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

January 1, 2003

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Format: Chicago

Heloisa Marone. Small African Stock Markets—The Case of the Lusaka Stock Exchange, (USA: International Monetary Fund, 2003) accessed September 20, 2024

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.

Subject: Asset and liability management, Capital markets, Financial institutions, Financial markets, Liquidity, Mutual funds, Stock markets, Stocks

Keywords: Africa, Allocation decision, Capital markets, East Africa, Financial Development, Firm, Foreigner investors trading, Global, Investment manager, Investor, Investor category, Investor interest, Liquidity, LuSE aggregate performance indicator, Managed firm, Market, Mutual funds, Nonpublic share, Rate of return, Risk-averse investor, Savings rate, Small Economies, Southern Africa, Stock Market, Stock markets, Stocks, Sub-Saharan Africa, Trading activity of the LuSE, WP, Yield, Zambia, Zambia's Lusaka Stock Exchange

Publication Details

Pages:

28
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2003/006
Stock No:

WPIEA0062003
ISBN:

9781451842319
ISSN:

1018-5941

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