| Description |
1 online resource (31 pages) |
| Series |
IMF working paper ; WP/12/18 |
|
IMF working paper ; WP/12/18.
|
| Contents |
Cover; IMF Working Paper African Department Capital Market Integration: Progress Ahead of the East African Community Monetary Union Prepared by Masafumi Yabara[sup(1)] Authorized for distribution by Peter Allum January 2012; Abstract; I. INTRODUCTION; II. EAC CAPITAL MARKETS: STYLIZED FACTS; III. REGIONAL INITIATIVES TO INTEGRATE THE EAC CAPITAL MARKETS; IV. MEASURING CAPITAL MARKET INTEGRATION IN THE EAC; V. POLICY IMPLICATIONS FOR BETTER INTEGRATED CAPITAL MARKETS; VI. CONCLUSION; References |
| Summary |
Capital markets in the East African Community (EAC) face common challenges of low capitalization and liquidity, but to different degrees. EAC member countries have made noticeable progress in developing domestic capital markets through a regional approach, removing constraints on capital transactions and harmonizing market infrastructure. Nevertheless, empirical analysis suggests capital market integration has not deepened during the past few years in the EAC, although convergence of investment returns is taking place to some extent. Learning from the experience of the West African Economic and Monetary Union and the Association of Southeast Asian Nations, EAC countries would benefit from four actions to accelerate financial market integration: (i) further harmonize market infrastructure; (ii) strengthen regional surveillance mechanisms; (iii) encourage local currency bond issuance by multilateral financial institutions; and (iv) build the capacity of the existing regional institutions |
| Notes |
At head of title: African Department |
|
Title from PDF title page (IMF Web site, viewed January 25, 2012) |
|
"January 2012." |
| Bibliography |
Includes bibliographical references |
| Subject |
Monetary unions -- Africa, Eastern -- Econometric models
|
|
Capital market -- Africa, Eastern -- Econometric models
|
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Capital market -- Econometric models
|
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International economic integration
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Monetary unions -- Econometric models
|
| SUBJECT |
Africa, Eastern -- Economic integration
|
| Subject |
Eastern Africa
|
| Form |
Electronic book
|
| Author |
International Monetary Fund. African Department, issuing body.
|
| ISBN |
9781463971823 |
|
1463971826 |
|
9781463931230 |
|
1463931239 |
|
9781463948207 |
|
1463948204 |
|
