The Dynamics of Market Integration: African Stock Exchanges in the New Millennium

Kenneth Kaoma Mwenda

Jan 2000 · Universal-Publishers

About this ebook

This book looks at contemporary issues facing financial markets in Eastern and Southern Africa. The book addresses strategies for capital market integration and development on a region-wide basis. An argument is made that the establishment of a regional stock exchange and the promotion of multiple listings and cross-border trade in securities would stimulate increased liquidity on national stock exchanges in Eastern and Southern Africa. Lessons of experience are drawn from other regions and a case is made against transplanting models of a regional stock exchange from one region to another. The book argues that African countries may, however, use lessons of experience from other regions as points of reference, while pursuing their own discourse of self-determination. Each case is unique and is thus surrounded by different variables. The book covers developments in regions such as the European Union, francophone West Africa and Eastern and Southern Africa. Indeed, an international and comparative perspective is provided.

About the author

Before joining the World Bank, Dr. Kenneth Kaoma Mwenda served as full-time law lecturer at the University of Warwick. A Rhodes Scholar, he holds doctorate degrees in law & business administration & is a graduate of inter alia, the Universities of Oxford, Warwick, Hull & Zambia. He has also been recipient of a prestigious fellowship from Yale Law School.