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Financing Growth in the WAEMU Through the Regional Securities Market: Past Successes and Current Challenges

Oct 18, 2012 | M.A. Diouf, F. Boutin-Dufresne | IMF
This paper studies recent developments and the determinants of interest rates on the West African Economic and Monetary Union (WAEMU) regional securities 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 the potential systemic risk the market may pose for the region’s banking system.