Building Supervisory Structures in Sub-Saharan Africa: An Analytical Framework

Marc Quintyn and Michael Taylor

No 2007/018, IMF Working Papers from International Monetary Fund

Abstract: Current trends in financial sector development in sub-Saharan Africa are prompting policymakers to focus on the design of appropriate supervisory structures. Against the backdrop of worldwide efforts to remodel supervisory structures, this paper develops an analytical framework for designing a regulatory strategy that could assist in prioritizing the needs for regulation and supervision over time. Such a strategy should facilitate the design of a supervisory structure suitable for an individual country's current and future needs. The paper emphasizes that in the case of sub-Saharan Africa, any such strategy is constrained by the reality of capacity limitations and should take into account the need to keep the central bank involved in the process. Building on the framework, the paper identifies a number of supervisory structures that could meet sub-Saharan Africa's needs.

Keywords: WP; banking supervision; monetary policy; regulatory agency; SSA country; central bank responsibility; sector supervision structure; Africa; bank supervision; financial development; and financial regulation; securities supervision; central bank involvement; supervision of nonbank sector; oversight function; central bank's supervision; central bank staff; central bank's prestige; central bank expertise; aftermath of a banking crisis; supervision to the level; Nonbank financial institutions; Financial sector development; Sub-Saharan Africa (search for similar items in EconPapers)
Pages: 32
Date: 2007-01-01
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Citations: View citations in EconPapers (6)

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