Financing Growth in the WAEMU Through the Regional Securities Market: Past Successes and Current Challenges
AbstractThe West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional background, this paper studies recent developments and the determinants of interest rates on the marketâ€”using yield curve and principal component analyses. It also identifies challenges and prospective reforms that could help the region reap the full benefits of a more dynamic securities market and assesses the potential systemic risk the market may pose for the regionâ€™s banking system.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 12/249.
Date of creation: 18 Oct 2012
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This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-16 (All new papers)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Beck, T.H.L. & Munzele Maimbo, S. & Faye, I. & Triki, T., 2011.
"Financing Africa: Through the crisis and beyond,"
Open Access publications from Tilburg University
urn:nbn:nl:ui:12-4758568, Tilburg University.
- Yibin Mu & Peter Phelps & Janet Gale Stotsky, 2013. "Bond Markets in Africa," IMF Working Papers 13/12, International Monetary Fund.
- Ermal Hitaj & Yasin Kursat Onder, 2013. "Fiscal Discipline in WAEMU: Rules, Institutions, and Markets," IMF Working Papers 13/216, International Monetary Fund.
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