Adventure Capitalism

"Africa has caught stock-market fever. This continent, the poorest and least integrated region of the world, now has no less than fifteen stock exchanges. Adventure Capitalism explores the driving force behind this phenomenon, finding a confluence of economic and political factors. The book also highlights the potential consequences of integrating these fledgling exchanges into the global financial market and the effects of Africa seeking to attract portfolio investment. Although presenting challenges for policymakers, the book concludes that alarmist fears over instability and loss of autonomy are probably misplaced. Overall, the book presents a sober defence of 'hot money' and makes a case for the likely strengthening of African states and economies because of globalization."--Jacket.