Front Matter
  • 1 0000000404811396https://isni.org/isni/0000000404811396International Monetary Fund

Front Matter Page

African Department

Contents

  • I. Introduction

  • II. Literature Review

  • III. Current Situation of Government Securities and Corporate Bond Markets in Sub-Saharan Africa

  • IV. Analytical Framework

  • V. Empirical Findings

  • VI. Concluding Findings and Policy Implications

  • Tables

  • 1. Countries in the Sample, Definition of Variables and Sources

  • 2. Sub-Saharan Africa Corporate Bond Market Database, 1980–2010

  • 3. Descriptive Statistics, 1980–2010

  • 4. Bond Market Capitalization Comparison, 2010

  • 5. Sub-Saharan African Bond Market Capitalization, 2006–10

  • 6. Sub-Saharan African Bond Market Capitalization, 1990–2000 and 2001–10

  • 7a. Correlation Matrix (Government Securities Market Sample)

  • 7b. Correlation Matrix (Corporate Bond Market Sample)

  • 8a. Determinants of Government Securities Markets

  • 8b. Determinants of Government Securities Markets

  • 9a. Determinants of Corporate Bond Markets

  • 9b. Determinants of Corporate Bond Markets

  • 10. Sample Sensitivity Analysis

  • Figures

  • 1. Bond Markets Comparison, 2010

  • 2. Government Securities Markets Development, 2006–10

  • 3. Corporate Bond Markets Development, 2006–10

  • 4. Bond Market Capitalizations, 1989–2010

  • 5. Active Corporate Bond Markets, 1980–2010

  • 6. Government: Economic Size and Capitalization

  • 7. Corporate: Economic Size and Capitalization

  • 8. Government: Exports and Capitalization

  • 9. Corporate: Exports and Capitalization

  • 10. Government: Credit and Capitalization

  • 11. Corporate: Credit and Capitalization

  • 12. Government: Spread and Capitalization

  • 13. Corporate: Spread and Capitalization

  • 14. Government: Interest Rate Volatility and Capitalization

  • 15. Corporate: Interest Rate Volatility and Capitalization

  • 16. Government: Exchange Rate Volatility and Capitalization

  • 17. Corporate: Exchange Rate Volatility and Capitalization

  • 18. Government: Capital Openness and Capitalization

  • 19. Corporate: Capital Openness and Capitalization

  • 20. Government: Fiscal Balance and Capitalization

  • 21. Corporate: Fiscal Balance and Capitalization

  • 22. Government: GDP per Capita and Capitalization

  • 23. Corporate: GDP per Capita and Capitalization

  • 24. Government: Law and Order and Capitalization

  • 25. Corporate: Law and Order and Capitalization

  • 26. Government: Corruption and Capitalization

  • 27. Corporate: Corruption and Capitalization

  • 28. Government: Legal Origin and Capitalization

  • 29. Corporate: Legal Origin and Capitalization

  • 30. Government: Investment Profile and Capitalization

  • 31. Corporate: Investment Profile and Capitalization

  • 32. Government: Bureaucracy and Capitalization

  • 33. Corporate: Bureaucracy and Capitalization

  • 34. Government: Area and Capitalization

  • 35. Corporate: Area and Capitalization

  • 36. Government: Composite Risk and Capitalization

  • 37. Corporate: Composite Risk and Capitalization

  • References

Bond Markets in Africa
Author: Mr. Yibin Mu, Mr. Peter Phelps, and Ms. Janet Gale Stotsky