African Financial Sectors and the European Debt Crisis : Will Trouble Blow across the Sahara?

The exposure of African financial sectors to global risks, including the likely fall-out of the on-going European debt crisis, continues to be limited. African financial sectors have received much recognition for their steady growth performance and resilience during and after the 2008 global financial crisis. Many of the transmission channels for global risks and financial contagion to financial sectors in Africa are narrow or of limited potential influence. This note analysis the recent performance of African financial sectors, the degree of their exposure to European banking sector risks, the observable impact of a decline in global investor confidence, as well as the link between fiscal and monetary policy and financial sector development. The analysis in this paper focuses primarily on the potential impact of the European debt crisis on the performance of African financial sectors and the credit intermediation channel. The analysis both assesses how a transmission channel affects the stability and solvency of African financial institutions and how it affects the ability of African firms and governments to access funding.

Bibliographic Details

Main Author:	World Bank
Format:	Other Financial Sector Study biblioteca
Language:	English en_US
Published:	Washington, DC 2012-01
Subjects:	ACCESS TO INFORMATION, ACCOUNTING, AGRICULTURAL COMMODITY, ARREARS, BALANCE SHEET, BANK BALANCE SHEETS, BANK DEPOSITS, BANK LENDING, BANK LOAN, BANK LOANS, BANK RATES, BANKING ASSETS, BANKING CRISIS, BANKING MARKET, BANKING SECTOR, BANKING SECTOR ASSETS, BANKING SECTORS, BANKING SYSTEM, BANKING SYSTEMS, BOND AUCTIONS, BOND MARKETS, BOND SPREADS, BORROWER, BROKERAGE, BUDGET DEFICIT, CAPITAL FLOWS, CAPITAL INFLOWS, CAPITAL MARKETS, CENTRAL BANK, COLLATERAL, COMMERCIAL BANKS, COMMODITY PRICE, COMMODITY PRICES, CORPORATE BORROWERS, CORPORATE GOVERNANCE, COUNTRY RISKS, CREDIT GROWTH, CREDIT LINES, CREDIT MARKETS, CREDIT PROVISION, CREDIT RISK, CURRENCY, CURRENCY DEPRECIATION, CURRENCY DEVALUATION, CURRENCY DEVALUATIONS, CURRENCY EARNINGS, CURRENCY MISMATCHES, CURRENCY RISK, CURRENCY RISKS, CURRENCY VALUATIONS, CUSTODY, DEBT, DEBT BURDEN, DEBT CRISIS, DEBT LEVELS, DEFAULTS, DEPOSITS, DEVELOPING COUNTRIES, DEVELOPMENT BANK, DOMESTIC BANKS, DOMESTIC BOND, DOMESTIC BOND MARKETS, DOMESTIC CREDIT, DOMESTIC FINANCIAL MARKETS, DOMESTIC INSTITUTIONAL INVESTOR, DOMESTIC MARKETS, EMERGING MARKET, EMERGING MARKETS, EQUITIES, EQUITY MARKET, EQUITY MARKETS, EUROBOND, EXCHANGE RATE, EXPORTERS, EXTERNAL FUNDING, FINANCIAL CONTAGION, FINANCIAL CRISIS, FINANCIAL FLOWS, FINANCIAL INSTITUTIONS, FINANCIAL MARKET, FINANCIAL SECTOR