A BALANCE SHEET ANALYSIS OF THE BANQUE DE MADAGASCAR ET DES COMORES

John Flood
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John Flood: The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

No 152, Studies in Applied Economics from The Johns Hopkins Institute for Applied Economics, Global Health, and the Study of Business Enterprise

Abstract: This paper presents a rendition of Madagascar’s history as seen through the eyes of the balance sheets of the Banque de Madagascar (later the Banque de Madagascar et des Comores). The banque was formed with a dual charter that gave it the ability to function as both a bank of issue (central bank) and a commercial bank. Like other French Colonial banks, the Banque initially functioned primarily as a bank of issue, helping to monetize Madagascar’s fledgling economy. As the Malagasy economy grew, the Banque issued increasing amounts of credit to the Malagasy private sector. At the end of the Banque’s lifespan, a separate central bank was formed, removing the Banque’s note-issuing privilege. From that point until its closure in 1977, the Banque solely functioned as a commercial enterprise. The evolution of the Banque is traced via an analysis of its balance sheets.

Keywords: Comoros; Madagascar; central bank; balance sheet (search for similar items in EconPapers)
JEL-codes: E58 N27 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2020-03
New Economics Papers: this item is included in nep-acc, nep-his and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:ris:jhisae:0152

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