TY  - CHAP
AB  - Abstract This paper investigates the impact of the development of capital markets on economic growth in Africa and reports a significant increase in real GDP per capita after stock exchanges are established. This paper also reveals that there are significant improvements in the level of private investments in the post stock market launch era. The results also indicate that stock markets play a complementary role to the banking sector by contributing to the availability of private credit. Although African capital markets are relatively less advanced when compared to capital markets on other continents (particularly in terms of technology, structure, and liquidity), we find that their establishment has been crucial in helping African countries catch up with the rest of the world.
VL  - 18
SN  - 978-1-78560-355-6, 978-1-78560-354-9/1569-3732
DO  - 10.1108/S1569-373220150000018008
UR  - https://doi.org/10.1108/S1569-373220150000018008
AU  - Francis Bill B.
AU  - Hasan Iftekhar
AU  - Ofori Eric
PY  - 2015
Y1  - 2015/01/01
TI  - Investor Protections, Capital Markets, and Economic Growth: The African Experience
T2  - International Corporate Governance
T3  - Advances in Financial Economics
PB  - Emerald Group Publishing Limited
SP  - 239
EP  - 272
Y2  - 2024/04/25
ER  -