Développement financier en Afrique subsaharienne: les enjeux pour une croissance soutenue

Enrique Gelbard, Anne-Marie Gulde and Rodolfo Maino

Revue d'économie financière, 2014, vol. N° 116, issue 4, 19-42

Abstract: Deep and efficient financial sectors are important in supporting growth. Against this general finding of the literature we take stock of changes in financial development in Sub-Saharan Africa since the late 1990s by looking at different measures of the extent of progress. The analysis confirms that gains in macroeconomic stability and a commodity resource boom since the late 1990s have been accompanied by financial deepening and improved financial policies in the region. However, progress has varied across countries, with some achieving diversification of financial products and gaining access to international financial markets while others are lagging behind. Furthermore, in most countries the range of institutions and the level of financial inclusion remain narrow, limiting prospects for sustained and inclusive growth in the region. We conclude with policy implications related to these challenges. Classification JEL: E41, E63, F31, G20, O16, O55.

JEL-codes: E41 E63 F31 G20 O16 O55 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (11)

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