Bond Markets in Africa
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Chinn, Menzie D. & Ito, Hiro, 2006.
"What matters for financial development? Capital controls, institutions, and interactions,"
Journal of Development Economics, Elsevier, vol. 81(1), pages 163-192, October.
- Menzie D. Chinn & Hiro Ito, 2005. "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," NBER Working Papers 11370, National Bureau of Economic Research, Inc.
- Chinn, Menzie David & Ito, Hiro, 2005. "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," Santa Cruz Department of Economics, Working Paper Series qt5pv1j341, Department of Economics, UC Santa Cruz.
- Chinn,M.D. & Ito,H., 2005. "What matters for financial development? : capital controls, institutions, and interactions," Working papers 4, Wisconsin Madison - Social Systems.
- Chinn, Menzie David & Ito, Hiro, 2005. "What Matters for Financial Development? Capital Controls, Institutions, and Interactions," Santa Cruz Center for International Economics, Working Paper Series qt5pv1j341, Center for International Economics, UC Santa Cruz.
- Hansen, Lars Peter, 1982. "Large Sample Properties of Generalized Method of Moments Estimators," Econometrica, Econometric Society, vol. 50(4), pages 1029-1054, July.
- Joshua Felman & Simon Gray & Mangal Goswami & Andreas A. Jobst & Mahmood Pradhan & Shanaka Peiris & Dulani Seneviratne, 2014.
"ASEAN-5 bond market development: Where does it stand? Where is it going?,"
Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 28(1), pages 60-75, May.
- Mahmood Pradhan & Mr. Shanaka J Peiris & Mr. Mangal Goswami & Dulani Seneviratne & Mr. Joshua Felman & Andreas Jobst & Mr. Simon T Gray, 2011. "Asean Bond Market Development: Where Does it Stand? Where is it Going?," IMF Working Papers 2011/137, International Monetary Fund.
- Ms. Anastasia Guscina & Mr. Olivier D Jeanne, 2006. "Government Debt in Emerging Market Countries: A New Data Set," IMF Working Papers 2006/098, International Monetary Fund.
- Arellano, Manuel & Bover, Olympia, 1995.
"Another look at the instrumental variable estimation of error-components models,"
Journal of Econometrics, Elsevier, vol. 68(1), pages 29-51, July.
- M Arellano & O Bover, 1990. "Another Look at the Instrumental Variable Estimation of Error-Components Models," CEP Discussion Papers dp0007, Centre for Economic Performance, LSE.
- Barry Eichengreen & Pipat Luengnaruemitchai, 2006.
"Why doesn’t Asia have bigger bond markets?,"
BIS Papers chapters, in: Bank for International Settlements (ed.), Asian bond markets: issues and prospects, volume 30, pages 40-77,
Bank for International Settlements.
- Barry Eichengreen & Pipat Luengnaruemitchai, 2004. "Why Doesn't Asia Have Bigger Bond Markets?," NBER Working Papers 10576, National Bureau of Economic Research, Inc.
- Eduardo Borensztein & Kevin Cowan & Barry Eichengreen & Ugo Panizza (ed.), 2008. "Bond Markets in Latin America: On the Verge of a Big Bang?," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262026325, December.
- T. S. Breusch & A. R. Pagan, 1980.
"The Lagrange Multiplier Test and its Applications to Model Specification in Econometrics,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 47(1), pages 239-253.
- Breusch, T.S. & Pagan, A.R., 1980. "The Lagrange multiplier test and its applications to model specification in econometrics," LIDAM Reprints CORE 412, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Blundell, Richard & Bond, Stephen, 1998.
"Initial conditions and moment restrictions in dynamic panel data models,"
Journal of Econometrics, Elsevier, vol. 87(1), pages 115-143, August.
- R Blundell & Steven Bond, "undated". "Initial conditions and moment restrictions in dynamic panel data model," Economics Papers W14&104., Economics Group, Nuffield College, University of Oxford.
- Blundell, R. & Bond, S., 1995. "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models," Economics Papers 104, Economics Group, Nuffield College, University of Oxford.
- Richard Blundell & Stephen Bond, 1995. "Initial conditions and moment restrictions in dynamic panel data models," IFS Working Papers W95/17, Institute for Fiscal Studies.
