Vhat Can Ethiopia Learn from African co untries Stock Market? Frame Work,rnExperience and Benefi trnHenok Abadi Addi s Ababa University, 2012rnThis paper aimed to draw lessons what Ethiopia can learn from Afri can countries stockrnmarket. Thus the main objective of the study has been focused on examining andrnassessing lessons regarding framework, experience and benefits of already developedrnstock markets sampled from j I African co un tries during 1991-20 10. Both descriptive andrneconometric anal ysis has been adopted. Descriptively different frameworks andrnexpenences of sampled African stock markets has been explored in regard torninstitutional, traditional and asset pricing characteristics of stock markets. On the otherrnhand, three econometrics models using a panel data model, dynamic panel data modelrnand Umestricted Vector Auto regression (V AR) has been employed to show therncconomic bcncfits of development of stock market on growth in Africa collectively andrnspecifically a simulation in Ethiopia 's growth model. Basically the findings had revealedrnthe fact that stock markets ab ility to enhance the effi ciency of investments and throughrnwhich its effect extends to growth is highly dependent on its level of effici ency. This wasrnevident from econometric approach where stock market development enhancedrninvestment positi vely but their indirect impact on growth were negatively associated duernto stock market variables fluctuation and inefficient operation and management of thernmarket in the sampled African stock markets. Besides advocating the establi shments ofrnnew stock market in Ethiopia with efficient institutional formati on, maintainingrnsustainable boost in stock market variables and improving way of operating the marketsrnsuccessively were recommended to enhance growth through stock market development