TY  - BOOK
AU  - Ghura,Dhaneshwar
AU  - Kpodar,Kangni R.
AU  - Singh,Raju Jan
TI  - Financial Deepening in the CFA Franc Zone: The Role of Institutions 
T2  - IMF Working Papers; Working Paper
SN  - 1451872607 :
SN  - 1018-5941
PY  - 2009///
CY  - Washington, D.C.
PB  - International Monetary Fund
KW  - Financial Liberalization
KW  - imf
KW  - Financial Markets
KW  - Financial System
KW  - Property Rights
KW  - Burkina Faso
KW  - Cameroon
KW  - Central African Republic
N2  - 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
UR  - http://elibrary.imf.org/view/IMF001/10177-9781451872606/10177-9781451872606/10177-9781451872606.xml
UR  - http://www.imfbookstore.org/IMFORG/9781451872606
ER  -