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Capital markets in sub-Saharan Africa

Author

Listed:
  • Githinji Njenga
  • Josphat Machagua
  • Samwel Gachanja

Abstract

Capital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although most sub-Saharan Africa countries recognize the importance of local capital markets and have made efforts to develop them, they have not fully reaped the expected benefits. Hence the need for interventions to accelerate capital market development.

Suggested Citation

  • Githinji Njenga & Josphat Machagua & Samwel Gachanja, 2022. "Capital markets in sub-Saharan Africa," WIDER Working Paper Series wp-2022-112, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2022-112
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    References listed on IDEAS

    as
    1. Berhanu Nega & Geoffrey Schneider, 2011. "International Financial Institutions and Democracy in Africa: The Case for Political Conditionality and Economic Unconditionality," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(2), pages 421-430.
    2. Kalu Ojah & Odongo Kodongo, 2016. "Does Infrastructure Really Explain Economic Growth in Sub-Saharan Africa?," Working Papers 653, Economic Research Southern Africa.
    3. Mr. Luc Laeven, 2014. "The Development of Local Capital Markets: Rationale and Challenges," IMF Working Papers 2014/234, International Monetary Fund.
    4. Jiyoung Kim, 2017. "Corporate financial structure of South Korea after Asian financial crisis: the chaebol experience," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 6(1), pages 1-14, December.
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    More about this item

    Keywords

    Capital market; Domestic savings; Investments; Saving and investment; Small and medium enterprises; Private sector;
    All these keywords.

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