomm companies can increase outreach with technological innovation that changes the economics of retail finance. Moving beyond national stock exchanges that are not sustainable in most African countries towards regional solutions and over-the-counter trades can help foster long-term finance, as can addressing governance challenges in contractual savings institutions, including life insurance companies and pension funds. Finally, there is a need to look beyond supply-side constraints towards users of financial services, focusing more on financial literacy of households and firms, but also consumer protection. In formulating policy messages, we carefully distinguish between different country groupings, differentiating -- among others -- between low- and middle-income and small and larger economies, with a special focus on resource-based economies and post-conflict countries. This book reaches out to both policy makers concerned about a more inclusive and effective financial system and other stakeholders, including practitioners and development partners. With this book we aim to contribute to the on-going financial sector debate on Africa, with the ultimate goal of faster economic development and poverty reduction.



Financial Integration in Latin America

Financial Integration in Latin America Author Mr.Charles Enoch
ISBN-10 9781475577136
Release 2017-04-10
Pages 226
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With growth slowing across much of the Latin America as a result of the end of the commodity supercycle and economic rebalancing in China, as well as fragmentation of the international banking system, policies to stimulate growth are needed. This book examines the financial landscapes of seven Latin American economies—Brazil, Chile, Colombia, Mexico, Panama, Peru, and Uruguay—and makes a case for them to pursue regional financial integration. Chapters set out the benefits to the region of financial integration, the barriers to cross-border activity in banks, insurance companies, pension funds, and capital markets, as well as recommendations to address these barriers. Finally, the volume makes the case that regional integration now could be a step toward global integration in the short term.



Financial Sector Development in Africa

Financial Sector Development in Africa Author Thorsten Beck
ISBN-10 9780821396292
Release 2012-12-03
Pages 252
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This edited volume contains eight studies of financial sector challenges in Africa. They discuss expanding access, lengthening contracts, safeguarding finance and implementing financial sector reform in politically difficult environment.



Regulatory Assessment Toolkit

Regulatory Assessment Toolkit Author Martín Molinuevo
ISBN-10 9781464800580
Release 2014-03-11
Pages 128
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This toolkit is to offer a practical methodology to government officials and staff from development organizations on how to identify and assess laws and regulations that affect international trade and investment in the services sector.



Competition in the Financial Sector

Competition in the Financial Sector Author Stijn Claessens
ISBN-10 9781452765211
Release 2009-03-01
Pages 20
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As in other sectors, competition in finance matters for allocative, productive and dynamic efficiency. Theory suggests, however, that unfettered competition is not first best given the special features of finance. I review these analytics and describe how to assess the degree of competition in markets for financial services. Existing research shows that the degree of competition greatly varies across markets, largely driven by barriers to entry and exit. I argue that changes in financial services industries require updated competition policies and institutional arrangements, but that practices still fall short. Furthermore, I show that developing countries face some specific competition challenges.



Legal Aspects of Combating Corruption The Case of Zambia

Legal Aspects of Combating Corruption  The Case of Zambia Author
ISBN-10 9781621968856
Release
Pages
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Legal Aspects of Combating Corruption The Case of Zambia has been writing in one form or another for most of life. You can find so many inspiration from Legal Aspects of Combating Corruption The Case of Zambia also informative, and entertaining. Click DOWNLOAD or Read Online button to get full Legal Aspects of Combating Corruption The Case of Zambia book for free.



Designing Legal Frameworks for Public Debt Management

Designing Legal Frameworks for Public Debt Management Author Elsie Addo Awadzi
ISBN-10 9781513567280
Release 2015-07-02
Pages 57
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Sustainable public debt has gained renewed attention as countries implement fiscal consolidation measures in the aftermath of the global financial crisis. Sound public debt policies and debt management practices require robust legal underpinnings. Complex legal issues however arise in the design of the legal framework, and tradeoffs are required in many instances. This paper analyzes key features of modern public debt management legal frameworks, drawing from examples in advanced, emerging, and frontier markets. It aims to provide guidance for countries that seek to review and strengthen their public debt management legal frameworks.



Diaspora for Development in Africa

Diaspora for Development in Africa Author Sonia Plaza
ISBN-10 9780821382585
Release 2011
Pages 328
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The diaspora of developing countries can be a potent force for development, through remittances, but more importantly, through promotion of trade, investment, knowledge and technology transfers. The book aims to consolidate research and evidence on these issues with a view to formulating policies in both sending and receiving countries.



