| Description |
1 online resource (22 pages) |
| Series |
IMF working paper ; WP/12/249 |
|
IMF working paper ; WP/12/249.
|
| Contents |
Cover; Contents; I. Introduction; II. Institutional Framework and Market Instruments; Figures; Figure 1. Organigram of the WAEMU Securities Market; III. Recent Developments; Figure 2. WAEMU: Issuance of Debt Securities, 2001-10; Tables; Table 1. WAEMU: Government Debt Issues, 2010; Table 2. WAEMU: Issuance of Long-Term Securities, 1999-2010; IV. Determinants of Interest Rates: Yield Curve and Principal Component Analysis; Table 3. WAEMU Countries' Sovereign Debt Ratings; Figure 3. WAEMU: Determinants of T-bills' Interest Rates, 2010 |
|
Figure 4. WAEMU: Government Issues Profiling Using Principal Component Analysis, 2010V. Challenges Ahead; VI. Conclusion and Policy Recommendations; References; Annex 1. Issuers on the WAEMU Bond Market; Table 1. WAEMU: Issues of Securities, 2001-2010; Annex 2. Principal Component Analysis: Detailed Results for Government Securities Issued in 2010; Figure 1. WAEMU: PCA on Government Securities, 2010 |
| Summary |
The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional background, this paper studies recent developments and the determinants of interest rates on the market--using yield curve and principal component analyses. It also identifies challenges and prospective reforms that could help the region reap the full benefits of a more dynamic securities market and assesses the potential systemic risk the market may pose for the region's banking system |
| Notes |
Title from PDF title page (IMF Web site, viewed Oct. 25, 2012) |
| Bibliography |
Includes bibliographical references |
| Notes |
"African Department." |
|
"October 2012." |
|
English |
| Subject |
Securities -- Africa, West
|
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Investments -- Africa, West
|
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BUSINESS & ECONOMICS -- Finance.
|
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Securities
|
|
West Africa
|
| Form |
Electronic book
|
| Author |
Boutin-Dufresne, François, 1976-
|
|
International Monetary Fund. African Department.
|
| ISBN |
1475515707 |
|
9781475515701 |
|
1616357819 |
|
9781616357818 |
|
1475563906 |
|
9781475563900 |
|
