Interest Rate Liberalisation and the Allocative Efficiency of Credit: Some Evidence from Small and Medium Scale Industry in Kenya

Peninah Kariuki

Chapter 2 in Constraints on the Success of Structural Adjustment Programmes in Africa, 1996, pp 7-28 from Palgrave Macmillan

Abstract: Abstract The maintenance of positive real interest rates is one of the main conditions attached to programmes with the International Monetary Fund (IMF) and the World Bank (Killick, 1984: 191; Kitchen, 1986: 87). Yet, although some countries in Africa have undertaken some interest rate and financial sector reforms, there ‘... has not been extensive research on these matters in a Sub-Saharan African context’ (Helleiner, 1990: 42). In view of the doubts arising about the benefits of financial liberalisation, which have been expressed even by the World Bank itself (World Bank, 1989: 27), there is a strong case for empirical evidence from Sub-Saharan Africa.

Keywords: Interest Rate; Commercial Bank; Real Interest Rate; Allocative Efficiency; Lending Rate (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-24373-0_2

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DOI: 10.1007/978-1-349-24373-0_2

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