Abstract
This article seeks to put the law–finance–growth nexus into the context of Africa. As of 2017, the African Securities Exchanges Association has 27 securities exchanges as full members. The Johannesburg Stock Exchange is the most developed of all, especially with respect to its market capitalization. Its socio-legal proximity with the English system may provide a good explanation to its phenomenal growth relative to the rest in the region. However, such a socio-legal proximity is indeed shared by a number of other former British colonies such as Nigeria and Zimbabwe. Law alone may not account for the rise of the Johannesburg Stock Exchange. Furthermore, this article seeks to argue whether there is a genuine need for the African countries to have a stock market, which requires highly evolved legal, market and governmental institutions and norms that often do not pre-exist in these countries. On the one hand, the article will look at Africa in general. On the other hand, it will put certain discussions into the context of selected African countries.Citation
Huang, F. and Yeung, H., (2018). 'Law–finance–growth nexus in the context of Africa'. Law and Development Review, 11(2), pp.513-555.Publisher
De GruyterJournal
Law and Development ReviewDOI
10.1515/ldr-2018-0028Additional Links
http://repository.essex.ac.uk/id/eprint/21948https://www.degruyter.com/view/j/ldr.2018.11.issue-2/ldr-2018-0028/ldr-2018-0028.xml
Type
ArticleLanguage
enISSN
1943-3867EISSN
1943-3867ae974a485f413a2113503eed53cd6c53
10.1515/ldr-2018-0028