This central premise of this article is that the prevailing political economy has an influence on the content and orientation of the legal, regulatory and institutional framework for the public distribution of securities. Thus, the prevailing political economy determines the in-ward or outward...

The preferential trade agreement of Common Market of Eastern and Southern Africa (COMESA) was formed in 1982 with the objective of achieving deeper integration. In 1994 COMESA member states agreed to form a free trade agreement. The free trade agreement came into effect after nine member states...

This paper uses VAR techniques to investigate the potential for forming monetary unions in Eastern and Southern Africa. All countries in the sample are members of various regional economic organizations. Some of the organizations have a monetary union as an immediate objective whereas others...

This paper assesses whether regional cooperation and integration of stock exchanges in eastern and southern Africa could offer a way of overcoming impediments to the exchanges'' development. The paper concludes that regional cooperation and, at a later stage, integration, if carried out at the...

The IMF Working Papers series is designed to make IMF staff research available to a wide audience. Almost 300 Working Papers are released each year, covering a wide range of theoretical and analytical topics, including balance of payments, monetary and fiscal issues, global liquidity, and...