Financial Deepening in the CFA Franc Zone : The Role of Institutions / Dhaneshwar Ghura, Kangni Kpodar, Raju Singh.

Format:

Book

Government document

Author/Creator:

Ghura, Dhaneshwar.

Contributor:

Kpodar, Kangni.

Singh, Raju.

Series:

IMF Working Papers; Working Paper ; No. 2009/113

IMF Working Papers

Language:

English

Subjects (All):

Finance--Africa, Sub-Saharan.

Finance.

Africa, French-speaking--Economic policy.

Africa, French-speaking.

Physical Description:

1 online resource (19 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2009.

Language Note:

English

Summary:

During the 1980s and early 1990s many Sub-Saharan African (SSA) countries undertook reforms to promote financial sector deepening. Nevertheless, financial sectors in SSA countries remain among the shallowest in the world and, within Sub-Saharan Africa, financial depth in the CFA franc zone is even more limited. This paper sets out to investigate empirically factors that may explain why financial depth in the CFA franc zone is shallower than in the rest of SSA using panel data for a sample of 40 countries for 1992-2006. The results indicate that the gap in financial development between the CFA franc zone countries and the rest of SSA can be explained by differences in institutional quality (e.g., availability of credit information, and strength and enforcement of property rights), variables that policy makers can influence.

Contents:

Contents; I. Introduction; II. Recent Developments; III. Theoretical Background and Review of the Literature; IV. Empirical Analysis; A. Data; B. Methodology and Main Results; V. Summary and Conclusions; References

Notes:

Description based upon print version of record.

Includes bibliographical references.

Description based on print version record.

ISBN:

9786612843280

9781462354764

1462354769

9781452703657

1452703655

9781451872606

1451872607

9781282843288

1282843281

OCLC:

645515702