- Morris Goldstein, 1998. "The Asian Financial Crisis," Policy Briefs PB98-1, Peterson Institute for International Economics.
- Morris Goldstein, 1998. "Asian Financial Crisis: Causes, Cures and Systemic Implications, The," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa55, April.
- Issa Faye & Thorsten Beck & Thouraya Triki & Samuel Munzele Maimbo, 2011.
"Financing Africa : Through the Crisis and Beyond,"
World Bank Publications - Books,
The World Bank Group, number 2355.
- Beck, T.H.L. & Munzele Maimbo, S. & Faye, I. & Triki, T., 2011. "Financing Africa : Through the crisis and beyond," Other publications TiSEM 334b6bd2-a7a6-47d5-be82-3, Tilburg University, School of Economics and Management.
- Mrs. Poonam Gupta & Mr. Thierry Tressel & Ms. Enrica Detragiache, 2005. "Finance in Lower Income Countries: An Empirical Exploration," IMF Working Papers 2005/167, International Monetary Fund.
- John D. Burger & Francis E. Warnock, 2006.
"Local Currency Bond Markets,"
IMF Staff Papers, Palgrave Macmillan, vol. 53(si), pages 1-7.
- John D. Burger & Francis E. Warnock, 2006. "Local Currency Bond Markets," NBER Working Papers 12552, National Bureau of Economic Research, Inc.
- Mihasonirina Andrianaivo & Charles Amo Yartey, 2009. "Understanding the growth of african financial markets," Post-Print halshs-00422047, HAL.
- Burger, John D. & Warnock, Francis E., 2007.
"Foreign participation in local currency bond markets,"
Review of Financial Economics, Elsevier, vol. 16(3), pages 291-304.
- John D. Burger & Francis E. Warnock, 2007. "Foreign participation in local currency bond markets," Review of Financial Economics, John Wiley & Sons, vol. 16(3), pages 291-304.
- John D. Burger & Francis E. Warnock, 2004. "Foreign participation in local-currency bond markets," International Finance Discussion Papers 794, Board of Governors of the Federal Reserve System (U.S.).
- John D. Burger & Francis E. Warnock, 2006. "Foreign Participation in Local Currency Bond Markets," NBER Working Papers 12548, National Bureau of Economic Research, Inc.
- Olatundun Janet Adelegan & Bozena Radzewicz-Bak, 2009. "What Determines Bond Market Development in Sub-Saharan Africa?," IMF Working Papers 2009/213, International Monetary Fund.
- Sandrine Kablan, 2009. "Banking Efficiency and Financial Development in Sub-Saharan Africa (SSA)," The African Finance Journal, Africagrowth Institute, vol. 11(2), pages 28-50.
- Mame Astou Diouf & Mr. Francois Boutin-Dufresne, 2012. "Financing Growth in the WAEMU Through the Regional Securities Market: Past Successes and Current Challenges," IMF Working Papers 2012/249, International Monetary Fund.
- Ugo Panizza, 2008. "Domestic And External Public Debt In Developing Countries," UNCTAD Discussion Papers 188, United Nations Conference on Trade and Development.
- Charles Komla Adjasi & Charles Amo Yartey, 2007. "Stock Market Development in Sub-Saharan Africa: Critical Issues and Challenges," IMF Working Papers 2007/209, International Monetary Fund.
- S M Ali Abbas & Jakob E Christensen, 2010. "The Role of Domestic Debt Markets in Economic Growth: An Empirical Investigation for Low-Income Countries and Emerging Markets," IMF Staff Papers, Palgrave Macmillan, vol. 57(1), pages 209-255, April.
- Mihasonirina Andrianaivo & Charles Amo Yartey, 2009. "Understanding the Growth of African Financial Markets," IMF Working Papers 2009/182, International Monetary Fund.
- Hovhannes Toroyan & Mr. George C Anayiotos, 2009. "Institutional Factors and Financial Sector Development: Evidence from Sub-Saharan Africa," IMF Working Papers 2009/258, International Monetary Fund.
- Mr. Calvin A McDonald & Miss Liliana B Schumacher, 2007. "Financial Deepening in Sub-Saharan Africa: Empirical Evidence on the Role of Creditor Rights Protection and Information Sharing," IMF Working Papers 2007/203, International Monetary Fund.
