This study addresses the key research question of whether differences in financial development are significantly associated with differences in economic growth for 13 African countries using panel data from 1984 to 2002. ...

The importance of market microstructure in determining the success of a bonds market in allocating financial resources depends on the degree to which the microstructure elements have been designed to determine the proper ...

This study looks at the structure of interest rates in the banking sector in Kenya. It covers interest rates in the money market and the banking institutions in the post-reform period. Results show a significant relationship ...

This paper examines the determinants of interest spread in Kenya using micro level data. Panel data analysis is used with a sample of 36 banks covering the period 1998-2002. Results show that wide interest spreads are ...

Liquidity of the stock market is vital if the market is to play a significant role in the development by facilitating mobilisation of long-term capital. During the revitalisation period, a lot of efforts have been made ...

This paper explores the evolutionary process of the stock market in Kenya and identifies the institutional and policy changes that have shaped the development pattern of the Nairobi Stock Exchange (NSE). A historical ...