Financial Deepening in the CFA Franc Zone : The Role of Institutions.

By: Ghura, DhaneshwarContributor(s): Kpodar, Kangni | Singh, Raju JanMaterial type: TextTextSeries: IMF Working PapersPublisher: Washington, DC : International Monetary Fund, 2009Copyright date: ©2009Description: 1 online resource (19 pages)Content type: text Media type: computer Carrier type: online resourceISBN: 9781451916904Subject(s): Africa, French-speaking -- Economic policy | Finance -- Africa, Sub-SaharanGenre/Form: Electronic books.Additional physical formats: Print version:: Financial Deepening in the CFA Franc Zone : The Role of InstitutionsDDC classification: 332.152 LOC classification: HG3897.4 -- .S56 2009ebOnline resources: Click to View
Contents:
Intro -- 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.
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.
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Intro -- 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.

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.

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Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2018. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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