IDEAS home Printed from https://ideas.repec.org/p/unu/wpaper/wp-2022-112.html
   My bibliography  Save this paper

Capital markets in sub-Saharan Africa

Author

Listed:
  • Githinji Njenga
  • Josphat Machagua
  • Samwel Gachanja

Abstract

Capital markets facilitate capital growth by mobilizing savings and converting them into investments, and they are therefore a stimulant of economic growth. There is evidence that countries with high savings rates tend to grow faster. Although most sub-Saharan Africa countries recognize the importance of local capital markets and have made efforts to develop them, they have not fully reaped the expected benefits. Hence the need for interventions to accelerate capital market development.

Suggested Citation

  • Githinji Njenga & Josphat Machagua & Samwel Gachanja, 2022. "Capital markets in sub-Saharan Africa," WIDER Working Paper Series wp-2022-112, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2022-112
    as

    Download full text from publisher

    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2022-112-capital-markets-sub-Saharan-Africa.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Berhanu Nega & Geoffrey Schneider, 2011. "International Financial Institutions and Democracy in Africa: The Case for Political Conditionality and Economic Unconditionality," Journal of Economic Issues, Taylor & Francis Journals, vol. 45(2), pages 421-430.
    2. Kalu Ojah & Odongo Kodongo, 2016. "Does Infrastructure Really Explain Economic Growth in Sub-Saharan Africa?," Working Papers 653, Economic Research Southern Africa.
    3. Mr. Luc Laeven, 2014. "The Development of Local Capital Markets: Rationale and Challenges," IMF Working Papers 2014/234, International Monetary Fund.
    4. Jiyoung Kim, 2017. "Corporate financial structure of South Korea after Asian financial crisis: the chaebol experience," Journal of Economic Structures, Springer;Pan-Pacific Association of Input-Output Studies (PAPAIOS), vol. 6(1), pages 1-14, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Danny Cassimon & Dennis Essers & Karel Verbeke, 2015. "What to do after the clean slate? Post-relief public debt sustainability and management," BeFinD Working Papers 0103, University of Namur, Department of Economics.
    2. Abdulqadir, Idris A. & Asongu, Simplice A., 2022. "The asymmetric effect of internet access on economic growth in sub-Saharan Africa," Economic Analysis and Policy, Elsevier, vol. 73(C), pages 44-61.
    3. Dyna Heng & Anna Ivanova & Rodrigo Mariscal & Ms. Uma Ramakrishnan & Joyce Wong, 2016. "Advancing Financial Development in Latin America and the Caribbean," IMF Working Papers 2016/081, International Monetary Fund.
    4. Yselle F. Malah Kuete & Simplice A. Asongu, 2023. "Infrastructure Development as a Prerequisite for Structural Change in Africa," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1386-1412, June.
    5. Ayala, Diana & Nedeljkovic, Milan & Saborowski, Christian, 2017. "What slice of the pie? The corporate bond market boom in emerging economies," Journal of Financial Stability, Elsevier, vol. 30(C), pages 16-35.
    6. Michael Regan, 2017. "Capital Markets, Infrastructure Investment and Growth in the Asia Pacific Region," IJFS, MDPI, vol. 5(1), pages 1-28, February.
    7. Hülya Saygılı & K. Azim Özdemir, 2021. "Regional economic growth in Turkey: the effects of physical, social and financial infrastructure investment," Empirical Economics, Springer, vol. 60(4), pages 2039-2061, April.
    8. Andreasen, Eugenia & Valenzuela, Patricio, 2016. "Financial openness, domestic financial development and credit ratings," Finance Research Letters, Elsevier, vol. 16(C), pages 11-18.
    9. Abdulqadir, Idris & Asongu, Simplice, 2021. "The asymmetric effect of internet access on economic growth in sub-Saharan Africa: Insight from a dynamic panel threshold regression," MPRA Paper 109904, University Library of Munich, Germany.
    10. Zhiyang Shen & Vivian Valdmanis, 2022. "Assessing total factor productivity across Africa: an empirical investigation," Journal of Productivity Analysis, Springer, vol. 58(2), pages 239-253, December.
    11. Andrés Rodríguez-Pose & Callum Wilkie, 2018. "Strategies of gain and strategies of waste: What determines the success of development intervention?," Papers in Evolutionary Economic Geography (PEEG) 1826, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Jul 2018.
    12. Arbolino, Roberta & Yigitcanlar, Tan & L’Abbate, Pasqua & Ioppolo, Giuseppe, 2019. "Effective growth policymaking: Estimating provincial territorial development potentials," Land Use Policy, Elsevier, vol. 86(C), pages 313-321.
    13. Onesmus Mbaabu Mutiiria & Qingjiang Ju & Koffi Dumor, 2020. "Infrastructure and inclusive growth in sub-Saharan Africa: An empirical analysis," Progress in Development Studies, , vol. 20(3), pages 187-207, July.
    14. Aida Caldera Sánchez & Oliver Röhn, 2016. "How do policies influence GDP tail risks?," OECD Economics Department Working Papers 1339, OECD Publishing.
    15. Pedro Plasencia-Lozano, 2021. "An Ex Ante Analysis of the Planned Transportation Network in the Region of Extremadura (Spain) by Using Physical Parameters," Sustainability, MDPI, vol. 13(11), pages 1-32, May.
    16. Hans Genberg, 2015. "Capital market development and emergence of institutional investors in the Asia-Pacific region," Asia-Pacific Development Journal, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), vol. 22(2), pages 1-26, December.
    17. Suchi Malhotra & Howard White & Nina de la Cruz & Ashrita Saran & John Eyers & Denny John & Ella Beveridge & Nina Blöndal, 2021. "PROTOCOL: Evidence and gap map: studies of the effectiveness of transport sector interventions in low‐ and middle‐income countries," Campbell Systematic Reviews, John Wiley & Sons, vol. 17(1), March.
    18. Stungwa, Sanele & Daw, Olebogeng David, 2021. "Infrastructure development and population growth on economic growth in South Africa," MPRA Paper 110884, University Library of Munich, Germany.

    More about this item

    Keywords

    Capital market; Domestic savings; Investments; Saving and investment; Small and medium enterprises; Private sector;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:unu:wpaper:wp-2022-112. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Siméon Rapin (email available below). General contact details of provider: https://edirc.repec.org/data/widerfi.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.