Market access is key to growth in EM economies, yet bond markets in many EM countries remain under-developed. This technical report aims to give EM policy-makers the means to transition from donor dependence to genuine financial independence.

If per capita GDP growth rates are non-linear then human progress may owe more to removing constraints to growth than supporting growth drivers per se.

Entering global bond markets offers plenty of upside for capital-starved African countries, but there are also risks.