What Determines Bond Market Development in Sub-Saharan Africa?

Aug 01, 2009 | O.J. Adelegan, B. Radzewicz-Bak | IMF
This study carries out an empirical analysis of the determinants of bond market development in a cross section of 23 sub-Saharan African (SSA) countries between 1990 and 2008. It considers the stage of development and the size of the bond market, as well as the historical, structural, institutional and macroeconomic factors driving bond market development in SSA.