This paper considers the pros and cons of establishing stock markets in sub-Saharan African economies at the present stage of their development. It provides theoretical analysis and empirical evidence from both developing and advanced countries to argue that for many African countries such a...

The article is a critical commentary on the World Bank's analysis of state-owned enterprises (SOEs), as exemplified in its recently-published Report, Bureaucrats in Business. While noting the positive contributions made by the Report, the article criticises the World Bank's understanding of the...