DEVELOPMENT, FINANCIAL STABILITY, FINANCIAL SYSTEM, FINANCIAL SYSTEMS, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL POLICY, FIXED INCOME, FIXED INCOME MARKETS, FOREIGN BANK, FOREIGN BANKS, FOREIGN CAPITAL, FOREIGN CURRENCY, FOREIGN CURRENCY DEBT, FOREIGN DIRECT INVESTMENT, FOREIGN DIRECT INVESTMENTS, FOREIGN EXCHANGE, FOREIGN EXCHANGE RESERVES, FOREIGN INFLOWS, FOREIGN INVESTOR, FOREIGN INVESTORS, FOREIGN PORTFOLIO INVESTOR, GOVERNMENT BOND, GOVERNMENT BOND MARKETS, GOVERNMENT BORROWING, GOVERNMENT BUDGETS, GOVERNMENT FUNDING, GOVERNMENT SECURITIES, HOLDING, HOLDINGS, INDEBTEDNESS, INFLATION, INFLATIONARY PRESSURES, INSTITUTIONAL INVESTORS, INSURANCE, INSURANCE COMPANIES, INSURANCE PENETRATION, INTEREST RATES, INTERNATIONAL BANKS, INTERNATIONAL BOND, INTERNATIONAL BOND ISSUE, INTERNATIONAL BOND ISSUES, INTERNATIONAL CAPITAL, INTERNATIONAL CAPITAL MARKETS, INTERNATIONAL FINANCIAL INSTITUTIONS, INTERNATIONAL FINANCIAL STATISTICS, INTERNATIONAL INVESTMENT, INTERNATIONAL INVESTORS, INTERNATIONAL MARKET, INTERNATIONAL MARKETS, INTERNATIONAL SETTLEMENT, INVESTING, INVESTMENT ALLOCATIONS, INVESTMENT FLOWS, INVESTMENT FUNDS, INVESTMENT PORTFOLIOS, INVESTMENT STRATEGIES, INVESTOR BASE, INVESTOR CONFIDENCE, INVESTOR INTEREST, INVESTOR PARTICIPATION, INVESTOR PERCEPTIONS, ISSUANCE, LENDERS, LETTER OF CREDIT, LETTERS OF CREDIT, LIQUIDITY, LIQUIDITY RISK, LOAN, LOCAL BANKS, LOCAL BOND MARKET, LOCAL CURRENCY, LOCAL FINANCIAL MARKETS, LOCAL MARKETS, LOCAL SAVINGS, MACROECONOMIC POLICY, MARKET ANALYST, MARKET ANALYSTS, MARKET CAPITALIZATION, MARKET CONDITIONS, MARKET DEPTH, MARKET DEVELOPMENT, MARKET LIQUIDITY, MARKET PARTICIPANTS, MARKET SHARE, MARKET STABILITY, MARKET TRANSPARENCY, MARKET VALUES, MATURITY, MONETARY POLICY, NATIONAL CREDIT, NATIONAL DEBT, NON-PERFORMING LOANS, OIL PRICES, PAYMENT OBLIGATIONS, PENSION, PENSION FUNDS, PORTFOLIO, PORTFOLIO FLOW, PORTFOLIO FLOWS, PORTFOLIO INFLOWS, PORTFOLIO INVESTMENT, PORTFOLIO PERFORMANCE, PORTFOLIO QUALITY, PORTFOLIOS, PRICE VOLATILITY, PRIVATE CREDIT, PRIVATE SECTOR CREDIT, REMITTANCE, REMITTANCES, RETURNS, RISK AVERSION, RISK EXPOSURE, RISK MANAGEMENT, RISK PROFILES, SAVINGS RATES, SECURITIES, SECURITY MARKETS, SOLVENCY, SOVEREIGN BONDS, SOVEREIGN DEBT, SOVEREIGN ISSUES, STOCK EXCHANGE, STOCK EXCHANGES, STOCK MARKET, STOCKS, SUBORDINATED DEBT, TRADE FINANCE, TRADE FINANCING, TRADING, TRANSACTION, TRANSACTION COSTS, TREASURY, UNDERDEVELOPED FINANCIAL SECTORS, UNSECURED CREDIT, WITHDRAWAL,
Online Access:	http://documents.worldbank.org/curated/en/2012/01/16465231/financing-small-medium-enterprises-republic-south-africa-trouble-blow-across-sahara http://hdl.handle.net/10986/12686
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