Financial Research on Africa: A Financial Theory Perspective

Anthony Saunders and Lemma W. Senbet
Additional contact information
Anthony Saunders: New York University
Lemma W. Senbet: University of Maryland

Journal of African Development, 1992, vol. 1, issue 1, 1-24

Abstract: This paper overviews the major problems confronting African Financial systems and sketches a wide range of issues for future research. The framework of modern financial theory is utilized in analyzing the characteristics of African financial systems. The framework begins with an idealized market system as a benchmark and introduces various classes of market imperfections and agency problems arising from conflicting interests among stakeholders in a financial economy, including the public sector. Implications are drawn, and illustrations provided, for the design of incentive contracts, corporate taxation, deposit insurance contracts, privatization of public enterprises, and the securities and banking systems.

Date: 1992
References: Add references at CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.afeawpapers.org/RePEc/afe/afe-journl/wp ... JAD_vol1_N1_Chp1.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:afe:journl:v:1:y:1992:i:1:p:1-24

Access Statistics for this article

More articles in Journal of African Development from African Finance and Economic Association (AFEA) Contact information at EDIRC.
Bibliographic data for series maintained by Christian Nsiah ().