Economic Factors: The Technocratic Rationale for African Stock Markets

Todd Moss

Chapter 2 in Adventure Capitalism, 2003, pp 21-39 from Palgrave Macmillan

Abstract: Abstract Given the range of developmental challenges that Africa faces, it is not unreasonable to ask why stock markets might all of the sudden have become so popular? And since every African exchange that has opened in recent years has done so at the instigation of the government, it might be worth narrowing that question to, why have politicians and policymakers in particular become so enthusiastic? Indeed, with the exception of the long-established markets, such as Zimbabwe and Kenya, African exchanges still rely on public funds to, directly or indirectly, subsidize their operating costs. This suggests that not only have government officials prioritized the establishment of bourses, but have also committed scarce public resources to their operation, often times still needing that financial crutch more than a decade after opening. Surely, there must therefore be good reasons for such a strong embrace and support for stock markets by cash-strapped governments.

Keywords: Stock Market; Stock Exchange; Private Equity; Equity Market; Foreign Capital (search for similar items in EconPapers)
Date: 2003
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-55478-8_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230554788

DOI: 10.1057/9780230554788_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().