Series: IMF Working Papers
Author(s): Mihasonirina Andrianaivo , and Charles Amo Yartey
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 August 2009
Keywords: Political Risk, stock market, stock market development, capital account liberalization, stock market capitalization, Financial Institutions and Services: General, Financial Institutions and Services: Government Policy and Regulation, Economywide Country Studies: Africa,
This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, fina...