Financial Integration and Development: Liberalization and Reform in Sub-Saharan Africa

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ISBN: 9780415180818 | 0415180813
Cover: Hardcover
Copyright: 6/9/1998

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Summary

Supplemental Materials

This book examines the effects of financial liberalization on development, with a particular focus on Sub-Saharan Africa and includes studies of Ghana, Malawi, Nigeria and Tanzania.

List of tables

vii

(2)

List of illustrations

(2)

Foreword

(2)

Acknowledgements

xiii

1 Introduction

(17)

1.1 Introduction

(4)

1.2 Issues in finance and development: background of the study

(5)

1.3 Problems of restructuring fragmented financial systems

(2)

1.4 Research objectives, methodology and the structure of the book

(6)

2 Analytical framework on the sources of fragmentation, research hypotheses and overview of financial systems

(32)

2.1 Introduction

(1)

2.2 Explanations of market segmentation and dualism

(6)

2.3 Roles of formal and informal finance in economic development

(4)

2.4 Specialization, fragmentation and intermediation performance -- research hypothesis

(5)

2.5 Linkages, integration and financial policies

(3)

2.6 Characteristics of household savings and the implications for financial sector development in sub-Saharan Africa

(3)

2.7 Overview of financial systems

(3)

2.8 Financial repression and policy reform

(7)

3 Characteristics and structure of financial systems

(51)

3.1 Analysis of aggregate data: the savings-investment-growth nexus

(14)

3.2 Financial structure in Ghana

(4)

3.3 Financial structure in Malawi

(6)

3.4 Financial structure in Nigeria

(5)

3.5 Financial structure in Tanzania

(5)

3.6 Policy environment: financial repression and financial sector reform

(12)

3.7 Overview

(5)

4 Performance of formal financial systems and macroeconomic analysis of flow of funds

101

(79)

4.1 Savings mobilization and intermediation performance of the formal financial system under different policy regimes

101

(12)

4.2 Main features of the formal financial sector

113

(18)

4.3 Financial sector reforms and intersectoral financial flows

131

(29)

4.4 Synthesis

160

(20)

5 A micro-analysis of market specialization and fragmentation

180

(34)

5.1 The liabilities of formal and informal financial institutions

181

(15)

5.2 Assets of formal and informal financial institutions

196

(16)

5.3 Synthesis

212

(2)

6 Information, transaction costs and risk management among different institutions

214

(36)

6.1 Differences in risk assessments by lenders

216

(1)

6.2 Empirical approaches to uncertainty and risk management

217

(16)

6.3 Risk management and lending transaction costs

233

(12)

6.4 Synthesis

245

(5)

7 Linkages between segments of the financial market and gaps in financial services

250

(27)

7.1 Analysis of institutional linkages in deposit mobilization

250

(4)

7.2 Analysis of direct linkages in credit allocation

254

(5)

7.3 Indirect relationships between formal and informal finance

259

(4)

7.4 Market specialization and credit gaps for enterprise development

263

(9)

7.5 Conclusion

272

(5)

8 Conclusions and policy implications: towards greater financial integration

277

(31)

8.1 Summary of findings

278

(5)

8.2 Policy implications: towards greater financial integration

283

(23)

8.3 Synthesis

306

(2)

References

308

(13)

Index

321

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Financial Integration and Development: Liberalization and Reform in Sub-Saharan Africa

Summary

Table of Contents

Supplemental Materials