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Small African Stock Markets--The Case of the Lusaka Stock Exchange

Author/Editor: Marone, Heloisa
Authorized for Distribution: January 1, 2003
Electronic Access: Free Full Text (PDF file size is 1,023KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: In trend with a global pattern and following recommendations of the World Bank and the International Finance Corporation (IFC), the number of stock markets in African countries has increased dramatically over the last ten years. Despite a scarcity of studies on the impact of stock markets on these economies, some policymakers have been arguing in favor of stock exchanges (national or regional) in eastern and southern Africa. The creation of such exchanges may be a premature project as they might lack an actual economic rationale. The present case study, for instance, suggests that the Lusaka Stock Exchange (LuSE) has little effect on the larger Zambian economy.
 
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Series: Working Paper No. 03/6
Subject(s): Stock markets | Zambia
Author's keyword(s): Financial Development | Stock Market | Small Economies | Zambia
 
English  
    Published:   January 1, 2003        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA0062003   Pages:   28
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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