Swaziland and Mozambique's Stock Markets: a classical political economy story
“In an article entitled ‘The limited role of small stock exchanges in economic development: A case study of Mozambique and Swaziland’ in the latest Development Southern Africa journal, authors Bruce Hearna and Jenifer Piesse argue that the establishment of a successful stock market in a developing economy can provide a major source of development finance, both channelling domestic savings and attracting foreign investment. But small markets generally fail.
Sources:South Africa Node July 2010, pgs. 3-4
A shift in regional focus from post WWII globalization
The interwar periods saw immense amount of protectionism as countries folded back into themselves and sought self-suffiency after a very open and trade focused world of the 1800s. After WWII the US focused on opening up Europes borders once again, with the help of the Marshal Plan and the Bretton Woods Institutions. Now that Europe and the US are for a large part open (at least with each other) the focus has turned to the rest of the world, Africa included.
Sources:South Africa Node July 2010, pg. 3