Advanced Search
MyIDEAS: Login

Securities Markets And Social Capital Integration In Africa: Risks And Policy Options

Contents:

Author Info

  • GODWIN NWAOBI

    (QUANTITATIVE ECONOMIC RESEARCH BUREAU,NIGERIA)

Abstract

The need to develop securities market has, following the recent international financial crises, increasingly attracted the attention of national and international policy makers. Never before have developed and developing countries shared such a strong interest in ensuring the stable growth of the international capital flows. And yet, the question for policymakers is how to channel these gains into investments that promote development, sustainable poverty reduction and social equity. Using the African scenario, this paper argued that although many of the institutions needed for strong income growth and asset accumulation are equally important in fostering social assets, the institutional underpinnings of sustainable development are somewhat broader. They rest on greater access to information and knowledge and the ability to form broader partnerships. Without these additional institutional elements, society risks fragmentation that imperil both income growth and wellbeing. Nothing that market exchange plays a larger role in africa, we also argued that the presence of transactions costs naturally leads market participants to enter in long-term trading relationships(and these relationships form business networks that shape market outcomes) with minimum risks. However,when societies become more equitable in ways that lead to greater opportunites for all,the poor stand to benefit from a 'double dividend'.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://128.118.178.162/eps/fin/papers/0512/0512019.pdf
Download Restriction: no

Bibliographic Info

Paper provided by EconWPA in its series Finance with number 0512019.

as in new window
Length: 49 pages
Date of creation: 19 Dec 2005
Date of revision:
Handle: RePEc:wpa:wuwpfi:0512019

Note: Type of Document - pdf; pages: 49. THIS IS A RESEARCH PAPER FOR EXPERTISE COMMENTS
Contact details of provider:
Web page: http://128.118.178.162

Related research

Keywords: SECURITIES; SOCIAL CAPITAL; MARKETS; PORTFOLIO; AFRICAN ECONOMY; INSTITUTIONS; RISKS; BONDS; TREASURY BILLS; STOCKS; DEBENTURES; STOCKEXHANGE; AUCTIONS INVESTMENTS; DEBT; MICROFINANCE; SOCIALSECURITY;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
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.:
as in new window
  1. Winter, Sidney G., 1995. "Small and medium-size enterprises in economic development : possiblities for research and policy," Policy Research Working Paper Series 1508, The World Bank.
  2. Claessens, S., 1993. "Risk Management in Developing Countries," Papers 235, World Bank - Technical Papers.
  3. Paul Collier & Jan Willem Gunning, 1997. "Explaining African economic performance," CSAE Working Paper Series 1997-02.2, Centre for the Study of African Economies, University of Oxford.
  4. Gallant, A. Ronald & Hansen, Lars Peter & Tauchen, George, 1990. "Using conditional moments of asset payoffs to infer the volatility of intertemporal marginal rates of substitution," Journal of Econometrics, Elsevier, vol. 45(1-2), pages 141-179.
  5. Frankel, Jeffrey A, 1992. "Measuring International Capital Mobility: A Review," American Economic Review, American Economic Association, vol. 82(2), pages 197-202, May.
  6. Frankel, Jeffrey A., 1979. "The diversifiability of exchange risk," Journal of International Economics, Elsevier, vol. 9(3), pages 379-393, August.
  7. Otani, Ichiro & Villanueva, Delano, 1990. "Long-term growth in developing countries and its determinants: An empirical analysis," World Development, Elsevier, vol. 18(6), pages 769-783, June.
  8. Claessens, S. & Gooptu, S., 1993. "Portfolio Investment in Developing Countries," World Bank - Discussion Papers 228, World Bank.
Full references (including those not matched with items on IDEAS)

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpfi:0512019. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA).

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 references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.

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