Regional Integration of Stock Exchanges in Eastern and Southern Africa: Progress and Prospects

Regional Integration of Stock Exchanges in Eastern and Southern Africa: Progress and Prospects

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This paper assesses whether regional cooperation and integration of stock exchanges in eastern and southern Africa could offer a way of overcoming impediments to the exchanges' development. The paper concludes that regional cooperation and, at a later stage, integration, if carried out at the right pace and in a pragmatic way, could improve the liquidity, efficiency, and competitiveness of these exchanges. Further progress in developing national financial markets must precede any actual moves to integrate securities markets. These exchanges could meanwhile benefit from closer cooperation, including by encouraging more crossborder listings and information/technology sharing.I. INTRODUCTION Most of the national exchanges in southern and eastern Africa are relatively new, operating since the late 1980s and 1990s. This recent proliferation of stock exchanges tended to coincide with a new policy emphasis on privatization of large stakes in ... issue securities, and a lack of public awareness of the benefits of investing in shares among those with the financial means to do so.


Title:Regional Integration of Stock Exchanges in Eastern and Southern Africa: Progress and Prospects
Author: Jacqueline Irving
Publisher:International Monetary Fund - 2005-06-01
ISBN-13:

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