Financial Market Fragmentation and Reforms in Sub-Saharan Africa (World Bank Technical Paper)

William Steel

ISBN 10: 0821338617 / ISBN 13: 9780821338612

Published by World Bank Publications, 1997

About this Item

Zustand: Sehr gut | Seiten: 50 | Sprache: Englisch | Produktart: Bücher.

Seller Inventory # 29078763/122

Bibliographic Details

• Title: Financial Market Fragmentation and Reforms in Sub-Saharan Africa (World Bank Technical Paper)
• Publisher: World Bank Publications
• Publication Date: 1997
• Language: English
• ISBN 10: 0821338617
• ISBN 13: 9780821338612
• Binding: Soft cover
• Condition: Sehr gut
• Seller catalogs:
  • Bücher

About this title

Synopsis

This paper reports findings from surveys of formal and informal institutions and their clients in Ghana, Malawi, Nigeria, and Tanzania to test hypotheses explaining different aspects of fragmentation -which occurs when different market segments are poorly linked and interest rate differentials cannot be fully explained by differences in costs and risks. A central hypothesis this report expresses is that reforming financially repressive policies would not be sufficient to overcome fragmentation of financial markets because of structural and institutional barriers to interactions across different market segments. The study concludes that financial development strategies, and World Bank operations suporting them, should explicitly include informal and semi-formal financial institutions and attempt to reduce structural impediments, foster greater interaction between (and within) market segments, and increase client access to them. This integration would allow different types of institutions to specialize efficiently for different segments, an extension and improvement of financial intermediation in the medium term.