- Mr. S. M. Ali Abbas & Mr. Jakob E Christensen, 2007. "The Role of Domestic Debt Markets in Economic Growth: An Empirical Investigation for Low-Income Countries and Emerging Markets," IMF Working Papers 2007/127, International Monetary Fund.
- Manuel Arellano & Stephen Bond, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
The Review of Economic Studies, Review of Economic Studies Ltd, vol. 58(2), pages 277-297.
- Tom Doan, "undated". "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- Russ, Katheryn N. & Valderrama, Diego, 2012. "A theory of bank versus bond finance and intra-industry reallocation," Journal of Macroeconomics, Elsevier, vol. 34(3), pages 652-673.
- Mr. Simon T Gray & Andreas Jobst & Mr. Joshua Felman & Ana Carvajal, 2011. "Developing Asean5 Bond Markets: What Still Needs to Be Done?," IMF Working Papers 2011/135, International Monetary Fund.
- Stijn Claessens & Daniela Klingebiel & Sergio L. Schmukler, 2007. "Government Bonds in Domestic and Foreign Currency: the Role of Institutional and Macroeconomic Factors," Review of International Economics, Wiley Blackwell, vol. 15(2), pages 370-413, May.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Smaoui, Houcem & Grandes, Martin & Akindele, Akintoye, 2017. "The Determinants of Bond Market Development: Further Evidence from Emerging and Developed Countries," Emerging Markets Review, Elsevier, vol. 32(C), pages 148-167.
- Dennis Essers & Hans J. Blommestein & Danny Cassimon & Perla Ibarlucea Flores, 2016.
"Local Currency Bond Market Development in Sub-Saharan Africa: A Stock-Taking Exercise and Analysis of Key Drivers,"
Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(5), pages 1167-1194, May.
- Essers, Dennis & Blommestein, Hans & Cassimon, Danny & Ibarlucea Flores, Perla, 2014. "Local currency bond market development in Sub-Saharan Africa: a stock-taking exercise and analysis of key drivers," IOB Working Papers 2014.08, Universiteit Antwerpen, Institute of Development Policy (IOB).
- Essers, Dennis & Blommestein, Hans & Cassimon, Danny & Ibarlucea Flores, Perla, 2015. "Local currency bond market development in Sub-Saharan Africa: A stock-taking exercise and analysis of key drivers," MPRA Paper 65320, University Library of Munich, Germany, revised Jun 2015.
- Thumrongvit, Patara & Kim, Yoonbai & Pyun, Chong Soo, 2013. "Linking the missing market: The effect of bond markets on economic growth," International Review of Economics & Finance, Elsevier, vol. 27(C), pages 529-541.
- Fløgstad, Cathrin, 2017. "Domestic bond markets in emerging economies: Crowding in or crowding out?," Working Papers in Economics 15/17, University of Bergen, Department of Economics.
- Jamel Boukhatem, 2021. "What drives local currency bond market development in Saudi Arabia: do macroeconomic and institutional factors matter?," Future Business Journal, Springer, vol. 7(1), pages 1-18, December.
- Jean-Pierre Allegret & Sana Azzabi, 2014.
"Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier,"
Revue d’économie du développement, De Boeck Université, vol. 22(3), pages 27-68.
- Jean-Pierre Allegret & Sana Azzabi, 2014. "Intégration financière internationale et croissance économique dans les pays émergents et en développement : le canal du développement financier," Post-Print hal-01385944, HAL.
- Sylvester C. W. Eijffinger & Benedikt Goderis, 2008.
"The Effect of Monetary Policy on Exchange Rates during Currency Crises: the Role of Debt, Institutions, and Financial Openness,"
Review of International Economics, Wiley Blackwell, vol. 16(3), pages 559-575, August.
- Eijffinger, S.C.W. & Goderis, B.V.G., 2007. "The Effect of Monetary Policy on Exchange Rates During Currency Crises : The Role of Debt, Institutions and Financial Openness," Other publications TiSEM 8d560b2f-4f9a-4aae-b018-e, Tilburg University, School of Economics and Management.
