Financing growth in the WAEMU through the regional securities market : past successes and current challenges

Mame Astou Diouf and François Boutin-Dufresne

The West African Economic and Monetary Union (WAEMU) regional securities market saw increasing activity in the last decade, but still fell short of supplying sufficient long-term financing for growth-enhancing public and private investment projects. In addition to providing an institutional background, this paper studies recent developments and the determinants of interest rates on the market?using yield curve and principal component analyses. It also identifies challenges and prospective reforms that could help the region reap the full benefits of a more dynamic securities market and assesses

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Year of publication:	2012
Authors:	Diouf, Mame Astou ; Boutin-Dufresne, François
Publisher:	Washington, DC : Internat. Monetary Fund
Subject:	Finanzmarkt \| Financial market \| CFA-Franc-Zone \| CFA franc zone

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Extent:	Online-Ressource (PDF-Datei: 21 S., 1,316 KB) graph. Darst.
Series:	IMF working papers. - Washington, DC : IMF, ZDB-ID 2108494-4. - Vol. 12/249 IMF Working Papers
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Includes bibliographical references Systemvoraussetzungen: Acrobat Reader Cover; Contents; I. Introduction; II. Institutional Framework and Market Instruments; Figures; Figure 1. Organigram of the WAEMU Securities Market; III. Recent Developments; Figure 2. WAEMU: Issuance of Debt Securities, 2001-10; Tables; Table 1. WAEMU: Government Debt Issues, 2010; Table 2. WAEMU: Issuance of Long-Term Securities, 1999-2010; IV. Determinants of Interest Rates: Yield Curve and Principal Component Analysis; Table 3. WAEMU Countries' Sovereign Debt Ratings; Figure 3. WAEMU: Determinants of T-bills' Interest Rates, 2010 Figure 4. WAEMU: Government Issues Profiling Using Principal Component Analysis, 2010V. Challenges Ahead; VI. Conclusion and Policy Recommendations; References; Annex 1. Issuers on the WAEMU Bond Market; Table 1. WAEMU: Issues of Securities, 2001-2010; Annex 2. Principal Component Analysis: Detailed Results for Government Securities Issued in 2010; Figure 1. WAEMU: PCA on Government Securities, 2010 Electronic reproduction; Available via World Wide Web
ISBN:	978-1-4755-4820-4 ; 978-1-4755-6390-0 ; 978-1-4755-4820-4
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10009659805