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Small African Stock Markets—The Case of the Lusaka Stock Exchange
Author:
Ms. Heloisa Marone null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2003: Issue 006
Language:
English
Publication Date:
01 Jan 2003
DOI:
https://doi.org/10.5089/9781451842319.001
ISBN:
9781451842319
ISSN:
1018-5941
Pages:
28
Keywords:
WP; firm; investor; market; managed firm; yield; Financial Development; Stock Market; Small Economies; Zambia; rate of return; LuSE aggregate performance indicator; investor interest; Zambia's Lusaka Stock Exchange; nonpublic share; trading activity of the LuSE; investor category; foreigner investors trading; allocation decision; savings rate; investment manager; risk-averse investor; Stock markets; Stocks; Mutual funds; Capital markets; Liquidity; Sub-Saharan Africa; Global; Southern Africa; East Africa; Africa
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund