The Johannesburg Stock Market and Stock Exchange, 1962–87

Stuart Jones

Chapter 12 in Financial Enterprise in South Africa since 1950, 1992, pp 273-301 from Palgrave Macmillan

Abstract: Abstract In the past quarter of a century the Johannesburg Stock Market has been transformed. This has occurred as a result of the growth in the volume of business, the growth in market capitalisation, the development of an active and massive market in gilts and the growth in the volume of new capital raised. Though small by the standards of the great stock exchanges of the northern hemisphere, smaller even than the exchanges of Zurich and Basel, the Johannesburg Stock Exchange by 1987 was the largest in the southern hemisphere in terms of market capitalisation, and far and away the largest in Africa. Moreover, because of its gold-mining base and the presence of some very large corporations, the Johannesburg Stock Exchange exerts an influence upon the world economy out of proportion to its size. This chapter will focus mainly upon the shares traded, the capital raised and the composition of the holders of securities.

Keywords: Market Capitalisation; Large Firm; Stock Exchange; Exchange Control; Real Term (search for similar items in EconPapers)
Date: 1992
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-11536-5_12

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DOI: 10.1007/978-1-349-11536-5_12

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