Financial systems in new middle-income African economies: The opportunities and the risks

Alan R. Roe

No wp-2016-89, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper examines the possible implications for the financial systems of low-income African economies and in particular Tanzania of their stated aspiration to achieve middle-income status. In doing so it finds little evidence that the mere increase of gross domestic product per capita will lead necessarily to financial systems that are larger, deeper, or more inclusive. The paper examines both theoretical and econometric evidence to pin down this central conclusion.

Keywords: Econometrics; Economic development; Finance (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:unu:wpaper:wp-2016-89

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