Bond Issuance and Regulation in Ethiopia: The Case of Grand Renaissance Dam Bonds
| dc.contributor.advisor | Teshome, Tilahun ( Professor) | |
| dc.contributor.author | Fentie, Woldetinsae | |
| dc.date.accessioned | 2019-04-10T07:56:47Z | |
| dc.date.accessioned | 2023-11-08T11:43:06Z | |
| dc.date.available | 2019-04-10T07:56:47Z | |
| dc.date.available | 2023-11-08T11:43:06Z | |
| dc.date.issued | 2014-06 | |
| dc.description.abstract | Bond issuance and its market in Ethiopia are at their rudimentary stage and have long distance to go. Well developed government bond market can assist economic development in general and infrastructure development endeavors in particular. Government bond issuance in Ethiopia is not guided and supported by well designed legal and institutional frameworks. Such kind of government bond issuance will leave its own black point on future developments of government bond market and so requires great deal of care. Regulation of government bond issuance and their circulation in secondary markets will be preliminary considerations in any capital markets building. The author of this study found that despite government bond issuance in Ethiopia including the issuance of GRDBs, it is not based on full-fledged legal and institutional frameworks. Government bonds market needs many measures including cultivating institutional and normative spheres for its development. There are many factors that policy makers should consider in developing government securities markets. Sufficient regulation both in primary and secondary markets is yet to be designed. For instance some institutions which are crucial elements of government bond market like central depositories and settlement centers are not available. Likewise government bond market in Ethiopia is not lucky in utilizing financial intermediaries that are called underwriting or syndicate groups which will serve as market makers. These institutions would assist the bonds distribution to a considerable extent. Keywords: Government bond, primary market, secondary market, financial intermediaries, underwriters, long term debt instruments, capital market, money market. | en_US |
| dc.identifier.uri | http://etd.aau.edu.et/handle/123456789/17779 | |
| dc.language.iso | en | en_US |
| dc.publisher | Addis Ababa University | en_US |
| dc.subject | Government bond | en_US |
| dc.subject | primary market | en_US |
| dc.subject | secondary market | en_US |
| dc.subject | financial intermediaries | en_US |
| dc.subject | underwriters | en_US |
| dc.subject | long term debt instruments | en_US |
| dc.subject | capital market | en_US |
| dc.subject | money market | en_US |
| dc.title | Bond Issuance and Regulation in Ethiopia: The Case of Grand Renaissance Dam Bonds | en_US |
| dc.type | Thesis | en_US |