GraceInQuant/Rwanda-capital-market-lab

Reproducible Python research on liquidity, risk, and capital-market development in Rwanda. # Rwanda Capital Market Lab Open, reproducible financial-engineering research for a deeper, safer, and more inclusive Rwandan capital market. ## Featured research output 📄 **Read the first RSE Baseline Market Brief** A decision-focused analysis of trading activity, zero-volume securities, and turnover concentration in the initial illustrative RSE snapshot. ## Decision question Which measurable constraints—liquidity, turnover, concentration, volatility, investor participation, issuer supply, market infrastructure, or information quality—most limit the Rwanda Stock Exchange's contribution to long-term financing and economic development? ## Why this matters Capital markets can complement bank financing by mobilizing long-term savings, supporting corporate and public-sector issuance, distributing risk, and improving price discovery. This project will test those channels rather than assume that a larger exchange automatically produces growth. ## Initial analytical framework ```mermaid flowchart TD A[Validated market and macro data] --> B[Market diagnostics] B --> C[Econometric and risk models] B --> D[Portfolio and investor analysis] C --> E[Policy scenarios] D --> E E --> F[Technical report and leadership brief] ``` ## Baseline indicators - Trading activity: value and volume traded, active-security ratio, zero-trade ratio, turnover velocity. - Liquidity: Amihud illiquidity, bid-ask spread when quotes exist, price-impact proxies, zero-return measures. - Market structure: market-cap concentration, turnover concentration, domestic/cross-listed composition. - Risk: volatility, downside risk, VaR/Expected Shortfall, drawdown, regime and stress behavior. - Development: market capitalization and turnover relative to GDP, capital raised, listings, investor base, bond-market depth. - Integrity: missingness, stale prices, outliers, revisions, survivorship bias, and source provenance. ## What the first snapshot says The included CSV is a user-supplied illustration …