Stock Market Development in Sub Saharan Africa Critical Issues and Challenges

Stock Market Development in Sub Saharan Africa  Critical Issues and Challenges Author Charles Amo Yartey
ISBN-10
Release 2007-08-01
Pages 33
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This paper examines the economic importance of stock markets in Africa. It discusses policy options for promoting the development of the stock market in Africa. The results of the paper show that the stock markets have contributed to the financing of the growth of large corporations in certain African countries. An econometric investigation of the impact of stock markets on growth in selected African countries, however, finds inconclusive evidence even though stock market value traded seem to be positively and significantly associated with growth. African stock exchanges now face the challenge of integration and need better technical and institutional development to address the problem of low liquidity. Preconditions for successful regional approaches include the harmonization of legislations such as bankruptcy and accounting laws and a liberalized trade regime. Robust electronic trading systems and central depository systems will be important. Further domestic financial liberalization such as steps to improve the legal and accounting framework, private sector credit evaluation capabilities, and public sector regulatory oversight would also be beneficial.



Juggernaut

Juggernaut Author Uri B. Dadush
ISBN-10 9780870032615
Release 2011
Pages 257
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Against the long sweep of economic history, the current moment is special. Living standards advanced so rapidly and across so many countries over the last decade that it is difficult to think of parallels ?even the deepest recession since the Great Depression did not halt progress. In Juggernaut, Uri Dadush and William Shaw explore the rise of developing countries and how they will reshape the economic landscape. Dadush and Shaw project that the global economy will more than triple over the next forty years and the advance of a large group of developing countries ?home to most of the world's population but seen as supplicants rather than trendsetters less than a generation ago ?will drive this improvement. The authors systematically examine the effects of this seismic shift on the main avenues of globalization ?trade, finance, migration, and the global commons ?and identify the policy options available to leaders in managing the transformation. In the years to come, the rise of emerging economies will likely enhance prosperity but also create great tensions that could slow the process or even stop it in its tracks. Juggernaut calls for leadership by the largest countries in managing these tensions, and underscores the need to cultivate a "global conscience."



African Perspectives on Trade and the WTO

African Perspectives on Trade and the WTO Author Patrick Low
ISBN-10 9781107174474
Release 2016-09-29
Pages 432
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Twenty-first century Africa is in a process of economic transformation, but challenges remain in areas such as structural reform, governance, commodity pricing and geopolitics. This book looks into key questions facing the continent, such as how Africa can achieve deeper integration into the rules-based multilateral trading system and the global economy. It provides a range of perspectives on the future of the multilateral trading system and Africa's participation in global trade and underlines the supportive roles that can be played by multilateral and regional institutions during such a rapid and uncertain transition. This volume is based on contributions to the Fourth China Round Table on WTO Accessions and the Multilateral Trading System, which took place just before the World Trade Organization's Tenth Ministerial Conference in Nairobi in December 2015.



Bond Markets in Africa

Bond Markets in Africa Author Mr. Yibin Mu
ISBN-10 9781475535846
Release 2013-01-14
Pages 53
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African bond markets have been steadily growing in recent years, but nonetheless remain undeveloped. African countries would benefit from greater access to financing and deeper financial markets. This paper compiles a unique set of data on corporate bond markets in Africa. It then applies an econometric model to analyze the key determinants of African government securities market and corporate bond market capitalization. Government securities market capitalization is directly related to better institutions and interest rate volatility, and inversely related to the fiscal balance, higher interest rate spreads, exchange rate volatility, and current and capital account openness. Corporate bond market capitalization is directly linked to economic size, the level of development of the economy and financial markets, better institutions, and interest rate volatility, and inversely related to higher interest rate spreads and current account openness. Policy implications follow.



Investment Strategies in Emerging Markets

Investment Strategies in Emerging Markets Author Saul Estrin
ISBN-10 1781956464
Release 2004-01-01
Pages 371
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"The book investigates foreign direct investment (FDI) strategies in four important emerging economies: Egypt, India, South Africa and Vietnam. These countries liberalized their economies in the 1990s with the intention of attracting greater FDI inflows. This book assesses whether they have been successful in achieving this goal. The authors adopt a comparative perspective and use a large enterprise survey plus three individual case studies in each country. They investigate the strategies of foreign direct investors focusing on the relationship between the investment climate, the mode of entry (acquisition, greenfield or joint venture), company performance, and spillovers to the host economy. The book outlines how the interactions between international businesses and the local policy environment influence the entry strategies of firms. Academics and researchers with an interest in international business, emerging markets, economic development and strategic management will find this book informative and insightful."--BOOK JACKET.