- Eijffinger, S.C.W. & Goderis, B., 2007. "The Effect of Monetary Policy on Exchange Rates during Currency Crises; The Role of Debt, Institutions and Financial Openness," ERIM Report Series Research in Management ERS-2007-022-F&A, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
- Eijffinger, Sylvester & Goderis, Benedikt, 2007. "The Effect of Monetary Policy on Exchange Rates During Currency Crises: The Role of Debt, Institutions and Financial Openness," CEPR Discussion Papers 6217, C.E.P.R. Discussion Papers.
- Eijffinger, S.C.W. & Goderis, B.V.G., 2008. "The effect of monetary policy on exchange rates during currency crises : The role of debt, institutions and financial openness," Other publications TiSEM 4302d92e-464e-40f4-b67e-a, Tilburg University, School of Economics and Management.
- Eijffinger, S.C.W. & Goderis, B.V.G., 2007. "The Effect of Monetary Policy on Exchange Rates During Currency Crises : The Role of Debt, Institutions and Financial Openness," Discussion Paper 2007-18, Tilburg University, Center for Economic Research.
- Serkan Arslanalp & Tigran Poghosyan, 2016.
"Foreign Investor Flows and Sovereign Bond Yields in Advanced Economies,"
Journal of Banking and Financial Economics, University of Warsaw, Faculty of Management, vol. 2(6), pages 45-67, June.
- Mr. Serkan Arslanalp & Mr. Tigran Poghosyan, 2014. "Foreign Investor Flows and Sovereign Bond Yields in Advanced Economies," IMF Working Papers 2014/027, International Monetary Fund.
- Joyce, Joseph P., 2019.
"Partners, not debtors: The external liabilities of emerging market economies,"
Journal of Economic Behavior & Organization, Elsevier, vol. 157(C), pages 320-337.
- Joyce, Joseph, 2016. "Partners, Not Debtors: The External Liabilities of Emerging Market Economies," MPRA Paper 73880, University Library of Munich, Germany.
- Effiong, Ekpeno, 2015. "Financial Development, Institutions and Economic Growth: Evidence from Sub-Saharan Africa," MPRA Paper 66085, University Library of Munich, Germany.
- Taguchi, Hiroyuki, 2019. "The bond market development in Mongolia among Asian countries," MPRA Paper 95123, University Library of Munich, Germany.
- Olfa Berrich & Halim Dabbou & Mohamed Imen Gallali, 2022. "Over-the-counter market and corporate bond market development," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 47(2/3), pages 284-304.
- Olufemi Adewale Aluko & Muazu Ibrahim, 2020. "On the macroeconomic determinants of financial institutions development in sub-Saharan Africa," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 67(1), pages 69-85, March.
- Kathrin Berensmann & Florence Dafe & Ulrich Volz, 2015. "Developing local currency bond markets for long-term development financing in Sub-Saharan Africa," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 31(3-4), pages 350-378.
- Asian Development Bank Institute, 2017. "Asia Bond Monitor - November 2016," Working Papers id:11732, eSocialSciences.
- Hartwell, Christopher A., 2014. "The impact of institutional volatility on financial volatility in transition economies : a GARCH family approach," BOFIT Discussion Papers 6/2014, Bank of Finland, Institute for Economies in Transition.
- Danny Cassimon & Dennis Essers & Karel Verbeke, 2015. "What to do after the clean slate? Post-relief public debt sustainability and management," BeFinD Working Papers 0103, University of Namur, Department of Economics.
- Vassilis Tselios, 2008. "Income and educational inequalities in the regions of the European Union: Geographical spillovers under welfare state restrictions," Papers in Regional Science, Wiley Blackwell, vol. 87(3), pages 403-430, August.
- Endo, Tadashi, 2022. "Endogenous market development for government securities in lower-income economies," Emerging Markets Review, Elsevier, vol. 50(C).
- López-Laborda, Julio & Peña, Guillermo, 2016. "Is financial VAT neutral to financial sector size?," Economics Discussion Papers 2016-31, Kiel Institute for the World Economy (IfW Kiel).
More about this item
Keywords
WP; corporate bond; bond market development; credit market; African bond markets; corporate bonds; government securities; capitalization data; government securities market; bank interest; market database; set back corporate bond bond market; market estimation; corporate bond market capitalization; development lag; market result; government securities market market capitalization; market development lag; Securities markets; Market capitalization; Fiscal stance; Sub-Saharan Africa; Africa;All these keywords.
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfwpa:2013/012. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.