Saturday, November 30, 2013
Financial Regulation in Africa
I neglected to mention this book when I first learned about it, Financial Regulation in Africa, by Iwa Salami.
It is published by Ashgate and the ebook is available. It is the first book to compile and outline markets laws in Africa.
This is a huge step toward filling the gap in the legal literature about financial markets in Africa. For many focused on Africa- researchers, investors, business people, this will pave the road for a better understanding of emerging and frontier capital markets. the focus of the book is integration of those markets.
Integration is an immensely interesting area for markets in Africa since so many are small and illiquid. Economies of scale argue for a combination of efforts to achieve efficiency for investors and the markets themselves. Integration however requires political will. Capital markets can be a thing of pride- a declaration that the country is "Open for Business." Integration requires a sacrifice of individual identity to a group identity. There seem to be many obstacles to integration particularly in sub-Saharan African markets.
Professor Salami has done a great service to researchers in the field and I cannot wait for my book to arrive! ...even though it is a little late!!