For some time now,development of financial markets in developing countries of the world has been saddled with a lot of controversies.Furthermore,observations from many studies showed contradictory views which have mad...For some time now,development of financial markets in developing countries of the world has been saddled with a lot of controversies.Furthermore,observations from many studies showed contradictory views which have made debates on the subject matter inconclusive.In view of this,the general objective of this study is to examine financial and stock market developmental issues in developing African countries.It specifically intends to highlight strategies to strengthen financial and stock markets in African countries,among others.The study adopted table content analysis and descriptive statistics in its methodology.The study discovered that in spite of all the gains derivable from financial market development,the intensity of financial sector reforms implemented in some developing countries has not brought about a reasonable increase in the size and depth of their financial systems,among others.The implication of this is that capital market development in these developing countries would continue to suffer setbacks with their attendant consequences on economic growth.The study concluded that the presence of strong and virile financial and stock markets cannot be overlooked in any economy.It therefore recommended,amidst others,the promotion of institutional investors as well as development of appropriate business and investor friendly policies.展开更多
One of the fundamental issues in developing countries is how to evolve tax policies that can generate sufficient revenue for government activities.Consequent upon the above,this study examined tax policies and plannin...One of the fundamental issues in developing countries is how to evolve tax policies that can generate sufficient revenue for government activities.Consequent upon the above,this study examined tax policies and planning in developing sub-Saharan African countries.It adopted table content analysis and descriptive statistics in its methodology.The study observed that aggressive tax planning which the Multi-National Corporations execute through royalty payment,interest payment,strategic transfer pricing and treaty shopping,among others,has caused countries around the globe huge revenue losses annually and has become a matter of serious concern to both the developed and developing economies.The implication of this is that achievement of objectives of tax policies and their reforms will remain a mirage in sub-Saharan African countries.The study concluded that the prevalence of illicit financial outflows in the form of tax evasion and avoidance in the guise of aggressive tax planning by multinational corporations,however,makes Africa’s tax policies worse.It was recommended that the Organization for Economic Corporation and Development,and the G-20 should involve developing countries in the Base Erosion and Profit Shifting project as they are the worst victims of these activities.展开更多
文摘For some time now,development of financial markets in developing countries of the world has been saddled with a lot of controversies.Furthermore,observations from many studies showed contradictory views which have made debates on the subject matter inconclusive.In view of this,the general objective of this study is to examine financial and stock market developmental issues in developing African countries.It specifically intends to highlight strategies to strengthen financial and stock markets in African countries,among others.The study adopted table content analysis and descriptive statistics in its methodology.The study discovered that in spite of all the gains derivable from financial market development,the intensity of financial sector reforms implemented in some developing countries has not brought about a reasonable increase in the size and depth of their financial systems,among others.The implication of this is that capital market development in these developing countries would continue to suffer setbacks with their attendant consequences on economic growth.The study concluded that the presence of strong and virile financial and stock markets cannot be overlooked in any economy.It therefore recommended,amidst others,the promotion of institutional investors as well as development of appropriate business and investor friendly policies.
文摘One of the fundamental issues in developing countries is how to evolve tax policies that can generate sufficient revenue for government activities.Consequent upon the above,this study examined tax policies and planning in developing sub-Saharan African countries.It adopted table content analysis and descriptive statistics in its methodology.The study observed that aggressive tax planning which the Multi-National Corporations execute through royalty payment,interest payment,strategic transfer pricing and treaty shopping,among others,has caused countries around the globe huge revenue losses annually and has become a matter of serious concern to both the developed and developing economies.The implication of this is that achievement of objectives of tax policies and their reforms will remain a mirage in sub-Saharan African countries.The study concluded that the prevalence of illicit financial outflows in the form of tax evasion and avoidance in the guise of aggressive tax planning by multinational corporations,however,makes Africa’s tax policies worse.It was recommended that the Organization for Economic Corporation and Development,and the G-20 should involve developing countries in the Base Erosion and Profit Shifting project as they are the worst victims of these activities.
