Financial sector liberalization in Africa in the framework of economic reform programmes
Financial sector reforms often are designed to : increase competition in the financial sector by opening up entry and exit from the sector; increase the range of financial instruments available to both savers and investors through an expanded financial infrastructure and instruments; improve the determination of interest rates in order for them to reflect the opportunity cost of financial resources; improve the allocation of foreign exchange and the determination of the exchange rate in order for it to reflect the opportunity cost of a unit of foreign exchange; and improve the overall process of financial intermediation, and mobilization and allocation of financial resources. In Section II of this paper, we examine developments in banking and finance in Africa. Section III looks at Africa's recent experience with financial sector reforms. Most African countries have in recent years embarked on such reforms.
| Format: | Working paper biblioteca |
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| Language: | eng |
| Published: |
1997-03
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| Online Access: | https://hdl.handle.net/10855/4910 |
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