SSRN-Understanding the Growth of African Financial Markets by Mihasonirina Andrianaivo, Charles Amo Yartey

SSRN-Understanding the Growth of African Financial Markets by Mihasonirina Andrianaivo, Charles Amo Yartey: "This paper examines empirically the determinants of financial market development in Africa with an emphasis on banking systems and stock markets. The results show that income level, creditor rights protection, financial repression, and political risk are the main determinants of banking