Financing Growth in the WAEMU Through the Regional Securities Market
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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- Thorsten Beck & Samuel Munzele Maimbo & Issa Faye & Thouraya Triki, 2011.
"Financing Africa : Through the Crisis and Beyond,"
World Bank Publications,
The World Bank, number 2355, October.
- Michael Mbate, 2013. "Domestic Debt, Private Sector Credit and Economic Growth in Sub-Saharan Africa," African Development Review, African Development Bank, vol. 25(4), pages 434â446.
- Ermal Hitaj & Yasin Kursat Onder, 2013. "Fiscal Discipline in WAEMU: Rules, Institutions, and Markets," IMF Working Papers 13/216, International Monetary Fund.
- Yibin Mu & Peter Phelps & Janet Gale Stotsky, 2013. "Bond Markets in Africa," IMF Working Papers 13/12, International Monetary Fund.
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