EconPapers    
Economics at your fingertips  
 

Financial Liberalisation: The African Experience

Carmen Reinhart and Ioannis Tokatlidis

Journal of African Economies, 2003, vol. 12, issue Supplement 2, 53-88

Abstract: Almost a decade after their initiation, financial reforms appear to have had little effect on the economies of Sub-Saharan Africa. Whether the blame falls on their initial design or on the partial nature of their implementation, liberalisation has not mobilised savings, deepened intermediation or raised investment. Yet Africa needs functioning financial markets for a more efficient allocation of resources and growth. How can African governments 'correct' their approach towards financial reform? A first step towards refining future policy choices requires an assessment of the short African experience with financial reforms. How has progress in institutional and policy reform affected financial deepening? How have gains in financial depth, if any, affected saving, consumption and investment? How does the African experience compare with that of other developing countries? These are some of the key issues we address in this paper. Copyright 2003, Oxford University Press.

Date: 2003
References: Add references at CitEc
Citations: View citations in EconPapers (66)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Working Paper: Before and After Financial Liberalization (2005) Downloads
Working Paper: Financial Liberalization: The African Experience (2000) Downloads
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:oup:jafrec:v:12:y:2003:i:supp2:p:53-88

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Journal of African Economies is currently edited by Francis Teal

More articles in Journal of African Economies from Centre for the Study of African Economies Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK. Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().

 
Page updated 2025-03-19
Handle: RePEc:oup:jafrec:v:12:y:2003:i:supp2:p:53-88