References of "Teuwa Nkeuwo, Mathieu Hugues"
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See detailCoûts d’efficience des dépositaires centraux des titres des pays africains
Teuwa Nkeuwo, Mathieu Hugues ULg; Muller, Aline ULg

E-print/Working paper (2012)

This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of ... [more ▼]

This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of securities make these institutions efficient in light of the costs of service parameter. To do this, we rely on the translog cost function [introduced by Christensen et al. (1971)] and the constant elasticity of substitution of seven central securities depositories in Africa over the period 2004-2009. The results show the existence of significant economies of scale and scope in these institutions. The extent of these economies differs upon the size of the institution and the level of automation mechanisms to combine securities settlement and custody activities. Our findings also indicate that, unlike large institutions in countries such as South Africa and Mauritius, which have heavily invested in automation mechanisms, smaller institutions have higher service costs, which implies a need for consolidation of activities to reduce these costs. [less ▲]

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See detailCoûts d’efficience des dépositaires centraux des titres des pays africains
Teuwa Nkeuwo, Mathieu Hugues ULg; Muller, Aline ULg

Scientific conference (2012, October 23)

Cet article examine le potentiel d’économies d’échelle et de gamme au sein des dépositaires centraux des titres des pays africains. Il permet de vérifier si la consolidation des activités de règlement ... [more ▼]

Cet article examine le potentiel d’économies d’échelle et de gamme au sein des dépositaires centraux des titres des pays africains. Il permet de vérifier si la consolidation des activités de règlement-livraison et de conservation de titres rendent ces institutions efficientes au regard du paramètre coûts de service. Pour ce faire, nous estimons la fonction de coût translogarithmique [introduite par Christensen et al. (1971)] et l’élasticité constante de substitution de 7 dépositaires centraux des titres en Afrique sur une période s’étalant de 2004-2009. Les résultats montrent l’existence d’importantes économies d’échelle et de gamme dans ces institutions. Le degré de ces économies diffère selon la taille de l’institution et le niveau d’investissements consentis dans la mise en place de mécanismes d’automatisation permettant de facto de combiner les activités de règlement et de conservation des titres. Contrairement aux grandes institutions de pays tels que l’Afrique du Sud et l’Ile Maurice, lesquels ont beaucoup investi dans la mise en place de mécanismes d’automatisation, les petites institutions présentent des coûts de prestations élevés, ce qui implique une nécessité de consolidation des activités afin de réduire ces coûts. [less ▲]

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See detailCost efficiency in the African securities settlement and depository industry
Teuwa Nkeuwo, Mathieu Hugues ULg; Muller, Aline ULg

Conference (2011, May 17)

This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of ... [more ▼]

This paper examines the potential of economies of scale and scope among the African central securities depository institutions. We address whether the consolidation of settlement and custody activities of securities make these institutions efficient in light of the costs of service parameter. To do this, we rely on the translog cost function [introduced by Christensen et al. (1971)] and the constant elasticity of substitution of seven central securities depositories in Africa over the period 2004-2009. The results show the existence of significant economies of scale and scope in these institutions. The extent of these economies differs upon the size of the institution and the level of automation mechanisms to combine securities settlement and custody activities. Our findings also indicate that, unlike large institutions in countries such as South Africa and Mauritius, which have heavily invested in automation mechanisms, smaller institutions have higher service costs, which implies a need for consolidation of activities to reduce these costs. [less ▲]

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See detailArticulations between commercial banks and microfinance institutions in Sub- Saharan Africa: the case of Cameroon
Teuwa Nkeuwo, Mathieu Hugues ULg; Moulin, Bertrand

E-print/Working paper (2011)

In this article, we evaluate, from the point of view of banks, the potential of articulations between commercial banks and microfinance institutions (MFIs) in Cameroun in terms of financing of the rural ... [more ▼]

In this article, we evaluate, from the point of view of banks, the potential of articulations between commercial banks and microfinance institutions (MFIs) in Cameroun in terms of financing of the rural and the micro, small and medium enterprises (MSMEs). Furthermore, we seek to define the best form of partnership between the two types of institutions. The results obtained suggest that the articulations between banks and MFIs can potentially be beneficial to all stakeholders (banks, MFIs but also recipients). This study also highlights the fact that these articulations can be even more beneficial if national commercial banks, under the Cameroonian law in our case, participate rather than branches of foreign banking groups. Indeed, our research reveals that through these partnerships, from their cultural proximity and their propensity to take more risks, national commercial banks will more likely offer either directly or indirectly (through MFIs) more adapted financial products and services to both the rural and the MSMEs’ segments. The question of knowing if a better form of partnership between commercial banks and MFIs exists, results suggest that there is no better form of partnership as such; that the best form depends on the MFI’s development stage and that in any case this partnership should privilege a national commercial bank rather than a branch of a foreign bank. Even if the foreign banks’ contest might be necessary at a given stage of the process, the results make it also possible to consider a new model of interactions implying Microfinance investment vehicles and national commercial banks. This model would have the advantage to help mitigate risks that those vehicles perceive when deciding to directly invest in MFIs. [less ▲]

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