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Law–Finance–Growth Nexus in the Context of Africa

  • Flora Huang and Horace Yeung EMAIL logo
Published/Copyright: April 26, 2018

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.

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Published Online: 2018-04-26
Published in Print: 2018-06-26

© 2018 Law and Development Review

Articles in the same Issue

  1. Frontmatter
  2. Introduction
  3. Mapping Law and Development from African Perspectives: An Overview
  4. Legal Pluralism and Effective Governance for Development in Africa
  5. The African Union Agenda 2063 and the Imperative of Democratic Governance
  6. Unpacking Legal Pluralism in Commonwealth Africa – Towards Strengthening Methods for Rule of Law Programming for Development
  7. Demand for Law in the African Private Sector
  8. OHADA and the Making of Transnational Commercial Law in Africa
  9. Corruption in Public Procurement in Lesotho
  10. Law and Industrial Promotion
  11. Law and Development: Lessons from South Korea
  12. Has it Reinvented Iron Law? South Africa’s Social Industrialisation, not Iron Industrialisation
  13. Law–Finance–Growth Nexus in the Context of Africa
  14. Inclusive Industrialization: The Interplay Between Investment Incentives and SME Promotion Policies in Sub-Saharan Africa
  15. Intellectual Property Rights for Development
  16. The Creative Industry and South African Intellectual Property Law
  17. Digital Rights Management System and Administration: A Wake-up Call for Nigeria!
  18. Enforcing Intellectual Property Rights in Nigerian Courts
  19. Poverty and Sustainable Development
  20. De-Growth and Sustainable Development: Rethinking Human Rights Law and Poverty Alleviation
  21. Macro Aid: Applying Microcredit’s Group Liability Principle to Foreign Aid
  22. Law as a Tool for Ensuring Contributions of Small-Scale Women Farmers to Food Security in Nigeria
  23. Law and Natural Resources
  24. The Protection and Promotion of a People’s Right to Mineral Resources in Africa: International and Municipal Perspectives
  25. Justifying Water Rights in Nigeria: Fiction or Achievable Panacea?
  26. Three Mining Charters and a Draft: How the Politics and Rhetoric of Development in the South African Mining Sector are Keeping Communities in Poverty
  27. Addressing Human Rights Concerns in the Extractive Resource Industry in Sub-Saharan Africa using the Lens of Article 46 (C) of the Malabo Protocol
  28. Wildlife Poaching and Rule of Law in Kenya
  29. Good Governance and Development in Botswana – The Democracy Conundrum
  30. Book Review
  31. Yong-Shik Lee: Reclaiming Development in the World Trading System
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