Suchergebnisse

AbstractThis paper assesses and compares the impact of internationalisation on the economic performance of firms in the banking sector in Namibia and Tanzania. With the aid of financial ratios and econometric analysis, measures of efficiency are used as proxies for overall economic performance and comparisons are made. In Namibia, the market is more concentrated than in Tanzania, all the foreign banks are from one country, and they have had a presence in the country for a long time. In Tanzania, the market is less concentrated than in Namibia, foreign entry is from a number of countries and has been more recent. The study finds that in Namibia, all the foreign banks are larger but more inefficient than domestically owned banks. In Tanzania, foreign banks are more efficient than domestic banks. These results suggest that the generation of foreign entry and industry structure are significant determinants of positive spillovers of internationalisation. They also indicate that the type of foreign entrant, not, just foreign entry determines the impact on efficiency and the competitive landscape. Copyright © 2008 John Wiley & Sons, Ltd.

There is reasonable agreement that effective and well-developed institutions have a significant role to play in economic development. Accordingly a number of studies have attempted to relate institutions to the rate of economic growth and the level of efficiency of markets. This paper assesses the relationship between a number of economic development and institutional variables and the level of financial market development in the Middle East and north Africa (MENA) region. Correlation matrices support the view that the institutional environment in which financial markets function is important, as this reinforces the efficient allocation of economic rights that are essential for markets to function optimally. The correlation analysis also establishes a link between the development of financial markets and governance in the MENA region. However, regression estimates indicate that infrastructure development and the degree of openness of an economy are the most robust indicators for the development and effective functioning of financial markets in the MENA region.

Die Autoren gehen der Frage nach, ob Börsen in Entwicklungsländern die wirtschaftlichen Grundstrukturen der jeweiligen Staaten wiederspiegeln und damit eine wichtige Rolle in der Allokation von Kapital spielen oder ob sie eher nur spekulative Kapitalbewegungen reflektieren. Am Beispiel von drei Staaten wird untersucht, ob sowohl heimische als auch externe, ausländische wirtschaftliche Faktoren die reale Börsenentwicklung beeinflussen. Ergebnis: Während in allen drei Fällen das heimische Wirtschaftswachstum die Börse beeinflusst und Variable wie Umfang, Offenheit, Marktorientierung des jeweiligen Landes wie auch Umfang und Liquidität der Börse selbst von Bedeutung sind, sind darüber hinaus keine allgemein gültigen Einflüsse festzustellen. Externe wirtschaftliche Variable scheinen eher den Außenhandel als internationale Kapitalbewegungen zu beeinflussen, was auf eine nur geringe Integration dieser Kapitalmärkte hindeutet. (DÜI-Hlb)